Acorah Software Products - Accounts Production 14.6.300 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 NI061400 Mr David Mahon Mrs Stephanie Thompson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI061400 2022-10-31 NI061400 2023-10-31 NI061400 2022-11-01 2023-10-31 NI061400 frs-core:CurrentFinancialInstruments 2023-10-31 NI061400 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 NI061400 frs-core:InvestmentPropertyIncludedWithinPPE 2022-11-01 2023-10-31 NI061400 frs-core:InvestmentPropertyIncludedWithinPPE 2022-10-31 NI061400 frs-core:ShareCapital 2023-10-31 NI061400 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI061400 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI061400 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 NI061400 frs-bus:SmallEntities 2022-11-01 2023-10-31 NI061400 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 NI061400 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI061400 frs-core:UnlistedNon-exchangeTraded 2023-10-31 NI061400 frs-core:UnlistedNon-exchangeTraded 2022-10-31 NI061400 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-10-31 NI061400 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-10-31 NI061400 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-10-31 NI061400 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-10-31 NI061400 frs-bus:Director1 2022-11-01 2023-10-31 NI061400 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 NI061400 frs-countries:NorthernIreland 2022-11-01 2023-10-31 NI061400 2021-10-31 NI061400 2022-10-31 NI061400 2021-11-01 2022-10-31 NI061400 frs-core:CurrentFinancialInstruments 2022-10-31 NI061400 frs-core:ShareCapital 2022-10-31 NI061400 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: NI061400
Gracevalley Properties Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Roulston Jardine Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI061400
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 512,568 583,523
Investments 5 9,050 9,050
521,618 592,573
CURRENT ASSETS
Debtors 6 77,487 79,998
Cash at bank and in hand 5,789 819
83,276 80,817
Creditors: Amounts Falling Due Within One Year 7 (501,527 ) (655,510 )
NET CURRENT ASSETS (LIABILITIES) (418,251 ) (574,693 )
TOTAL ASSETS LESS CURRENT LIABILITIES 103,367 17,880
NET ASSETS 103,367 17,880
CAPITAL AND RESERVES
Called up share capital 8 5,000 5,000
Profit and Loss Account 98,367 12,880
SHAREHOLDERS' FUNDS 103,367 17,880
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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 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 David Mahon
Director
31/07/2024
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
Gracevalley Properties Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI061400 . The registered office is Northern Bank House, Main Street, Kesh, BT93 1TF.
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. 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.
2.3. 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 (2022: NIL)
- -
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4. Tangible Assets
Investment Properties
£
Cost
As at 1 November 2022 583,523
Disposals (70,955 )
As at 31 October 2023 512,568
Net Book Value
As at 31 October 2023 512,568
As at 1 November 2022 583,523
5. Investments
Unlisted
£
Cost
As at 1 November 2022 9,050
As at 31 October 2023 9,050
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 9,050
As at 1 November 2022 9,050
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 329 1,040
Other debtors 77,158 78,958
77,487 79,998
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 15,452 14,392
Other creditors 469,182 632,518
Taxation and social security 16,893 8,600
501,527 655,510
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 5,000 5,000
Page 5