Acorah Software Products - Accounts Production 14.5.501 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 04919943 Mrs Kathleen Radley Mr Mark Scully iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04919943 2022-10-31 04919943 2023-10-31 04919943 2022-11-01 2023-10-31 04919943 frs-core:CurrentFinancialInstruments 2023-10-31 04919943 frs-core:Non-currentFinancialInstruments 2023-10-31 04919943 frs-core:ShareCapital 2023-10-31 04919943 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 04919943 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04919943 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 04919943 frs-bus:SmallEntities 2022-11-01 2023-10-31 04919943 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 04919943 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 04919943 frs-bus:Director1 2022-11-01 2023-10-31 04919943 frs-bus:Director2 2022-11-01 2023-10-31 04919943 frs-countries:EnglandWales 2022-11-01 2023-10-31 04919943 2021-10-31 04919943 2022-10-31 04919943 2021-11-01 2022-10-31 04919943 frs-core:CurrentFinancialInstruments 2022-10-31 04919943 frs-core:Non-currentFinancialInstruments 2022-10-31 04919943 frs-core:ShareCapital 2022-10-31 04919943 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 04919943
M & P Property Lettings Limited
Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04919943
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 652,583 652,583
652,583 652,583
CURRENT ASSETS
Debtors 5 383 309
Cash at bank and in hand 40,582 65,945
40,965 66,254
Creditors: Amounts Falling Due Within One Year 6 (3,550 ) (4,906 )
NET CURRENT ASSETS (LIABILITIES) 37,415 61,348
TOTAL ASSETS LESS CURRENT LIABILITIES 689,998 713,931
Creditors: Amounts Falling Due After More Than One Year 7 (680,057 ) (685,145 )
NET ASSETS 9,941 28,786
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 9,939 28,784
SHAREHOLDERS' FUNDS 9,941 28,786
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
Mr Mark Scully
Director
29 July 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
M & P Property Lettings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04919943 . The registered office is 16 Queen Street, Ilkeston, Derby, DE7 5GT.
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. 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. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Investment Property
2023
£
Fair Value
As at 1 November 2022 and 31 October 2023 652,583
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 383 309
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax - 401
Other taxes and social security - 1,535
Accruals and deferred income 3,550 2,970
3,550 4,906
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 561,566 561,929
Directors loan account 118,491 123,216
680,057 685,145
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 4