Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 01683779 Mr Terence Dodge Mrs Sarah Proud Mrs Elaine Kirman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01683779 2023-03-31 01683779 2024-03-31 01683779 2023-04-01 2024-03-31 01683779 frs-core:CurrentFinancialInstruments 2024-03-31 01683779 frs-core:FurnitureFittings 2024-03-31 01683779 frs-core:FurnitureFittings 2023-04-01 2024-03-31 01683779 frs-core:FurnitureFittings 2023-03-31 01683779 frs-core:PlantMachinery 2024-03-31 01683779 frs-core:PlantMachinery 2023-04-01 2024-03-31 01683779 frs-core:PlantMachinery 2023-03-31 01683779 frs-core:ShareCapital 2024-03-31 01683779 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 01683779 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01683779 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 01683779 frs-bus:SmallEntities 2023-04-01 2024-03-31 01683779 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01683779 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01683779 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 01683779 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 01683779 frs-bus:Director1 2023-04-01 2024-03-31 01683779 frs-bus:Director2 2023-04-01 2024-03-31 01683779 frs-bus:Director3 2023-04-01 2024-03-31 01683779 frs-countries:EnglandWales 2023-04-01 2024-03-31 01683779 2022-03-31 01683779 2023-03-31 01683779 2022-04-01 2023-03-31 01683779 frs-core:CurrentFinancialInstruments 2023-03-31 01683779 frs-core:ShareCapital 2023-03-31 01683779 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 01683779 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31
Registered number: 01683779
Raxcrest Building Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Raxcrest Building Limited for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Raxcrest Building Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Raxcrest Building Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Raxcrest Building Limited and state those matters that we have agreed to state to the directors of Raxcrest Building Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Raxcrest Building Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Raxcrest Building Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Raxcrest Building Limited . You consider that Raxcrest Building Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Raxcrest Building Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
15 July 2024
Krowe Accountants
Grafton House
Bulls Head Yard
Alcester
Warwickshire
B49 5BX
Page 1
Page 2
Balance Sheet
Registered number: 01683779
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 250 313
Investment Properties 5 119,042 115,575
119,292 115,888
CURRENT ASSETS
Debtors 6 499 382
499 382
Creditors: Amounts Falling Due Within One Year 7 (3,097 ) (6,620 )
NET CURRENT ASSETS (LIABILITIES) (2,598 ) (6,238 )
TOTAL ASSETS LESS CURRENT LIABILITIES 116,694 109,650
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,919 ) (13,272 )
NET ASSETS 102,775 96,378
CAPITAL AND RESERVES
Called up share capital 8 200 200
Fair Value Reserve 9 56,624 53,816
Profit and Loss Account 45,951 42,362
SHAREHOLDERS' FUNDS 102,775 96,378
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Page 3
For the year ending 31 March 2024 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 Terence Dodge
Director
18 July 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Raxcrest Building Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01683779 . The registered office is Arrowgate, Mill Lane, Oversley Green,Alcester, Warwickshire, B49 6LF.
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:
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 April 2023 416 1,707 2,123
As at 31 March 2024 416 1,707 2,123
Depreciation
As at 1 April 2023 397 1,413 1,810
Provided during the period 4 59 63
As at 31 March 2024 401 1,472 1,873
Net Book Value
As at 31 March 2024 15 235 250
As at 1 April 2023 19 294 313
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 115,575
Fair value adjustments 3,467
As at 31 March 2024 119,042
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 49,136 49,136
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 499 382
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 2,009 5,714
Taxation and social security 1,088 906
3,097 6,620
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 5
Page 6
9. Reserves
Fair Value Reserve
£
As at 1 April 2023 53,816
Movements in fair value reserve 2,808
As at 31 March 2024 56,624
Page 6