Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09866832 Mr. Sami Barakas Mr Admon Cohen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09866832 2022-12-31 09866832 2023-12-31 09866832 2023-01-01 2023-12-31 09866832 frs-core:CurrentFinancialInstruments 2023-12-31 09866832 frs-core:Non-currentFinancialInstruments 2023-12-31 09866832 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 09866832 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 09866832 frs-core:ShareCapital 2023-12-31 09866832 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09866832 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09866832 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09866832 frs-bus:SmallEntities 2023-01-01 2023-12-31 09866832 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09866832 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09866832 frs-bus:Director1 2023-01-01 2023-12-31 09866832 frs-bus:Director2 2023-01-01 2023-12-31 09866832 frs-core:CurrentFinancialInstruments 2 2023-12-31 09866832 frs-countries:EnglandWales 2023-01-01 2023-12-31 09866832 2021-12-31 09866832 2022-12-31 09866832 2022-01-01 2022-12-31 09866832 frs-core:CurrentFinancialInstruments 2022-12-31 09866832 frs-core:Non-currentFinancialInstruments 2022-12-31 09866832 frs-core:ShareCapital 2022-12-31 09866832 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09866832 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 09866832
Get Properties 3 Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09866832
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,300,000 1,300,000
1,300,000 1,300,000
CURRENT ASSETS
Debtors 5 19,752 12,500
Cash at bank and in hand 8,192 12,306
27,944 24,806
Creditors: Amounts Falling Due Within One Year 6 (868,046 ) (867,392 )
NET CURRENT ASSETS (LIABILITIES) (840,102 ) (842,586 )
TOTAL ASSETS LESS CURRENT LIABILITIES 459,898 457,414
Creditors: Amounts Falling Due After More Than One Year 7 (500,000 ) (500,000 )
NET LIABILITIES (40,102 ) (42,586 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (40,202 ) (42,686 )
SHAREHOLDERS' FUNDS (40,102) (42,586)
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 Admon Cohen
Director
05/08/2024
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
Get Properties 3 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09866832 . The registered office is 179 Regents Park Road, London, N3 PB.
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 company has a deficit balance sheet and made a profit this year. However, most of the long term funding for
the company is by way of ultimate owners of the company. The ultimate owners of the company made a
commitment not to seek repayment of the loan within the foreseeable future. The ultimate owners of the company
are confident that the company will trade out of its current difficulties.
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Investment Properties
£
Cost
As at 1 January 2023 1,300,000
As at 31 December 2023 1,300,000
Net Book Value
As at 31 December 2023 1,300,000
As at 1 January 2023 1,300,000
The bank loan is secured against the investment property.
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Page 4
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 92 -
Debtors - inter-companies 19,660 12,500
19,752 12,500
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 35 -
Other creditors 858,950 858,951
Accruals and deferred income 8,961 8,341
Directors' loan accounts 100 100
868,046 867,392
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 500,000 500,000
500,000 500,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Included in the other debtors due within one year, the following amounts are due from companies which are controlled by the same directors:-
Triple VVV (1) Ltd - £16,660
Page 4