Acorah Software Products - Accounts Production 14.6.300 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 12800357 Rasul Chatoo the director true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12800357 2022-08-31 12800357 2023-08-31 12800357 2022-09-01 2023-08-31 12800357 frs-core:CurrentFinancialInstruments 2023-08-31 12800357 frs-core:Non-currentFinancialInstruments 2023-08-31 12800357 frs-core:InvestmentPropertyIncludedWithinPPE 2023-08-31 12800357 frs-core:InvestmentPropertyIncludedWithinPPE 2022-08-31 12800357 frs-core:ShareCapital 2023-08-31 12800357 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 12800357 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12800357 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 12800357 frs-bus:SmallEntities 2022-09-01 2023-08-31 12800357 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12800357 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12800357 1 2022-09-01 2023-08-31 12800357 frs-bus:Director1 2022-09-01 2023-08-31 12800357 frs-countries:EnglandWales 2022-09-01 2023-08-31 12800357 2021-08-31 12800357 2022-08-31 12800357 2021-09-01 2022-08-31 12800357 frs-core:CurrentFinancialInstruments 2022-08-31 12800357 frs-core:Non-currentFinancialInstruments 2022-08-31 12800357 frs-core:ShareCapital 2022-08-31 12800357 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 12800357
R Chatoo Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12800357
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,105,000 955,862
1,105,000 955,862
CURRENT ASSETS
Debtors 5 1,228 600
Cash at bank and in hand 12,788 2,095
14,016 2,695
Creditors: Amounts Falling Due Within One Year 6 (280,395 ) (253,930 )
NET CURRENT ASSETS (LIABILITIES) (266,379 ) (251,235 )
TOTAL ASSETS LESS CURRENT LIABILITIES 838,621 704,627
Creditors: Amounts Falling Due After More Than One Year 7 (731,666 ) (689,682 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,202 ) (3,866 )
NET ASSETS 87,753 11,079
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 87,653 10,979
SHAREHOLDERS' FUNDS 87,753 11,079
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Rasul Chatoo
Director
20 August 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
R Chatoo Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12800357 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
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
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
2.3. 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 years 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.
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 assets reflect 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: 1 (2022: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 September 2022 955,862
Additions 63,427
Revaluation 85,711
As at 31 August 2023 1,105,000
Net Book Value
As at 31 August 2023 1,105,000
As at 1 September 2022 955,862
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The investment properties are valued as at 31 August 2023, by directors of the company based on the assessment of available market information and property condition. The directors believe the their valuation would not be materially different from the professional valuation.
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 635 -
Other debtors 461 600
Amounts owed by other related parties 132 -
1,228 600
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 1,477 -
Accruals and deferred income 840 840
Director's loan account 278,078 253,090
280,395 253,930
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 731,666 689,682
8. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 731,666 689,682
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Included in creditors due within one year is an amount of £278,078 (2022: £253,090 ) owed to its director. The amount is interest free and repayable on demand.
Included in debtors due within one year is an amount of £132 (2022: Nil) owed by a related party. The amount is interest free and receivable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of the ownership of 100% of the issued share capital in the company.
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