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Registered number: 12667279
Piano Black Properties Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2023
Alexander Myerson & Co Limited
Alexander House
61 Rodney Street
Liverpool
Merseyside
L1 9ER
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 12667279
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 77,426 2,015
Investment Properties 5 640,000 640,000
717,426 642,015
CURRENT ASSETS
Cash at bank and in hand 21,328 17,013
21,328 17,013
Creditors: Amounts Falling Due Within One Year (403,123 ) (385,769 )
NET CURRENT ASSETS (LIABILITIES) (381,795 ) (368,756 )
TOTAL ASSETS LESS CURRENT LIABILITIES 335,631 273,259
Creditors: Amounts Falling Due After More Than One Year (25,274 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (77,742 ) (63,414 )
NET ASSETS 232,615 209,845
CAPITAL AND RESERVES
Called up share capital 7 2 2
Fair Value Reserve 8 185,095 185,095
Profit and Loss Account 47,518 24,748
SHAREHOLDERS' FUNDS 232,615 209,845
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr I Jones
Director
9 April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Piano Black Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12667279 . The registered office is 61 Rodney Street, Liverpool, Merseyside, L1 9ER.
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.
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:
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit from changes in fair value is recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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 years 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 assets reflect 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Total
£
Cost
As at 1 December 2022 2,519
Additions 80,868
As at 30 November 2023 83,387
Depreciation
As at 1 December 2022 504
Provided during the period 5,457
As at 30 November 2023 5,961
Net Book Value
As at 30 November 2023 77,426
As at 1 December 2022 2,015
5. Investment Property
2023
£
Fair Value
As at 1 December 2022 and 30 November 2023 640,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 391,874 391,876
Revaluation in 2022 increased by £248,126
The investment property is valued at open market value and in the current year has been valued by the director of the company as at the year end.
6. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,110 -
Later than one year and not later than five years 25,274 -
35,384 -
35,384 -
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4
Page 5
8. Reserves
Fair Value Reserve
£
As at 1 December 2022 185,095
As at 30 November 2023 185,095
Page 5