Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC684300 Mr Darren Clark Darren Clark true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC684300 2022-12-31 SC684300 2023-12-31 SC684300 2023-01-01 2023-12-31 SC684300 frs-core:CurrentFinancialInstruments 2023-12-31 SC684300 frs-core:ShareCapital 2023-12-31 SC684300 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC684300 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC684300 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC684300 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC684300 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC684300 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC684300 1 2023-01-01 2023-12-31 SC684300 frs-bus:Director1 2023-01-01 2023-12-31 SC684300 frs-bus:Director1 2022-12-31 SC684300 frs-bus:Director1 2023-12-31 SC684300 frs-countries:Scotland 2023-01-01 2023-12-31 SC684300 2021-12-31 SC684300 2022-12-31 SC684300 2022-01-01 2022-12-31 SC684300 frs-core:CurrentFinancialInstruments 2022-12-31 SC684300 frs-core:ShareCapital 2022-12-31 SC684300 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC684300
Preta Properties Limited
Financial Statements
For The Year Ended 31 December 2023
Gillespie's Fife
Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Preta Properties Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Preta Properties Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Preta Properties Limited , as a body, in accordance with the terms of our engagement letter dated 03 May 2022. Our work has been undertaken solely to prepare for your approval the accounts of Preta Properties Limited and state those matters that we have agreed to state to the director of Preta Properties Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Preta Properties Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Preta Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Preta Properties Limited . You consider that Preta Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Preta Properties Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
3rd April 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC684300
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 106,424 74,720
106,424 74,720
CURRENT ASSETS
Debtors 5 671 14,838
Cash at bank and in hand 8,576 1,480
9,247 16,318
Creditors: Amounts Falling Due Within One Year 6 (132,861 ) (104,330 )
NET CURRENT ASSETS (LIABILITIES) (123,614 ) (88,012 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,190 ) (13,292 )
NET LIABILITIES (17,190 ) (13,292 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (17,191 ) (13,293 )
SHAREHOLDERS' FUNDS (17,190) (13,292)
Page 2
Page 3
For the year ending 31 December 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 Darren Clark
Director
3rd April 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Preta Properties Limited is a private company, limited by shares, incorporated in Scotland, registered number SC684300 . The registered office is 17 West End Kinglassie, Lochgelly, KY5 0XG.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Investment Property
2023
£
Fair Value
As at 1 January 2023 74,720
Additions 31,704
As at 31 December 2023 106,424
5. Debtors
2023 2022
£ £
Due within one year
VAT 671 14,838
671 14,838
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 6,000 720
Bank loans and overdrafts 15,000 15,000
Other loans 15,000 -
Other creditors - 78,000
Accruals and deferred income 690 630
Director's loan account 96,171 9,980
132,861 104,330
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
8. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Darren Clark 9,980 96,691 (10,500 ) - 96,171
The above loan is unsecured, interest free and repayable on demand.
9. Related Party Transactions
Included within creditors is a loan of £15,000 from Claire Clark who is the wife of Darran Clark, director.
10. Ultimate Controlling Party
The company's ultimate controlling party is Darren Clark by virtue of his ownership of 100% of the issued share capital in the company.
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