Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 00577683 Mr Ian Downes Mrs Janet Downes Mrs Samantha Cowgill Mr Daniel Downes Mr Ian Downes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00577683 2023-03-31 00577683 2024-03-31 00577683 2023-04-01 2024-03-31 00577683 frs-core:CurrentFinancialInstruments 2024-03-31 00577683 frs-core:ComputerEquipment 2024-03-31 00577683 frs-core:ComputerEquipment 2023-04-01 2024-03-31 00577683 frs-core:ComputerEquipment 2023-03-31 00577683 frs-core:FurnitureFittings 2024-03-31 00577683 frs-core:FurnitureFittings 2023-04-01 2024-03-31 00577683 frs-core:FurnitureFittings 2023-03-31 00577683 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 00577683 frs-core:InvestmentPropertyIncludedWithinPPE 2023-03-31 00577683 frs-core:PlantMachinery 2024-03-31 00577683 frs-core:PlantMachinery 2023-04-01 2024-03-31 00577683 frs-core:PlantMachinery 2023-03-31 00577683 frs-core:CapitalRedemptionReserve 2024-03-31 00577683 frs-core:ShareCapital 2024-03-31 00577683 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 00577683 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00577683 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 00577683 frs-bus:SmallEntities 2023-04-01 2024-03-31 00577683 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00577683 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00577683 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 00577683 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 00577683 frs-bus:Director1 2023-04-01 2024-03-31 00577683 frs-bus:Director2 2023-04-01 2024-03-31 00577683 frs-bus:Director3 2023-04-01 2024-03-31 00577683 frs-bus:Director4 2023-04-01 2024-03-31 00577683 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 00577683 frs-countries:EnglandWales 2023-04-01 2024-03-31 00577683 2022-03-31 00577683 2023-03-31 00577683 2022-04-01 2023-03-31 00577683 frs-core:CurrentFinancialInstruments 2023-03-31 00577683 frs-core:CapitalRedemptionReserve 2023-03-31 00577683 frs-core:ShareCapital 2023-03-31 00577683 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 00577683 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31
Registered number: 00577683
DOWNES PROPERTY LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 00577683
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,405,840 4,406,609
4,405,840 4,406,609
CURRENT ASSETS
Debtors 5 22,391 24,871
Cash at bank and in hand 354,387 392,270
376,778 417,141
Creditors: Amounts Falling Due Within One Year 6 (219,536 ) (276,240 )
NET CURRENT ASSETS (LIABILITIES) 157,242 140,901
TOTAL ASSETS LESS CURRENT LIABILITIES 4,563,082 4,547,510
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,500 ) (29,750 )
NET ASSETS 4,555,582 4,517,760
CAPITAL AND RESERVES
Called up share capital 7 96,950 96,950
Capital redemption reserve 206,050 206,050
Fair Value Reserve 9 782,756 782,756
Income Statement 3,469,826 3,432,004
SHAREHOLDERS' FUNDS 4,555,582 4,517,760
Page 1
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 Income Statement.
On behalf of the board
Mr Ian Downes
Director
29/05/2024
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
DOWNES PROPERTY LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 00577683 . The registered office is St James House , 65 Mere Green Road, Sutton Coldfield, West Midlands , B75 5BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
2.2. Turnover
Turnover is the total amount receivable by the Company in the ordinary course of business for services provided, excluding VAT.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33 1/3% straight line
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.
2.5. Leasing and Hire Purchase Contracts
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2.6. Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Investment Properties Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 April 2023 4,403,333 16,335 33,264 1,467 4,454,399
As at 31 March 2024 4,403,333 16,335 33,264 1,467 4,454,399
Depreciation
As at 1 April 2023 - 13,563 32,760 1,467 47,790
Provided during the period - 693 76 - 769
As at 31 March 2024 - 14,256 32,836 1,467 48,559
Net Book Value
As at 31 March 2024 4,403,333 2,079 428 - 4,405,840
As at 1 April 2023 4,403,333 2,772 504 - 4,406,609
Page 3
Page 4
The original cost of investment property was £3,591,627 . Investment property is valued at an open market value on an annual basis by the directors .
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 18,257 22,118
Other debtors 4,134 2,753
22,391 24,871
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,541 1,928
Other creditors 190,020 245,247
Taxation and social security 24,975 29,065
219,536 276,240
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 96,950 96,950
8. Directors Advances, Credits and Guarantees
Lease commitments
The total financial commitments which are not included in the balance sheet amount to £81,750.
9. Reserves
Fair Value Reserve
£
As at 1 April 2023 782,756
As at 31 March 2024 782,756
10. Related Party Transactions
Mr I J R Downes is a director and controlling shareholder of the Company

Mr I J R Downes is a director and controlling shareholder of the Company

At 31st March 2024 a loan of £160,419 was owed by the Company to Mr I J R Downes (2023 : £200,476), a market rate of interest of £12,500 has been paid on this balance in the year (2023: 12,500).
Dividends were paid in the year to the following individuals who are all directors of the Company, Mrs J S Downes £3,000, Mr I J R Downes £39,000, Mr D A Downes £9,000 and Mrs S Cowgill £9,000.
Page 4