Acorah Software Products - Accounts Production 14.5.601 false true true 30 June 2022 7 June 2021 false 1 July 2022 30 June 2023 30 June 2023 13440989 Ravi Soodi the director true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13440989 2022-06-30 13440989 2023-06-30 13440989 2022-07-01 2023-06-30 13440989 frs-core:CurrentFinancialInstruments 2023-06-30 13440989 frs-core:Non-currentFinancialInstruments 2023-06-30 13440989 frs-core:ComputerEquipment 2023-06-30 13440989 frs-core:ComputerEquipment 2022-07-01 2023-06-30 13440989 frs-core:ComputerEquipment 2022-06-30 13440989 frs-core:FurnitureFittings 2023-06-30 13440989 frs-core:FurnitureFittings 2022-07-01 2023-06-30 13440989 frs-core:FurnitureFittings 2022-06-30 13440989 frs-core:InvestmentPropertyIncludedWithinPPE 2023-06-30 13440989 frs-core:InvestmentPropertyIncludedWithinPPE 2022-06-30 13440989 frs-core:ShareCapital 2023-06-30 13440989 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 13440989 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 13440989 frs-bus:FilletedAccounts 2022-07-01 2023-06-30 13440989 frs-bus:SmallEntities 2022-07-01 2023-06-30 13440989 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 13440989 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 13440989 1 2022-07-01 2023-06-30 13440989 frs-bus:Director1 2022-07-01 2023-06-30 13440989 frs-countries:EnglandWales 2022-07-01 2023-06-30 13440989 2021-06-06 13440989 2022-06-30 13440989 2021-06-07 2022-06-30 13440989 frs-core:CurrentFinancialInstruments 2022-06-30 13440989 frs-core:Non-currentFinancialInstruments 2022-06-30 13440989 frs-core:ShareCapital 2022-06-30 13440989 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30
Registered number: 13440989
WINSTON M BROOK LTD
Unaudited Financial Statements
For The Year Ended 30 June 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13440989
30 June 2023 30 June 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,180,612 420,000
1,180,612 420,000
CURRENT ASSETS
Debtors 5 14,877 -
Cash at bank and in hand 33,915 61
48,792 61
Creditors: Amounts Falling Due Within One Year 6 (405,133 ) (419,643 )
NET CURRENT ASSETS (LIABILITIES) (356,341 ) (419,582 )
TOTAL ASSETS LESS CURRENT LIABILITIES 824,271 418
Creditors: Amounts Falling Due After More Than One Year 7 (820,474 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,003 ) (216 )
NET (LIABILITIES)/ASSETS (11,206 ) 202
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (11,207 ) 201
SHAREHOLDERS' FUNDS (11,206) 202
Page 1
Page 2
For the year ending 30 June 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
Ravi Soodi
Director
12 April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
WINSTON M BROOK LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13440989 . The registered office is 20-22 Wenlock Road, London, N1 7GU.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.
2.3. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
2.4. 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 on the following bases:
Furniture, fixtures and equipment 25% (WDV)
Computer Equipment 25% (WDV)
2.5. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
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: 1 (2022: 1)
1 1
4. Tangible Assets
Investment Properties Furniture, fixtures and equipment Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 July 2022 420,000 - - 420,000
Additions 702,455 207 490 703,152
Revaluation 57,545 - - 57,545
As at 30 June 2023 1,180,000 207 490 1,180,697
Depreciation
As at 1 July 2022 - - - -
Provided during the period - 26 59 85
As at 30 June 2023 - 26 59 85
Net Book Value
As at 30 June 2023 1,180,000 181 431 1,180,612
As at 1 July 2022 420,000 - - 420,000
The investment properties are valued, at balance sheet date, by directors of the company based on the assessment of available market information and property condition. The directors believe the their valuation would not be materially different from the professional valuation.
5. Debtors
30 June 2023 30 June 2022
£ £
Due within one year
Prepayments and accrued income 14,877 -
14,877 -
6. Creditors: Amounts Falling Due Within One Year
30 June 2023 30 June 2022
£ £
Other creditors 750 -
Accruals and deferred income 1,440 720
Director's loan account 402,943 418,923
405,133 419,643
7. Creditors: Amounts Falling Due After More Than One Year
30 June 2023 30 June 2022
£ £
Bank loans 820,474 -
820,474 -
Page 4
Page 5
8. Secured Creditors
Of the creditors the following amounts are secured.
30 June 2023 30 June 2022
£ £
Bank loans and overdrafts 820,474 -
9. Share Capital
30 June 2023 30 June 2022
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
Included in creditors due within one year is an amount of £402,943 (2022: £418,923 ) owed to its director. The amount is interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of the ownership of 100% of the issued share capital in the company.
Page 5