Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05767474 Mrs C Green J C Rockett Mr M C Rea iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05767474 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-03-31 05767474 2023-03-31 05767474 2024-03-31 05767474 2023-04-01 2024-03-31 05767474 frs-core:CurrentFinancialInstruments 2024-03-31 05767474 frs-core:Non-currentFinancialInstruments 2024-03-31 05767474 frs-core:ComputerEquipment 2024-03-31 05767474 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05767474 frs-core:ComputerEquipment 2023-03-31 05767474 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 05767474 frs-core:InvestmentPropertyIncludedWithinPPE 2023-03-31 05767474 frs-core:OtherReservesSubtotal 2024-03-31 05767474 frs-core:ShareCapital 2024-03-31 05767474 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05767474 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05767474 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05767474 frs-bus:SmallEntities 2023-04-01 2024-03-31 05767474 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05767474 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05767474 frs-bus:Director1 2023-04-01 2024-03-31 05767474 frs-bus:Director2 2023-04-01 2024-03-31 05767474 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 05767474 frs-countries:EnglandWales 2023-04-01 2024-03-31 05767474 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 05767474 2022-03-31 05767474 2023-03-31 05767474 2022-04-01 2023-03-31 05767474 frs-core:CurrentFinancialInstruments 2023-03-31 05767474 frs-core:Non-currentFinancialInstruments 2023-03-31 05767474 frs-core:OtherReservesSubtotal 2023-03-31 05767474 frs-core:ShareCapital 2023-03-31 05767474 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05767474
Greenrock Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05767474
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 950,002 950,002
950,002 950,002
CURRENT ASSETS
Debtors 4 3,567 29,092
Cash at bank and in hand 1,667 2,505
5,234 31,597
Creditors: Amounts Falling Due Within One Year 5 (112,445 ) (138,356 )
NET CURRENT ASSETS (LIABILITIES) (107,211 ) (106,759 )
TOTAL ASSETS LESS CURRENT LIABILITIES 842,791 843,243
Creditors: Amounts Falling Due After More Than One Year 6 (584,193 ) (585,804 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,445 ) (8,046 )
NET ASSETS 247,153 249,393
CAPITAL AND RESERVES
Called up share capital 8 100,000 100,000
Other reserves 163,708 163,708
Profit and Loss Account (16,555 ) (14,315 )
SHAREHOLDERS' FUNDS 247,153 249,393
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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 C Green
Director
21 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
1.2. 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.
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.
1.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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:
Computer equipment 33 1/3% Straight Line
1.4. Investment Properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
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.
1.5. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
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3. Tangible Assets
Investment Properties Computer equipment Total
£ £ £
Cost or Valuation
As at 1 April 2023 950,000 1,801 951,801
As at 31 March 2024 950,000 1,801 951,801
Depreciation
As at 1 April 2023 - 1,799 1,799
As at 31 March 2024 - 1,799 1,799
Net Book Value
As at 31 March 2024 950,000 2 950,002
As at 1 April 2023 950,000 2 950,002
4. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 525
Other debtors 3,567 28,567
3,567 29,092
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 1,611 1,611
Accruals and deferred income 3,457 3,714
Directors' loan accounts 107,377 133,031
112,445 138,356
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 584,193 585,804
584,193 585,804
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 393,177 394,788
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7. Secured Creditors
Of the creditors the following amounts are secured.
The loans held are 100% secured via the government-backed bounce back loan scheme, and via fixed charges dated 02/07/2007, 01/04/2008, 08/12/2008, 17/04/2020, 22/10/2021, and 18/03/2022 over the properties to which they relate.
2024 2023
£ £
Bank loans and overdrafts 585,804 587,415
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100,000 100,000
9. Reserves
The profit and loss reserve account records retained earnings and accumulated losses.
The other reserve account records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.
Distributable and non-distributable reserves are as follows:
Profit and (loss) distributable
As at 31/03/2024 - (£16,555)
As at 31/03/2023 - (£14,315)
Profit and (loss) non-distributable
As at 31/03/2024 - £163,708
As at 31/03/2023 - £163,708
10. Related Party Transactions
The following related party transactions were undertaken during the year:
During the year a director introduced amounts totalling £30,234 and withdrew amounts totalling £55,888 (2023: introduced amounts totalling £22,595 and withdrew amounts totalling £5,406). At the balance sheet date the amount owed to the director was £107,377 (2023: £133,031).
No dividends were paid to the directors in respect of their shareholdings during the current or previous accounting periods.
The aggregate remuneration paid to key management personnel for the year was £11,020 (2023: £10,320).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
11. Going Concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
12. General Information
Greenrock Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05767474 . The registered office is Liscard Business Centre, 188 Liscard Road, Liscard, Wallasey, Merseyside, CH44 5TN.
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