Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 April 2022 false 1 January 2023 31 December 2023 31 December 2023 11233827 Mr Adrian Holt Mr Nicholas Symons iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11233827 2022-12-31 11233827 2023-12-31 11233827 2023-01-01 2023-12-31 11233827 frs-core:CurrentFinancialInstruments 2023-12-31 11233827 frs-core:Non-currentFinancialInstruments 2023-12-31 11233827 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 11233827 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 11233827 frs-core:SharePremium 2023-12-31 11233827 frs-core:ShareCapital 2023-12-31 11233827 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11233827 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11233827 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11233827 frs-bus:SmallEntities 2023-01-01 2023-12-31 11233827 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11233827 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11233827 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 11233827 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 11233827 frs-core:UnlistedNon-exchangeTraded 2023-12-31 11233827 frs-core:UnlistedNon-exchangeTraded 2022-12-31 11233827 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 11233827 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 11233827 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 11233827 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 11233827 frs-bus:Director1 2023-01-01 2023-12-31 11233827 frs-bus:Director2 2023-01-01 2023-12-31 11233827 frs-countries:EnglandWales 2023-01-01 2023-12-31 11233827 2022-03-31 11233827 2022-12-31 11233827 2022-04-01 2022-12-31 11233827 frs-core:CurrentFinancialInstruments 2022-12-31 11233827 frs-core:Non-currentFinancialInstruments 2022-12-31 11233827 frs-core:SharePremium 2022-12-31 11233827 frs-core:ShareCapital 2022-12-31 11233827 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11233827 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31
Registered number: 11233827
Ace Kind Property Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Sempar Accountancy and Tax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11233827
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,195,000 1,150,000
Investments 5 2,185 2,185
1,197,185 1,152,185
CURRENT ASSETS
Debtors 6 1,670 1,752
Cash at bank and in hand 212,181 10,288
213,851 12,040
Creditors: Amounts Falling Due Within One Year 7 (15,293 ) (33,253 )
NET CURRENT ASSETS (LIABILITIES) 198,558 (21,213 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,395,743 1,130,972
Creditors: Amounts Falling Due After More Than One Year 8 (530,123 ) (320,710 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (36,860 ) (37,777 )
NET ASSETS 828,760 772,485
CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Share premium account 464,151 464,151
Fair Value Reserve 12 157,142 113,332
Profit and Loss Account 205,467 193,002
SHAREHOLDERS' FUNDS 828,760 772,485
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Page 2
For the year ending 31 December 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 Adrian Holt
Director
Mr Nicholas Symons
Director
29 August 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
Ace Kind Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11233827 . The registered office is Haughton House, Haughton Lane, Shifnal, TF11 8HG.
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. Turnover includes revenue earned from rental income.
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. The fair value is as per the director. Changes in fair value are recognised in the profit and loss account.
2.4. 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.
2.5. Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements on the basis that the company and its subsidiary undertaking comprise a small group as defined by Companies Act 2006.
2.6. Unlisted investments
Unlisted investments are included at cost less impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
31 December 2023 31 December 2022
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 January 2023 1,150,000
Additions 2,108
Revaluation 42,892
As at 31 December 2023 1,195,000
Net Book Value
As at 31 December 2023 1,195,000
As at 1 January 2023 1,150,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:£539,031 (2022: £526,923)
Investment property is recognised at fair value represented by the above. The directors have considered the valuation of the investment properties and in their opinion the revalued amount is in line with the open market value. Revaluation gains and losses are taken to the profit & loss account  in accordance with the accounting policy. 
If the properties were sold at the current market value an estimated charge to corporation tax would arise of £36,860 (2022: £37,777).
5. Investments
Unlisted
£
Cost
As at 1 January 2023 2,185
As at 31 December 2023 2,185
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 2,185
As at 1 January 2023 2,185
Investments represent shares in wholly owned subsidiary undertaking Ace Kind Limited, a company incorporated in England and Wales.
6. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Prepayments and accrued income 620 702
Other debtors 1,050 1,050
1,670 1,752
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Page 5
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Bank loans and overdrafts - 14,323
Corporation tax 1,043 3,601
Other creditors 1,050 1,050
Accruals and deferred income 1,452 1,320
Directors' loan accounts 11,748 12,959
15,293 33,253
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Bank loans 530,123 320,710
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Bank loans are secured on the assets concerned.
31 December 2023 31 December 2022
£ £
Bank loans and overdrafts 530,123 335,033
10. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 2,000 2,000
11. Directors Advances, Credits and Guarantees
Total dividends paid to directors in the year were £8,300 (period ended 31 December 2022: £15,500).
12. Reserves
Fair Value Reserve
£
As at 1 January 2023 113,332
Movements in fair value reserve 43,810
As at 31 December 2023 157,142
13. Related Party Transactions
Dividends received from the subsidiary company Ace Kind Limited in the year were: £16,320 (period ended 31 December 2022: £105,961).
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