Acorah Software Products - Accounts Production 15.0.500 false true false 1 April 2023 31 March 2024 31 March 2024 SC760713 Mr Damien Mills Mrs Deborah Mills iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC760713 2023-03-31 SC760713 2024-03-31 SC760713 2023-04-01 2024-03-31 SC760713 frs-core:CurrentFinancialInstruments 2024-03-31 SC760713 frs-core:Non-currentFinancialInstruments 2024-03-31 SC760713 frs-core:ShareCapital 2024-03-31 SC760713 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC760713 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC760713 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC760713 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC760713 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC760713 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC760713 frs-bus:Director1 2023-04-01 2024-03-31 SC760713 frs-bus:Director2 2023-04-01 2024-03-31 SC760713 frs-countries:Scotland 2023-04-01 2024-03-31
Registered number: SC760713
Properties Sold Fast Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ward Accountancy Practice Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC760713
2024
Notes £ £
FIXED ASSETS
Investment Properties 4 134,463
134,463
CURRENT ASSETS
Debtors 5 2
Cash at bank and in hand 1,857
1,859
Creditors: Amounts Falling Due Within One Year 6 (53,974 )
NET CURRENT ASSETS (LIABILITIES) (52,115 )
TOTAL ASSETS LESS CURRENT LIABILITIES 82,348
Creditors: Amounts Falling Due After More Than One Year 7 (93,750 )
NET LIABILITIES (11,402 )
CAPITAL AND RESERVES
Called up share capital 8 2
Profit and Loss Account (11,404 )
SHAREHOLDERS' FUNDS (11,402)
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 Profit and Loss Account.
On behalf of the board
Mrs Deborah Mills
Director
14/07/2024
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
Properties Sold Fast Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC760713 . The registered office is 3 Rashieburn, Erskine, PA8 6DT.
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. 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
2
4. Investment Property
2024
£
Fair Value
As at 1 April 2023 -
Additions 134,463
As at 31 March 2024 134,463
5. Debtors
2024
£
Due within one year
Other debtors 2
6. Creditors: Amounts Falling Due Within One Year
2024
£
Trade creditors 1
Other creditors 53,973
53,974
Page 3
Page 4
7. Creditors: Amounts Falling Due After More Than One Year
2024
£
Other loans 93,750
8. Share Capital
2024
£
Allotted, Called up and fully paid 2
Page 4