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 01352769 Mr Jared Smith Mr Robert Smith Mrs Susan Smith Mrs Amanda Nearney Mrs Susan Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01352769 2022-12-31 01352769 2023-12-31 01352769 2023-01-01 2023-12-31 01352769 frs-core:Non-currentFinancialInstruments 2023-12-31 01352769 frs-core:FurnitureFittings 2023-01-01 2023-12-31 01352769 frs-core:ShareCapital 2023-12-31 01352769 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01352769 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01352769 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 01352769 frs-bus:SmallEntities 2023-01-01 2023-12-31 01352769 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01352769 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01352769 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 01352769 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 01352769 frs-bus:Director1 2023-01-01 2023-12-31 01352769 frs-bus:Director2 2023-01-01 2023-12-31 01352769 frs-bus:Director3 2023-01-01 2023-12-31 01352769 frs-bus:Director4 2023-01-01 2023-12-31 01352769 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 01352769 frs-countries:EnglandWales 2023-01-01 2023-12-31 01352769 2021-12-31 01352769 2022-12-31 01352769 2022-01-01 2022-12-31 01352769 frs-core:Non-currentFinancialInstruments 2022-12-31 01352769 frs-core:ShareCapital 2022-12-31 01352769 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 01352769 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31
Registered number: 01352769
T.A.S. (Property Leasing) Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 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: 01352769
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 207 332
Investment Properties 5 2,090,051 2,140,480
2,090,258 2,140,812
CURRENT ASSETS
Debtors 17,936 2,042
Cash at bank and in hand 237,372 229,298
255,308 231,340
Creditors: Amounts Falling Due Within One Year (100,334 ) (110,511 )
NET CURRENT ASSETS (LIABILITIES) 154,974 120,829
TOTAL ASSETS LESS CURRENT LIABILITIES 2,245,232 2,261,641
Creditors: Amounts Falling Due After More Than One Year (7,917 ) (13,312 )
NET ASSETS 2,237,315 2,248,329
CAPITAL AND RESERVES
Called up share capital 6 100 100
Fair Value Reserve 7 1,719,096 1,769,525
Profit and Loss Account 518,119 478,704
SHAREHOLDERS' FUNDS 2,237,315 2,248,329
Page 1
Page 2
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 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 Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Jared Smith
Director
26 March 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
T.A.S. (Property Leasing) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01352769 . The registered office is 107 , Cleethorpe Road , Grimsby , North East Lincolnshire, DN31 3ER.
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. 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% Straight Line
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 January 2023 17,755
As at 31 December 2023 17,755
Depreciation
As at 1 January 2023 17,423
Provided during the period 125
As at 31 December 2023 17,548
Net Book Value
As at 31 December 2023 207
As at 1 January 2023 332
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 2,140,480
Revaluations (50,429)
As at 31 December 2023 2,090,051
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
7. Reserves
Fair Value Reserve
£
As at 1 January 2023 1,769,525
Movements in fair value reserve (50,429)
As at 31 December 2023 1,719,096
Page 4