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Registered number: 12218437
Tauk Property Ltd.
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12218437
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,540 4,961
Tangible Assets 5 4,379 3,576
7,919 8,537
CURRENT ASSETS
Debtors 6 131,470 148,952
Cash at bank and in hand 296,374 152,615
427,844 301,567
Creditors: Amounts Falling Due Within One Year 7 (429,709 ) (298,689 )
NET CURRENT ASSETS (LIABILITIES) (1,865 ) 2,878
TOTAL ASSETS LESS CURRENT LIABILITIES 6,054 11,415
Creditors: Amounts Falling Due After More Than One Year 8 (39,953 ) (40,976 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 - (597 )
NET LIABILITIES (33,899 ) (30,158 )
CAPITAL AND RESERVES
Called up share capital 10 181 150
Share premium account 409,940 100,000
Profit and Loss Account (444,020 ) (130,308 )
SHAREHOLDERS' FUNDS (33,899) (30,158)
Page 1
Page 2
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.
On behalf of the board
Miss S E Walker
Director
Mr A Vass
Director
Mr M R Bruce
Director
30/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Tauk Property Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 12218437 . The registered office is 71 - 75 Shelton Street, London, WC2H 9JQ.
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. Going Concern Disclosure
These financial statements have been prepared on an ongoing concern basis, on the understanding that the directors are seeking further fundraising due to be completed by the year's end. 
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website design costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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% Straight Line Basis
Computer Equipment 20% Straight Line Basis
2.5. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
2.6. Financial Instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.10. Borrowings
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2.11. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 10)
9 10
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Page 5
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 November 2022 7,101
As at 31 October 2023 7,101
Amortisation
As at 1 November 2022 2,140
Provided during the period 1,421
As at 31 October 2023 3,561
Net Book Value
As at 31 October 2023 3,540
As at 1 November 2022 4,961
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 November 2022 4,690
Additions 1,804
As at 31 October 2023 6,494
Depreciation
As at 1 November 2022 1,114
Provided during the period 1,001
As at 31 October 2023 2,115
Net Book Value
As at 31 October 2023 4,379
As at 1 November 2022 3,576
6. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 92,965 106,252
Other debtors 38,505 42,700
131,470 148,952
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Page 6
7. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Trade creditors 58,422 37,844
Bank loans and overdrafts 89,581 58,761
Other creditors 160,789 73,070
Taxation and social security 120,917 129,014
429,709 298,689
Included in bank loans is a bounce bank loan with an amount of £9,786 due within one year. Interest is charged at 2.5% and is scheduled to end in November 2026.
Also included in bank loans is a another loan with an amount of £79,795 due within one year. Interest is charged at 2.1%.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
as restated
£ £
Bank loans 39,953 40,976
9. Deferred Taxation
As at 31 October 2023, the company has not recognised a deferred tax asset amounting to £75,614. This asset arises primarily from taxable losses carried forwards. 
2023 2022
as restated
£ £
Other timing differences - 597
10. Share Capital
2023 2022
as restated
Allotted, called up and fully paid £ £
181 Ordinary Shares of £ 1.000 each 181 150
Shares issued during the period: £
31 Ordinary Shares of £ 1.000 each 31
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Miss Stephanie Walker 12,749 5,064 - (17,813) -
Mr Andrew Vass 10,460 7,430 - (17,890) -
The above loan is unsecured, interest free and repayable on demand, 
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