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 07659567 Mr Iain MacLean Mrs Susana MacLean true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07659567 2022-10-31 07659567 2023-10-31 07659567 2022-11-01 2023-10-31 07659567 frs-core:CurrentFinancialInstruments 2023-10-31 07659567 frs-core:Non-currentFinancialInstruments 2023-10-31 07659567 frs-core:ComputerEquipment 2023-10-31 07659567 frs-core:ComputerEquipment 2022-11-01 2023-10-31 07659567 frs-core:ComputerEquipment 2022-10-31 07659567 frs-core:FurnitureFittings 2023-10-31 07659567 frs-core:FurnitureFittings 2022-11-01 2023-10-31 07659567 frs-core:FurnitureFittings 2022-10-31 07659567 frs-core:MotorVehicles 2023-10-31 07659567 frs-core:MotorVehicles 2022-11-01 2023-10-31 07659567 frs-core:MotorVehicles 2022-10-31 07659567 frs-core:RevaluationReserve 2022-10-31 07659567 frs-core:RevaluationReserve 2023-10-31 07659567 frs-core:ShareCapital 2023-10-31 07659567 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 07659567 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07659567 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 07659567 frs-bus:SmallEntities 2022-11-01 2023-10-31 07659567 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07659567 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07659567 frs-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 07659567 frs-bus:OrdinaryShareClass1 2023-10-31 07659567 1 2022-11-01 2023-10-31 07659567 frs-core:UnlistedNon-exchangeTraded 2023-10-31 07659567 frs-core:UnlistedNon-exchangeTraded 2022-10-31 07659567 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-10-31 07659567 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-10-31 07659567 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-10-31 07659567 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-10-31 07659567 frs-bus:Director1 2022-11-01 2023-10-31 07659567 frs-bus:Director2 2022-11-01 2023-10-31 07659567 frs-core:CurrentFinancialInstruments 2 2023-10-31 07659567 frs-countries:EnglandWales 2022-11-01 2023-10-31 07659567 2021-10-31 07659567 2022-10-31 07659567 2021-11-01 2022-10-31 07659567 frs-core:CurrentFinancialInstruments 2022-10-31 07659567 frs-core:Non-currentFinancialInstruments 2022-10-31 07659567 frs-core:RevaluationReserve 2022-10-31 07659567 frs-core:ShareCapital 2022-10-31 07659567 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 07659567 frs-bus:OrdinaryShareClass1 2021-11-01 2022-10-31 07659567 frs-core:CurrentFinancialInstruments 2 2022-10-31
Registered number: 07659567
Overlea Estates Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Meacher-Jones
Chartered Accountants
6 St John's Court
Vicars Lane
Chester
Cheshire
CH1 1QE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07659567
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 122,050 1,625
Investment Properties 5 1,126,521 1,126,521
Investments 6 50 50
1,248,621 1,128,196
CURRENT ASSETS
Stocks 7 152,638 11,835
Debtors 8 3,570,954 4,549,839
Cash at bank and in hand 628,882 345,718
4,352,474 4,907,392
Creditors: Amounts Falling Due Within One Year 9 (764,784 ) (1,259,597 )
NET CURRENT ASSETS (LIABILITIES) 3,587,690 3,647,795
TOTAL ASSETS LESS CURRENT LIABILITIES 4,836,311 4,775,991
Creditors: Amounts Falling Due After More Than One Year 10 (957,107 ) (966,957 )
NET ASSETS 3,879,204 3,809,034
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 612,049 612,049
Profit and Loss Account 3,267,055 3,196,885
SHAREHOLDERS' FUNDS 3,879,204 3,809,034
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 Iain MacLean
Director
31 July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Overlea Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07659567 . The registered office is 6 St John's Court, Vicars Lane, Chester, Cheshire, CH1 1QE.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 33% Reducing balance
Computer Equipment 33% Straight line
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 - 229 12,604 12,833
Additions 159,481 1,628 812 161,921
As at 31 October 2023 159,481 1,857 13,416 174,754
Depreciation
As at 1 November 2022 - 229 10,979 11,208
Provided during the period 39,870 543 1,083 41,496
As at 31 October 2023 39,870 772 12,062 52,704
Net Book Value
As at 31 October 2023 119,611 1,085 1,354 122,050
As at 1 November 2022 - - 1,625 1,625
5. Investment Property
2023
£
Fair Value
As at 1 November 2022 and 31 October 2023 1,126,521
6. Investments
Unlisted
£
Cost
As at 1 November 2022 50
As at 31 October 2023 50
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 50
As at 1 November 2022 50
The company's investments at the balance sheet date in the share capital of companies include the following:
Blueoak Estates Limited
Nature of business: Property Developers
Class of shares: Ordinary
Holding 50%
Aggregate capital and reserves 31.12.2022 £3,658,133 (31.12.2021 - £2,108.47)
Profit/(loss) for the period £1,549,986 (2020 - £843,823
Page 4
Page 5
7. Stocks
2023 2022
£ £
Work in progress 152,638 11,835
8. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 265,514 175,245
Other debtors 1,363,885 2,162,630
Overlea Properties Limited 858,858 1,213,822
VAT 5,038 2,482
Blueoak Estates Limited 981,999 900,000
Curzon Developments Limited 95,660 95,660
3,570,954 4,549,839
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 41,933 58,574
Other taxes and social security 1,114 1,114
Other creditors 128,560 614,133
Accruals and deferred income 1,632 1,320
Directors' loan accounts 591,545 584,456
764,784 1,259,597
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 28,391 38,241
Other creditors 928,716 928,716
957,107 966,957
11. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
12. Reserves
Revaluation Reserve
£
As at 1 November 2022 612,049
As at 31 October 2023 612,049
Page 5
Page 6
13. Related Party Transactions
Curzon Park DevelopmentsCurzon Park Developments Limited is a company owned by Mrs Maclean. During the year, the company loaned £0 (2022: £15,000) to Curzon Park Developments Limited. At the balance sheet date £95,660 (2022: £95,660) was owed by Curzon Park Developments Limited.

