Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10648679 Mr Stephen Briggs-Price Mr Tom Briggs-Price iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10648679 2023-03-31 10648679 2024-03-31 10648679 2023-04-01 2024-03-31 10648679 frs-core:CurrentFinancialInstruments 2024-03-31 10648679 frs-core:ComputerEquipment 2024-03-31 10648679 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10648679 frs-core:ComputerEquipment 2023-03-31 10648679 frs-core:FurnitureFittings 2024-03-31 10648679 frs-core:FurnitureFittings 2023-04-01 2024-03-31 10648679 frs-core:FurnitureFittings 2023-03-31 10648679 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 10648679 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10648679 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 10648679 frs-core:PlantMachinery 2024-03-31 10648679 frs-core:PlantMachinery 2023-04-01 2024-03-31 10648679 frs-core:PlantMachinery 2023-03-31 10648679 frs-core:ShareCapital 2024-03-31 10648679 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10648679 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10648679 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10648679 frs-bus:SmallEntities 2023-04-01 2024-03-31 10648679 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10648679 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10648679 frs-bus:Director1 2023-04-01 2024-03-31 10648679 frs-bus:Director2 2023-04-01 2024-03-31 10648679 frs-countries:EnglandWales 2023-04-01 2024-03-31 10648679 2022-03-31 10648679 2023-03-31 10648679 2022-04-01 2023-03-31 10648679 frs-core:CurrentFinancialInstruments 2023-03-31 10648679 frs-core:ShareCapital 2023-03-31 10648679 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10648679
Sps Properties (Midlands) Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10648679
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,409,841 701,070
1,409,841 701,070
CURRENT ASSETS
Stocks 5 30,000 30,000
Debtors 6 (33,383 ) (62,786 )
Cash at bank and in hand 457,938 991,297
454,555 958,511
Creditors: Amounts Falling Due Within One Year 7 (1,139,381 ) (1,090,232 )
NET CURRENT ASSETS (LIABILITIES) (684,826 ) (131,721 )
TOTAL ASSETS LESS CURRENT LIABILITIES 725,015 569,349
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,104 ) (814 )
NET ASSETS 723,911 568,535
CAPITAL AND RESERVES
Called up share capital 8 40 40
Profit and Loss Account 723,871 568,495
SHAREHOLDERS' FUNDS 723,911 568,535
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Page 2
For the year ending 31 March 2024 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 Stephen Briggs-Price
Director
24 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
Sps Properties (Midlands) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10648679 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.
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. 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:
Freehold No Depreciation
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. 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.
2.5. 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. 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: 12 (2023: 9)
12 9
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 631,590 87,145 79,766 1,487 799,988
Additions 714,583 - 12,954 - 727,537
As at 31 March 2024 1,346,173 87,145 92,720 1,487 1,527,525
Depreciation
As at 1 April 2023 - 51,590 46,292 1,036 98,918
Provided during the period - 6,981 11,673 112 18,766
As at 31 March 2024 - 58,571 57,965 1,148 117,684
Net Book Value
As at 31 March 2024 1,346,173 28,574 34,755 339 1,409,841
As at 1 April 2023 631,590 35,555 33,474 451 701,070
5. Stocks
2024 2023
£ £
Stock 30,000 30,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors (33,383 ) (62,786 )
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 70,049 20,960
Corporation tax 50,559 18,126
Other taxes and social security 2,117 715
VAT 7,042 653
Other creditors 64 64
Accruals and deferred income 102,774 132,774
Directors' loan accounts 92,358 120,913
Amounts owed to group undertakings 814,418 796,027
1,139,381 1,090,232
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 40 40
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