Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 01211811 Mr Ian Whitter Mrs Susan Whitter Mr Antony Whitter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01211811 2023-03-31 01211811 2024-03-31 01211811 2023-04-01 2024-03-31 01211811 frs-core:ComputerEquipment 2023-04-01 2024-03-31 01211811 frs-core:FurnitureFittings 2023-04-01 2024-03-31 01211811 frs-core:CapitalRedemptionReserve 2024-03-31 01211811 frs-core:ShareCapital 2024-03-31 01211811 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 01211811 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01211811 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 01211811 frs-bus:SmallEntities 2023-04-01 2024-03-31 01211811 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01211811 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01211811 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 01211811 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 01211811 frs-bus:Director1 2023-04-01 2024-03-31 01211811 frs-bus:Director2 2023-04-01 2024-03-31 01211811 frs-bus:Director3 2023-04-01 2024-03-31 01211811 frs-countries:EnglandWales 2023-04-01 2024-03-31 01211811 2022-03-31 01211811 2023-03-31 01211811 2022-04-01 2023-03-31 01211811 frs-core:CapitalRedemptionReserve 2023-03-31 01211811 frs-core:ShareCapital 2023-03-31 01211811 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 01211811 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31
Registered number: 01211811
IK&W Properties Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Statement of Financial Position
Registered number: 01211811
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 716,224 716,545
716,224 716,545
CURRENT ASSETS
Stocks 7,865 7,865
Debtors - 14,704
Cash at bank and in hand 50,065 38,521
57,930 61,090
Creditors: Amounts Falling Due Within One Year (31,925 ) (11,515 )
NET CURRENT ASSETS (LIABILITIES) 26,005 49,575
TOTAL ASSETS LESS CURRENT LIABILITIES 742,229 766,120
NET ASSETS 742,229 766,120
CAPITAL AND RESERVES
Called up share capital 5 25,688 25,688
Capital redemption reserve 15,000 15,000
Fair Value Reserve 6 410,094 410,094
Income Statement 291,447 315,338
SHAREHOLDERS' FUNDS 742,229 766,120
Page 1
Page 2
For the year ending 31 March 2024 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 Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Susan Whitter
Director
14/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
IK&W Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01211811 . The registered office is The Old Hall Hall Lane, Fiskerton, Lincoln, LN3 4HT.
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 rental income and from the rendering of services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets other than investment properties are stated at cost less depreciation. 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 follow ing bases:
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined periodically 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 income statement.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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 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: 3 (2023: 3)
3 3
Page 3
Page 4
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 April 2023 740,094
As at 31 March 2024 740,094
Depreciation
As at 1 April 2023 23,549
Provided during the period 321
As at 31 March 2024 23,870
Net Book Value
As at 31 March 2024 716,224
As at 1 April 2023 716,545
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 25,688 25,688
6. Reserves
Fair Value Reserve
£
As at 1 April 2023 410,094
As at 31 March 2024 410,094
Page 4