Acorah Software Products - Accounts Production 15.0.400 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 08717642 V D Goldstein R G Kilikita iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08717642 2022-10-31 08717642 2023-10-31 08717642 2022-11-01 2023-10-31 08717642 frs-core:CurrentFinancialInstruments 2023-10-31 08717642 frs-core:Non-currentFinancialInstruments 2023-10-31 08717642 frs-core:ShareCapital 2023-10-31 08717642 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08717642 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08717642 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 08717642 frs-bus:SmallEntities 2022-11-01 2023-10-31 08717642 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08717642 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08717642 frs-bus:OrdinaryShareClass2 2022-11-01 2023-10-31 08717642 frs-bus:OrdinaryShareClass2 2023-10-31 08717642 frs-bus:OrdinaryShareClass3 2022-11-01 2023-10-31 08717642 frs-bus:OrdinaryShareClass3 2023-10-31 08717642 frs-bus:OrdinaryShareClass4 2022-11-01 2023-10-31 08717642 frs-bus:OrdinaryShareClass4 2023-10-31 08717642 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 08717642 frs-bus:Director1 2022-11-01 2023-10-31 08717642 frs-bus:Director2 2022-11-01 2023-10-31 08717642 frs-countries:EnglandWales 2022-11-01 2023-10-31 08717642 2021-10-31 08717642 2022-10-31 08717642 2021-11-01 2022-10-31 08717642 frs-core:CurrentFinancialInstruments 2022-10-31 08717642 frs-core:Non-currentFinancialInstruments 2022-10-31 08717642 frs-core:ShareCapital 2022-10-31 08717642 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 08717642 frs-bus:OrdinaryShareClass2 2021-11-01 2022-10-31 08717642 frs-bus:OrdinaryShareClass3 2021-11-01 2022-10-31 08717642 frs-bus:OrdinaryShareClass4 2021-11-01 2022-10-31 08717642 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-10-31
Registered number: 08717642
Essex Road Development Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors V D Goldstein
R G Kilikita
Company Number 08717642
Registered Office 119 High Road
Loughton
Essex
IG10 4LT
Accountants Jones & Partners Limited
2nd Floor, Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Page 1
Page 2
Balance Sheet
Registered number: 08717642
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 5,175,000 5,175,000
5,175,000 5,175,000
CURRENT ASSETS
Debtors 5 699,113 552,525
Cash at bank and in hand 104,906 280,886
804,019 833,411
Creditors: Amounts Falling Due Within One Year 6 (38,016 ) (27,994 )
NET CURRENT ASSETS (LIABILITIES) 766,003 805,417
TOTAL ASSETS LESS CURRENT LIABILITIES 5,941,003 5,980,417
Creditors: Amounts Falling Due After More Than One Year 7 (2,800,000 ) (2,800,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (733,813 ) (512,971 )
NET ASSETS 2,407,190 2,667,446
CAPITAL AND RESERVES
Called up share capital 9 3 3
Fair Value Reserve 2,201,440 2,561,909
Profit and Loss Account 205,747 105,534
SHAREHOLDERS' FUNDS 2,407,190 2,667,446
Page 2
Page 3
For the year ending 31 October 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.
The financial statements were approved by the board of directors on 29 July 2024 and were signed on its behalf by:
V D Goldstein
Director
29 July 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Essex Road Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08717642 . The registered office is 119 High Road, Loughton, Essex, IG10 4LT.
The presentation currency of the financial statements is the Pound Sterling (£).
Monetary amounts in these financial statements are rounded to the nearest £.
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. Turnover includes revenue earned from rental income. Turnover is reduced for, rebates and other similar allowances.
Rental income is recognised on a straight line basis over the lease term.
2.3. Investment Properties
Investment property relates to fair value at the date of the revaluation less any subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. No depreciation is provided.
Fair values are determined from market based evidence which has been valued by the directors at the balance sheet date.
Revaluations gains and losses are recognised in the profit and loss accounts.
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 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, during the year was: NIL (2022: NIL)
- -
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4. Investment Property
2023
£
Fair Value
As at 1 November 2022 and 31 October 2023 5,175,000
The freehold property was valued at fair value, at the balance sheet date, by the directors.
Fair value at 31 October 2023 is represented by:
£
Cost
2,239,746
Valuation in 2014
2,220,431
Valuation in 2015
(281,638)
Valuation in 2016
821,461
Valuation in 2021
175,000
image
5,175,000
image
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 699,113 552,525
699,113 552,525
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,382 2,280
Accruals 36,634 25,714
38,016 27,994
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 2,800,000 2,800,000
2,800,000 2,800,000
The loan is secured by a fixed and a floating charge over the investment property of the company.
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 733,813 512,971
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9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.00 each 1 1
1 Ordinary B shares of £ 1.00 each 1 1
1 Ordinary C shares of £ 1.00 each 1 1
3 3
10. Related Party Transactions
The V Fund Limited
The balance due from The V Fund , at year end was £322,332 (2022- £172,332). The V Fund Ltd is a company in which V D Goldstein is a director.
RGK Properties Limited
The balance due from RGK Properties Ltd, at year end £ 174,810 (2022 - £174,810). RGK Properties Ltd is a company in which R Kilikita is a director.
Tommo Properties Limited
The balance due from Tommo Properties Ltd, at year end was £185,166 (2022 - £185,166). Tommo Properties Ltd is a company which is a joint venture partner with influence in Essex Road Development Ltd.
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