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 11146158 Mr Michael O'Sullivan Mrs Julia O'Sullivan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11146158 2022-12-31 11146158 2023-12-31 11146158 2023-01-01 2023-12-31 11146158 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11146158 frs-core:ShareCapital 2023-12-31 11146158 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11146158 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11146158 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11146158 frs-bus:SmallEntities 2023-01-01 2023-12-31 11146158 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11146158 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11146158 frs-bus:Director1 2023-01-01 2023-12-31 11146158 frs-bus:Director2 2023-01-01 2023-12-31 11146158 frs-countries:EnglandWales 2023-01-01 2023-12-31 11146158 2021-12-31 11146158 2022-12-31 11146158 2022-01-01 2022-12-31 11146158 frs-core:CurrentFinancialInstruments 2022-12-31 11146158 frs-core:ShareCapital 2022-12-31 11146158 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11146158
MADA PROPERTIES LTD
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11146158
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 172,980 -
Cash at bank and in hand 205,826 478,797
378,806 478,797
Creditors: Amounts Falling Due Within One Year 5 - (99,508 )
NET CURRENT ASSETS (LIABILITIES) 378,806 379,289
TOTAL ASSETS LESS CURRENT LIABILITIES 378,806 379,289
NET ASSETS 378,806 379,289
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 378,804 379,287
SHAREHOLDERS' FUNDS 378,806 379,289
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.
On behalf of the board
Mr Michael O'Sullivan
Director
Mrs Julia O'Sullivan
Director
22/01/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
MADA PROPERTIES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11146158 . The registered office is 471 Cleveland Street, Birkenhead, Wirral, CH41 8EE.
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.
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:
Freehold Nil
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Stocks
2023 2022
£ £
Work in Progress at Cost 172,980 -
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax - 65,228
Bounce Back Loan - Current Element - 34,280
- 99,508
Page 2
Page 3
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 3