Acorah Software Products - Accounts Production 14.6.300 false true true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 10304374 Mr Darren Williams Mr Lewis Williams Mrs Paula Williams true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10304374 2022-08-31 10304374 2023-08-31 10304374 2022-09-01 2023-08-31 10304374 frs-core:CurrentFinancialInstruments 2023-08-31 10304374 frs-core:Non-currentFinancialInstruments 2023-08-31 10304374 frs-core:ComputerEquipment 2023-08-31 10304374 frs-core:ComputerEquipment 2022-09-01 2023-08-31 10304374 frs-core:ComputerEquipment 2022-08-31 10304374 frs-core:FurnitureFittings 2023-08-31 10304374 frs-core:FurnitureFittings 2022-09-01 2023-08-31 10304374 frs-core:FurnitureFittings 2022-08-31 10304374 frs-core:MotorVehicles 2023-08-31 10304374 frs-core:MotorVehicles 2022-09-01 2023-08-31 10304374 frs-core:MotorVehicles 2022-08-31 10304374 frs-core:ShareCapital 2023-08-31 10304374 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 10304374 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10304374 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 10304374 frs-bus:SmallEntities 2022-09-01 2023-08-31 10304374 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10304374 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 10304374 frs-bus:OrdinaryShareClass2 2022-09-01 2023-08-31 10304374 frs-bus:OrdinaryShareClass2 2023-08-31 10304374 frs-bus:OrdinaryShareClass3 2022-09-01 2023-08-31 10304374 frs-bus:OrdinaryShareClass3 2023-08-31 10304374 frs-bus:OrdinaryShareClass4 2022-09-01 2023-08-31 10304374 frs-bus:OrdinaryShareClass4 2023-08-31 10304374 frs-bus:OrdinaryShareClass5 2022-09-01 2023-08-31 10304374 frs-bus:OrdinaryShareClass5 2023-08-31 10304374 1 2022-09-01 2023-08-31 10304374 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-08-31 10304374 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31 10304374 frs-bus:Director1 2022-09-01 2023-08-31 10304374 frs-bus:Director2 2022-09-01 2023-08-31 10304374 frs-bus:Director3 2022-09-01 2023-08-31 10304374 frs-core:CurrentFinancialInstruments 1 2023-08-31 10304374 frs-countries:EnglandWales 2022-09-01 2023-08-31 10304374 2021-08-31 10304374 2022-08-31 10304374 2021-09-01 2022-08-31 10304374 frs-core:CurrentFinancialInstruments 2022-08-31 10304374 frs-core:Non-currentFinancialInstruments 2022-08-31 10304374 frs-core:ShareCapital 2022-08-31 10304374 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 10304374 frs-bus:OrdinaryShareClass2 2021-09-01 2022-08-31 10304374 frs-bus:OrdinaryShareClass3 2021-09-01 2022-08-31 10304374 frs-bus:OrdinaryShareClass4 2021-09-01 2022-08-31 10304374 frs-bus:OrdinaryShareClass5 2021-09-01 2022-08-31 10304374 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-08-31 10304374 frs-core:CurrentFinancialInstruments 1 2022-08-31
Registered number: 10304374
Elite Property Solutions (Cumbria) Limited
Unaudited Financial Statements
For The Year Ended 31 August 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—5
Page 1
Balance Sheet
Registered number: 10304374
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,989 9,985
Investment Properties 5 1,224,504 1,224,504
1,232,493 1,234,489
CURRENT ASSETS
Cash at bank and in hand 7,677 12,680
7,677 12,680
Creditors: Amounts Falling Due Within One Year 6 (619,629 ) (717,178 )
NET CURRENT ASSETS (LIABILITIES) (611,952 ) (704,498 )
TOTAL ASSETS LESS CURRENT LIABILITIES 620,541 529,991
Creditors: Amounts Falling Due After More Than One Year 7 (928,002 ) (765,946 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (44,751 ) (44,751 )
NET LIABILITIES (352,212 ) (280,706 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair Value Reserve 10 264,994 264,994
Profit and Loss Account (617,306 ) (545,800 )
SHAREHOLDERS' FUNDS (352,212) (280,706)
Page 1
Page 2
For the year ending 31 August 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 Darren Williams
Director
14/08/2024
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
Elite Property Solutions (Cumbria) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10304374 . The registered office is C/O Optimise Accountants Ltd, Bramley House, 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:
Motor Vehicles 20% reducing balance basis
Fixtures & Fittings 20% reducing balance basis
Computer Equipment 20% reducing balance basis
2.5. Investment Properties
Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2022 5,295 17,517 332 23,144
As at 31 August 2023 5,295 17,517 332 23,144
...CONTINUED
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Page 4
Depreciation
As at 1 September 2022 3,162 9,783 214 13,159
Provided during the period 427 1,546 23 1,996
As at 31 August 2023 3,589 11,329 237 15,155
Net Book Value
As at 31 August 2023 1,706 6,188 95 7,989
As at 1 September 2022 2,133 7,734 118 9,985
5. Investment Property
2023
£
Fair Value
As at 1 September 2022 and 31 August 2023 1,224,504
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 40,000 40,000
Other creditors (1) 107,474 100,322
Directors' loan accounts 472,155 576,856
619,629 717,178
At the Balance Sheet date, the company owed £33,528 to Elite Property Management (Cumbria) Ltd, £32,500 to Lakes Lettings Ltd, £39,000 to Lakes Premier Property Ltd, £1,000 to Lake City Consulting and The Lakes Property Group Ltd owed £500 which are companies registered in England & Wales. The directors & shareholders of Elite Property Solutions (Cumbria) Limited are also directors & shareholders of Elite Property Management (Cumbria) Ltd, Lakes Premier Property Ltd, Lakes Lettings Ltd & Lake City Consulting.
The loans are interest free and is repayable on demand. It is included within Other creditors (1)
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 928,002 765,946
8. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 928,002 765,946
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
25 Ordinary A shares of £ 1.000 each 25 25
25 Ordinary B shares of £ 1.000 each 25 25
25 Ordinary C shares of £ 1.000 each 25 25
25 Ordinary D shares of £ 1.000 each 25 25
100 100
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Page 5
10. Reserves
Fair Value Reserve
£
As at 1 September 2022 264,994
As at 31 August 2023 264,994
11. Ultimate Controlling Party
There is no ultimate controlling party as all shareholders have equal holding in the issued share capital of the company.
Page 5