Curzon Park Developments

Curzon Park Developments Limited is a company owned by Mrs Maclean. During the year, the company loaned £0 (2022: £15,000) to Curzon Park Developments Limited. At the balance sheet date £95,660 (2022: £95,660) was owed by Curzon Park Developments Limited.

Overlea Properties LimitedOverlea Properties Limited is a company owned by Mr And Mrs Maclean. During the year, the company loaned £0 (2022: £139,734) to Overlea Properties Limited. The company also charged a management fee of £50,000 (2022; £0) to Overlea Properties Limited. At the balance sheet date £858,858 (2022: £1,213,822) was owed by Overlea Properties Limited.

Overlea Properties Limited

Overlea Properties Limited is a company owned by Mr And Mrs Maclean. During the year, the company loaned £0 (2022: £139,734) to Overlea Properties Limited. The company also charged a management fee of £50,000 (2022; £0) to Overlea Properties Limited. At the balance sheet date £858,858 (2022: £1,213,822) was owed by Overlea Properties Limited.

Blueoak Estates LimitedBlueoak Estates Limited, which is 50% owned by Overlea Estates Limited, Mr I Maclean is a director of both companies. During the year the company charged Blueoak Estates Limited £200,000 (2022: £200,000) management fees. During the year, the company also loaned £81,999 (2022: £555,000) to Blueoak Estates Limited. At the balance sheet date Blueoak Estates Limited owed £981,999 (2022: £900,000) to Overlea Estates Limited.

Blueoak Estates Limited

Blueoak Estates Limited, which is 50% owned by Overlea Estates Limited, Mr I Maclean is a director of both companies. During the year the company charged Blueoak Estates Limited £200,000 (2022: £200,000) management fees. During the year, the company also loaned £81,999 (2022: £555,000) to Blueoak Estates Limited. At the balance sheet date Blueoak Estates Limited owed £981,999 (2022: £900,000) to Overlea Estates Limited.

14. Ultimate Controlling Party
The company's ultimate controlling party are the directors by virtue of their ownership of 100% of the issued share capital in the company.
Page 6