Acorah Software Products - Accounts Production 15.0.400 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 05168850 Mr Paul Bottomley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05168850 2023-06-30 05168850 2024-06-30 05168850 2023-07-01 2024-06-30 05168850 frs-core:OtherReservesSubtotal 2024-06-30 05168850 frs-core:ShareCapital 2024-06-30 05168850 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05168850 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05168850 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05168850 frs-bus:SmallEntities 2023-07-01 2024-06-30 05168850 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05168850 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05168850 frs-core:UnlistedNon-exchangeTraded 2024-06-30 05168850 frs-core:UnlistedNon-exchangeTraded 2023-06-30 05168850 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-06-30 05168850 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 05168850 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-06-30 05168850 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-06-30 05168850 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 05168850 frs-bus:Director1 2023-07-01 2024-06-30 05168850 frs-countries:EnglandWales 2023-07-01 2024-06-30 05168850 2022-06-30 05168850 2023-06-30 05168850 2022-07-01 2023-06-30 05168850 frs-core:OtherReservesSubtotal 2023-06-30 05168850 frs-core:ShareCapital 2023-06-30 05168850 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 05168850
P.a.b. Estates Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05168850
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 230,000 -
Investments 5 120,000 300,000
350,000 300,000
CURRENT ASSETS
Debtors 6 16,976 31,494
Cash at bank and in hand 39,363 26,445
56,339 57,939
Creditors: Amounts Falling Due Within One Year 7 (68 ) -
NET CURRENT ASSETS (LIABILITIES) 56,271 57,939
TOTAL ASSETS LESS CURRENT LIABILITIES 406,271 357,939
NET ASSETS 406,271 357,939
CAPITAL AND RESERVES
Called up share capital 8 100 100
Other reserves 42,784 -
Profit and Loss Account 363,387 357,839
SHAREHOLDERS' FUNDS 406,271 357,939
Page 1
Page 2
For the year ending 30 June 2024 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
Mr Paul Bottomley
Director
22/07/2024
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
P.a.b. Estates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05168850 . The registered office is Jubilee House, East Beach, Lytham St.annes, FY8 5FT.
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.
Going concern
These financial statements are prepared on a going concern basis. The Directors have every expectation that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due.
Thus the Directors consider it appropriate to prepare these financial statements on a going concern basis.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are showing within borrowings in current liabilities.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. 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.
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments; and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.The company has elected to apply the provisions of Section 11 'Basic Financial Instruments; and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
...CONTINUED
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2.4. Financial Instruments - continued
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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)
- -
4. Investment Property
2024
£
Fair Value
As at 1 July 2023 -
Additions 177,180
Revaluations 52,820
As at 30 June 2024 230,000
Page 4
Page 5
5. Investments
Unlisted
£
Cost
As at 1 July 2023 300,000
Disposals (180,000 )
As at 30 June 2024 120,000
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 120,000
As at 1 July 2023 300,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 16,976 31,494
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 68 -
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5