Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 09611068 Ms Anna Harding Mr David Harding iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09611068 2022-08-31 09611068 2023-08-31 09611068 2022-09-01 2023-08-31 09611068 frs-core:CurrentFinancialInstruments 2023-08-31 09611068 frs-core:Non-currentFinancialInstruments 2023-08-31 09611068 frs-core:ComputerEquipment 2023-08-31 09611068 frs-core:ComputerEquipment 2022-09-01 2023-08-31 09611068 frs-core:ComputerEquipment 2022-08-31 09611068 frs-core:FurnitureFittings 2023-08-31 09611068 frs-core:FurnitureFittings 2022-09-01 2023-08-31 09611068 frs-core:FurnitureFittings 2022-08-31 09611068 frs-core:RevaluationReserve 2022-08-31 09611068 frs-core:RevaluationReserve 2023-08-31 09611068 frs-core:ShareCapital 2023-08-31 09611068 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 09611068 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09611068 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 09611068 frs-bus:SmallEntities 2022-09-01 2023-08-31 09611068 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09611068 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 09611068 frs-bus:Director1 2022-09-01 2023-08-31 09611068 frs-bus:Director2 2022-09-01 2023-08-31 09611068 frs-core:Non-currentFinancialInstruments 3 2023-08-31 09611068 frs-countries:EnglandWales 2022-09-01 2023-08-31 09611068 2021-08-31 09611068 2022-08-31 09611068 2021-09-01 2022-08-31 09611068 frs-core:CurrentFinancialInstruments 2022-08-31 09611068 frs-core:Non-currentFinancialInstruments 2022-08-31 09611068 frs-core:RevaluationReserve 2022-08-31 09611068 frs-core:ShareCapital 2022-08-31 09611068 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 09611068 frs-core:CurrentFinancialInstruments 3 2022-08-31 09611068 frs-core:Non-currentFinancialInstruments 3 2022-08-31
Registered number: 09611068
P H Property Assets limited
Financial Statements
For The Year Ended 31 August 2023
JDL Business Services Limited
Accountants and Consultants
304 High Road
Benfleet
Essex
SS7 5HB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09611068
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,259 3,834
Investment Properties 5 956,539 781,539
959,798 785,373
CURRENT ASSETS
Debtors 6 314,165 314,110
Cash at bank and in hand 2,209 2,132
316,374 316,242
Creditors: Amounts Falling Due Within One Year 7 (10,291 ) (21,923 )
NET CURRENT ASSETS (LIABILITIES) 306,083 294,319
TOTAL ASSETS LESS CURRENT LIABILITIES 1,265,881 1,079,692
Creditors: Amounts Falling Due After More Than One Year 8 (1,369,213 ) (1,177,345 )
NET LIABILITIES (103,332 ) (97,653 )
CAPITAL AND RESERVES
Called up share capital 9 6 6
Revaluation reserve 10 41,054 41,054
Profit and Loss Account (144,392 ) (138,713 )
SHAREHOLDERS' FUNDS (103,332) (97,653)
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 David Harding
Director
22/08/2024
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
P H Property Assets limited is a private company, limited by shares, incorporated in England & Wales, registered number 09611068 . The registered office is 304 High Road, Benfleet, Essex, SS7 5HB.
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. 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:
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
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: NIL (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 3,238 1,814 5,052
As at 31 August 2023 3,238 1,814 5,052
Depreciation
As at 1 September 2022 979 239 1,218
Provided during the period 339 236 575
As at 31 August 2023 1,318 475 1,793
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 August 2023 1,920 1,339 3,259
As at 1 September 2022 2,259 1,575 3,834
5. Investment Property
2023
£
Fair Value
As at 1 September 2022 781,539
Additions 175,000
As at 31 August 2023 956,539
6. Debtors
2023 2022
£ £
Due within one year
Due after more than one year
Amounts owed by related parties 314,165 314,110
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,278 216
Bank loans and overdrafts 4,976 4,976
Mortgage Account - Elizabeth Terrance & Horwick Mansions - 10,257
Accruals and deferred income 2,393 6,474
Directors' loan accounts 644 -
10,291 21,923
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,661 29,794
Mortgage Account over 1 year 139,221 175,220
Amounts owed to parent undertaking 1,204,331 972,331
1,369,213 1,177,345
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 6 6
Page 4
Page 5
10. Reserves
Revaluation Reserve
£
As at 1 September 2022 41,054
As at 31 August 2023 41,054
Page 5