Acorah Software Products - Accounts Production 14.5.501 false true 30 June 2022 1 September 2021 false 1 July 2022 30 June 2023 30 June 2023 11497993 Mr. O Harkavi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11497993 2022-06-30 11497993 2023-06-30 11497993 2022-07-01 2023-06-30 11497993 frs-core:Non-currentFinancialInstruments 2023-06-30 11497993 frs-core:ComputerEquipment 2022-07-01 2023-06-30 11497993 frs-core:FurnitureFittings 2022-07-01 2023-06-30 11497993 frs-core:ShareCapital 2023-06-30 11497993 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 11497993 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11497993 frs-bus:AbridgedAccounts 2022-07-01 2023-06-30 11497993 frs-bus:SmallEntities 2022-07-01 2023-06-30 11497993 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 11497993 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 11497993 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-06-30 11497993 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-30 11497993 frs-bus:Director1 2022-07-01 2023-06-30 11497993 frs-countries:EnglandWales 2022-07-01 2023-06-30 11497993 2021-08-31 11497993 2022-06-30 11497993 2021-09-01 2022-06-30 11497993 frs-core:Non-currentFinancialInstruments 2022-06-30 11497993 frs-core:ShareCapital 2022-06-30 11497993 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30 11497993 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-06-30
Registered number: 11497993
Square One Estates Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 June 2023
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 11497993
30 June 2023 30 June 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,947 5,302
Investment Properties 5 3,642,284 3,616,772
3,647,231 3,622,074
CURRENT ASSETS
Debtors 12,736 7,455
Cash at bank and in hand 288,520 165,352
301,256 172,807
Creditors: Amounts Falling Due Within One Year (49,250 ) (62,904 )
NET CURRENT ASSETS (LIABILITIES) 252,006 109,903
TOTAL ASSETS LESS CURRENT LIABILITIES 3,899,237 3,731,977
Creditors: Amounts Falling Due After More Than One Year (3,384,755 ) (3,121,839 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (135,753 ) (135,753 )
NET ASSETS 378,729 474,385
CAPITAL AND RESERVES
Called up share capital 6 100 100
Fair Value Reserve 7 574,442 574,442
Profit and Loss Account (195,813 ) (100,157 )
SHAREHOLDERS' FUNDS 378,729 474,385
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For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 June 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr. O Harkavi
Director
28 March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Abridged Financial Statements
1. General Information
Square One Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11497993 . The registered office is 22b Main Street, East Bridgford, Nottingham, NG13 8PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the renting of the investment properties.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reducing balance basis
Computer Equipment 25% reducing balance basis
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Total
£
Cost
As at 1 July 2022 9,047
Additions 906
As at 30 June 2023 9,953
Depreciation
As at 1 July 2022 3,745
Provided during the period 1,261
As at 30 June 2023 5,006
Net Book Value
As at 30 June 2023 4,947
As at 1 July 2022 5,302
5. Investment Property
30 June 2023
£
Fair Value
As at 1 July 2022 3,616,772
Additions 25,512
As at 30 June 2023 3,642,284
6. Share Capital
30 June 2023 30 June 2022
£ £
Allotted, Called up and fully paid 100 100
7. Reserves
Fair Value Reserve
£
As at 1 July 2022 574,442
As at 30 June 2023 574,442
8. Related Party Transactions
Included in other creditors is £848,230 owed to Green Leaf Investments Limited.
The above company's are related to Square One Estates Limited by common directorship and overlapping shareholding.
Interest has been charged at 4%.
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