Acorah Software Products - Accounts Production 14.6.300 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09899518 Mr Robert Staegemann Mrs Jimina Staegemann Robert Stageman true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09899518 2022-12-31 09899518 2023-12-31 09899518 2023-01-01 2023-12-31 09899518 frs-core:CurrentFinancialInstruments 2023-12-31 09899518 frs-core:Non-currentFinancialInstruments 2023-12-31 09899518 frs-core:ComputerEquipment 2023-12-31 09899518 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09899518 frs-core:ComputerEquipment 2022-12-31 09899518 frs-core:FurnitureFittings 2023-12-31 09899518 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09899518 frs-core:FurnitureFittings 2022-12-31 09899518 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 09899518 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 09899518 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 09899518 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 09899518 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09899518 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 09899518 frs-core:PlantMachinery 2023-12-31 09899518 frs-core:PlantMachinery 2023-01-01 2023-12-31 09899518 frs-core:PlantMachinery 2022-12-31 09899518 frs-core:ShareCapital 2023-12-31 09899518 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09899518 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09899518 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09899518 frs-bus:SmallEntities 2023-01-01 2023-12-31 09899518 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09899518 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09899518 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09899518 frs-bus:OrdinaryShareClass1 2023-12-31 09899518 1 2023-01-01 2023-12-31 09899518 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 09899518 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 09899518 frs-core:UnlistedNon-exchangeTraded 2023-12-31 09899518 frs-core:UnlistedNon-exchangeTraded 2022-12-31 09899518 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 09899518 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 09899518 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 09899518 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 09899518 frs-bus:Director1 2023-01-01 2023-12-31 09899518 frs-bus:Director2 2023-01-01 2023-12-31 09899518 frs-core:CurrentFinancialInstruments 1 2023-12-31 09899518 frs-core:CurrentFinancialInstruments 2 2023-12-31 09899518 frs-core:CurrentFinancialInstruments 3 2023-12-31 09899518 frs-countries:EnglandWales 2023-01-01 2023-12-31 09899518 2021-12-31 09899518 2022-12-31 09899518 2022-01-01 2022-12-31 09899518 frs-core:CurrentFinancialInstruments 2022-12-31 09899518 frs-core:Non-currentFinancialInstruments 2022-12-31 09899518 frs-core:ShareCapital 2022-12-31 09899518 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09899518 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 09899518 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 09899518 frs-core:CurrentFinancialInstruments 1 2022-12-31 09899518 frs-core:CurrentFinancialInstruments 2 2022-12-31 09899518 frs-core:CurrentFinancialInstruments 3 2022-12-31
Registered number: 09899518
Tin Properties Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09899518
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,396,458 3,392,160
Investments 5 135 135
3,396,593 3,392,295
CURRENT ASSETS
Debtors 6 25,288 2,817
Cash at bank and in hand 11,218 19,118
36,506 21,935
Creditors: Amounts Falling Due Within One Year 7 (447,851 ) (466,218 )
NET CURRENT ASSETS (LIABILITIES) (411,345 ) (444,283 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,985,248 2,948,012
Creditors: Amounts Falling Due After More Than One Year 8 (2,510,954 ) (2,484,446 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (70,911 ) (70,911 )
NET ASSETS 403,383 392,655
CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair Value Reserve 11 397,947 397,947
Profit and Loss Account 5,336 (5,392 )
SHAREHOLDERS' FUNDS 403,383 392,655
Page 1
Page 2
For the year ending 31 December 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 Robert Staegemann
Director
24/07/2024
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
Tin Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09899518 . The registered office is Office 15 Bramley House 2a, Bramley Road, Long Eaton, NG10 3SX.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. 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 Not depreciated
Leasehold Not depreciated
Plant & Machinery 20% on a reducing balance basis
Fixtures & Fittings 25% on a reducing balance basis
Computer Equipment 25% on a reducing balance basis
2.5. 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.
2.6. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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:
2023 2022
Office and administration 2 2
2 2
4. Tangible Assets
Land & Property
Freehold Investment Properties Plant & Machinery Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 40,132 3,340,001 3,347 22,951
Additions 6,701 399 - -
As at 31 December 2023 46,833 3,340,400 3,347 22,951
Depreciation
As at 1 January 2023 - - 1,704 14,672
Provided during the period - - 329 2,070
As at 31 December 2023 - - 2,033 16,742
Net Book Value
As at 31 December 2023 46,833 3,340,400 1,314 6,209
As at 1 January 2023 40,132 3,340,001 1,643 8,279
Computer Equipment Total
£ £
Cost
As at 1 January 2023 3,578 3,410,009
Additions 129 7,229
As at 31 December 2023 3,707 3,417,238
Depreciation
As at 1 January 2023 1,473 17,849
Provided during the period 532 2,931
As at 31 December 2023 2,005 20,780
Net Book Value
As at 31 December 2023 1,702 3,396,458
As at 1 January 2023 2,105 3,392,160
Page 4
Page 5
5. Investments
Unlisted
£
Cost
As at 1 January 2023 135
As at 31 December 2023 135
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 135
As at 1 January 2023 135
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 476 -
Other debtors 23,708 1,713
Corporation tax recoverable assets 1,104 1,104
25,288 2,817
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1
Corporation tax 3,810 -
Other taxes and social security 292 241
Tenant deposits 11,125 3,340
Other creditors (1) 97,550 105,552
Other creditors (2) 10,000 -
Other creditors (3) 5,500 -
Directors' loan accounts 319,574 357,084
447,851 466,218
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 2,490,954 2,464,446
Other creditors 20,000 20,000
2,510,954 2,484,446
Page 5
Page 6
9. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 2,464,287 2,428,187
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
11. Reserves
Fair Value Reserve
£
As at 1 January 2023 397,947
As at 31 December 2023 397,947
12. Related Party Transactions
Within other creditors due within 1 year is an amount of £12,500 (2022: £10,500) owed to Cyceco Limited. Robert Staegemann is a director in both companies.
13. Ultimate Controlling Party
The company's ultimate controlling party is Robert Stageman by virtue of his ownership of 55% of the issued share capital in the company.
Page 6