Acorah Software Products - Accounts Production 14.5.501 false true true 31 March 2022 1 April 2021 false 1 April 2022 31 March 2023 31 March 2023 10733947 Mr Omer Weinberger iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10733947 2022-03-31 10733947 2023-03-31 10733947 2022-04-01 2023-03-31 10733947 frs-core:CurrentFinancialInstruments 2023-03-31 10733947 frs-core:Non-currentFinancialInstruments 2023-03-31 10733947 frs-core:ShareCapital 2023-03-31 10733947 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10733947 frs-bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10733947 frs-bus:FilletedAccounts 2022-04-01 2023-03-31 10733947 frs-bus:SmallEntities 2022-04-01 2023-03-31 10733947 frs-bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10733947 frs-bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10733947 frs-bus:Director1 2022-04-01 2023-03-31 10733947 frs-core:CurrentFinancialInstruments 1 2023-03-31 10733947 frs-countries:EnglandWales 2022-04-01 2023-03-31 10733947 2021-03-31 10733947 2022-03-31 10733947 2021-04-01 2022-03-31 10733947 frs-core:CurrentFinancialInstruments 2022-03-31 10733947 frs-core:Non-currentFinancialInstruments 2022-03-31 10733947 frs-core:ShareCapital 2022-03-31 10733947 frs-core:RetainedEarningsAccumulatedLosses 2022-03-31 10733947 frs-core:CurrentFinancialInstruments 1 2022-03-31
Registered number: 10733947
Ruby Triangle Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10733947
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 115,507,380 103,359,708
Debtors 5 3,059,701 4,154,245
Cash at bank and in hand 2,224 125
118,569,305 107,514,078
Creditors: Amounts Falling Due Within One Year 6 (36,907,748 ) (30,954,585 )
NET CURRENT ASSETS (LIABILITIES) 81,661,557 76,559,493
TOTAL ASSETS LESS CURRENT LIABILITIES 81,661,557 76,559,493
Creditors: Amounts Falling Due After More Than One Year 7 (83,039,351 ) (77,174,202 )
NET LIABILITIES (1,377,794 ) (614,709 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (1,377,795 ) (614,710 )
SHAREHOLDERS' FUNDS (1,377,794) (614,709)
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For the year ending 31 March 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.
On behalf of the board
Mr Omer Weinberger
Director
29/03/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ruby Triangle Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10733947 . The registered office is 6th Floor, Brock House, London, W1W 7NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The company continues to be loss making and its continued operations and existence are dependent on the extension of various loans provided by external lenders as disclosed within short- and long-term creditors. On this basis, the directors have identified material uncertainties related to events or conditions that may cast doubt over the company’s ability to continue as a going concern. However, the directors are confident that the company has the support of the lenders for a period of at least twelve months following the approval of these financial statements and therefore deem it appropriate to prepare the accounts on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is derived from rental income net of VAT.

Rental income is recognised on an accruals basis.
2.4. Stocks and Work in Progress
Property stock relates to costs incurred in the development of properties, including interest payable that is directly attributable to the development. The stock is stated at the lower of cost and net realisable value, assessed as the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying
amount is reduced to its selling price less costs to complete and sell. The impairment loss is
recognised immediately in profit or loss.
2.5. Financial Instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

...CONTINUED
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2.5. Financial Instruments - continued
Impairment of financial assets

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Stocks
2023 2022
£ £
Stock 115,507,380 103,359,708
Included in the cost of the development property are cumulative finance costs of £23,747,016 (2022: £14,228,811).
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 19,351 49,651
Prepayments and accrued income 19,607 21,297
Other debtors 3,002,281 4,064,767
VAT 18,462 18,530
3,059,701 4,154,245
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,731,328 2,239,737
Bank loans and overdrafts 31,704 41,715
Other creditors 8,376,289 5,102,173
Other Loans 25,765,343 23,518,210
Accruals and deferred income 2,834 52,500
Director's loan account 250 250
36,907,748 30,954,585
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other Loans (Long term liabilities - creditors > 1 year) 83,039,351 77,174,202
83,039,351 77,174,202
Secured loans
Included within other loans are amounts of £20,257,000, £35,419,752 and £20,882,598 (2022: £70,634,202) which are secured by a fixed and floating charge over the assets of the company.
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
1 Ordinary share of £1.00
9. Related Party Transactions
The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group. 
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