Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 11452518 Mr Sean Lydon Mr Peter Lydon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11452518 2022-07-31 11452518 2023-07-31 11452518 2022-08-01 2023-07-31 11452518 frs-core:CurrentFinancialInstruments 2023-07-31 11452518 frs-core:Non-currentFinancialInstruments 2023-07-31 11452518 frs-core:FurnitureFittings 2023-07-31 11452518 frs-core:FurnitureFittings 2022-08-01 2023-07-31 11452518 frs-core:FurnitureFittings 2022-07-31 11452518 frs-core:ShareCapital 2023-07-31 11452518 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 11452518 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11452518 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 11452518 frs-bus:SmallEntities 2022-08-01 2023-07-31 11452518 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 11452518 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 11452518 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-07-31 11452518 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31 11452518 frs-bus:Director1 2022-08-01 2023-07-31 11452518 frs-bus:Director2 2022-08-01 2023-07-31 11452518 frs-countries:EnglandWales 2022-08-01 2023-07-31 11452518 2021-07-31 11452518 2022-07-31 11452518 2021-08-01 2022-07-31 11452518 frs-core:CurrentFinancialInstruments 2022-07-31 11452518 frs-core:Non-currentFinancialInstruments 2022-07-31 11452518 frs-core:ShareCapital 2022-07-31 11452518 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 11452518 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-07-31
Registered number: 11452518
Lydon & Co Property Investments Ltd.
Unaudited Financial Statements
For The Year Ended 31 July 2023
Footprints Accountancy
CIMA
24 Gander Lane
Barlborough
Chesterfield
S43 4PZ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11452518
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,385 2,097
Investment Properties 5 222,000 222,000
223,385 224,097
CURRENT ASSETS
Debtors 6 405 494
Cash at bank and in hand 9,813 4,993
10,218 5,487
Creditors: Amounts Falling Due Within One Year 7 (89,999 ) (89,506 )
NET CURRENT ASSETS (LIABILITIES) (79,781 ) (84,019 )
TOTAL ASSETS LESS CURRENT LIABILITIES 143,604 140,078
Creditors: Amounts Falling Due After More Than One Year 8 (132,470 ) (127,585 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (277 ) (2,662 )
NET ASSETS 10,857 9,831
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair Value Reserve 10 32,847 32,847
Profit and Loss Account (22,090 ) (23,116 )
SHAREHOLDERS' FUNDS 10,857 9,831
Page 1
Page 2
For the year ending 31 July 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 Sean Lydon
Director
15 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
Lydon & Co Property Investments Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 11452518 . The registered office is 38 Walton Close, Alton, GU34 1GY.
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% SL
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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2022 3,560
As at 31 July 2023 3,560
Depreciation
As at 1 August 2022 1,463
Provided during the period 712
As at 31 July 2023 2,175
Net Book Value
As at 31 July 2023 1,385
As at 1 August 2022 2,097
5. Investment Property
2023
£
Fair Value
As at 1 August 2022 and 31 July 2023 222,000
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 405 494
405 494
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 5,220 5,219
Intercompany loan - The Good Plastering Co Ltd 6,000 6,000
Accruals and deferred income 1,080 1,212
Directors' loan accounts 77,699 77,075
89,999 89,506
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 132,470 127,585
132,470 127,585
Page 4
Page 5
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Fair Value Reserve
£
As at 1 August 2022 32,847
As at 31 July 2023 32,847
Page 5