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 10268269 Ms Kirstin McNeill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10268269 2022-07-31 10268269 2023-07-31 10268269 2022-08-01 2023-07-31 10268269 frs-core:CurrentFinancialInstruments 2023-07-31 10268269 frs-core:Non-currentFinancialInstruments 2023-07-31 10268269 frs-core:InvestmentPropertyIncludedWithinPPE 2023-07-31 10268269 frs-core:InvestmentPropertyIncludedWithinPPE 2022-07-31 10268269 frs-core:RevaluationReserve 2022-08-01 2023-07-31 10268269 frs-core:RevaluationReserve 2022-07-31 10268269 frs-core:RevaluationReserve 2023-07-31 10268269 frs-core:ShareCapital 2023-07-31 10268269 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 10268269 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10268269 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 10268269 frs-bus:SmallEntities 2022-08-01 2023-07-31 10268269 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 10268269 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 10268269 frs-bus:Director1 2022-08-01 2023-07-31 10268269 frs-core:Non-currentFinancialInstruments 1 2023-07-31 10268269 frs-countries:EnglandWales 2022-08-01 2023-07-31 10268269 2021-07-31 10268269 2022-07-31 10268269 2021-08-01 2022-07-31 10268269 frs-core:CurrentFinancialInstruments 2022-07-31 10268269 frs-core:Non-currentFinancialInstruments 2022-07-31 10268269 frs-core:RevaluationReserve 2022-07-31 10268269 frs-core:ShareCapital 2022-07-31 10268269 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 10268269 frs-core:Non-currentFinancialInstruments 1 2022-07-31
Registered number: 10268269
Mcneill Homes Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Property Accounts Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10268269
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 450,000 400,000
450,000 400,000
CURRENT ASSETS
Debtors 5 4,726 5,421
Cash at bank and in hand 1,524 1,328
6,250 6,749
Creditors: Amounts Falling Due Within One Year 6 (97,218 ) (93,482 )
NET CURRENT ASSETS (LIABILITIES) (90,968 ) (86,733 )
TOTAL ASSETS LESS CURRENT LIABILITIES 359,032 313,267
Creditors: Amounts Falling Due After More Than One Year 7 (315,950 ) (318,336 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,761 ) (8,791 )
NET ASSETS/(LIABILITIES) 21,321 (13,860 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 74,508 37,478
Profit and Loss Account (53,188 ) (51,339 )
SHAREHOLDERS' FUNDS 21,321 (13,860)
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Kirstin McNeill
Director
19/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mcneill Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10268269 . The registered office is c/o Property Accounts Limited, 59 Castle Street, Reading, RG1 7SN.
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 recognised as rental income received. 
2.3. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The fair value of the investment property has been arrived at by the directors best estimate. Changes in fair value are recognised in the profit and loss account.
2.4. 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 year 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 asset reflects 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.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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Page 4
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 August 2022 400,000
Revaluation 50,000
As at 31 July 2023 450,000
Net Book Value
As at 31 July 2023 450,000
As at 1 August 2022 400,000
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 4,726 5,421
4,726 5,421
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 73,749 74,927
Director's loan account 23,169 18,555
Income recieved in advance 300 -
97,218 93,482
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 84,088 86,474
Mortgages 231,862 231,862
315,950 318,336
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Reserves
Revaluation Reserve
£
As at 1 August 2022 37,478
Surplus on revaluation 37,030
As at 31 July 2023 74,508
Page 4