Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09350088 Mr Costas Mouyiaris Mr Costas Mouyiaris true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09350088 2022-12-31 09350088 2023-12-31 09350088 2023-01-01 2023-12-31 09350088 frs-core:CurrentFinancialInstruments 2023-12-31 09350088 frs-core:Non-currentFinancialInstruments 2023-12-31 09350088 frs-core:ComputerEquipment 2023-12-31 09350088 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09350088 frs-core:ComputerEquipment 2022-12-31 09350088 frs-core:FurnitureFittings 2023-12-31 09350088 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09350088 frs-core:FurnitureFittings 2022-12-31 09350088 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 09350088 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09350088 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 09350088 frs-core:RevaluationReserve 2022-12-31 09350088 frs-core:RevaluationReserve 2023-12-31 09350088 frs-core:ShareCapital 2023-12-31 09350088 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09350088 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09350088 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09350088 frs-bus:SmallEntities 2023-01-01 2023-12-31 09350088 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09350088 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09350088 1 2023-01-01 2023-12-31 09350088 frs-bus:Director1 2023-01-01 2023-12-31 09350088 frs-countries:EnglandWales 2023-01-01 2023-12-31 09350088 2021-12-31 09350088 2022-12-31 09350088 2022-01-01 2022-12-31 09350088 frs-core:CurrentFinancialInstruments 2022-12-31 09350088 frs-core:Non-currentFinancialInstruments 2022-12-31 09350088 frs-core:RevaluationReserve 2022-12-31 09350088 frs-core:ShareCapital 2022-12-31 09350088 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Maplehill Property Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09350088
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,450,000 1,450,577
1,450,000 1,450,577
CURRENT ASSETS
Debtors 4 38,000 6,138
Cash at bank and in hand 5,838 2,834
43,838 8,972
Creditors: Amounts Falling Due Within One Year 5 (44,793 ) (25,217 )
NET CURRENT ASSETS (LIABILITIES) (955 ) (16,245 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,449,045 1,434,332
Creditors: Amounts Falling Due After More Than One Year 6 (907,859 ) (919,654 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (106,100 ) (79,524 )
NET ASSETS 435,086 435,154
CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 345,400 371,976
Profit and Loss Account 89,685 63,177
SHAREHOLDERS' FUNDS 435,086 435,154
Page 1
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 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
Mr Costas Mouyiaris
Director
04/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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:
Freehold 0%
Fixtures & Fittings Small Balance Written Off
Computer Equipment Small Balance Written Off
1.3. 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 & Loss Account. The values reflected in the accounts are per the Director related to a Professional Valuations carried out in previous years.
1.4. 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. Average Number of Employees
Average number of employees, excluding directors, during the year was as follows: NIL (2022: NIL)
- -
3. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 1,450,000 3,240 847 1,454,087
As at 31 December 2023 1,450,000 3,240 847 1,454,087
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 January 2023 - 2,663 847 3,510
Provided during the period - 577 - 577
As at 31 December 2023 - 3,240 847 4,087
Net Book Value
As at 31 December 2023 1,450,000 - - 1,450,000
As at 1 January 2023 1,450,000 577 - 1,450,577
4. Debtors
2023 2022
£ £
Due within one year
Other debtors 1,000 1,138
Amounts owed by associates 37,000 5,000
38,000 6,138
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 24,440 6,921
Bank loans and overdrafts 12,000 13,000
Corporation tax 6,764 4,103
VAT 1,380 988
Accruals and deferred income 209 205
44,793 25,217
Bank Loans repayable in 1 Year £12,000 (2022 - £13,000)
These Loans are secured on the Investment Property of the Company
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 907,859 919,654
907,859 919,654
Bank Loans £907,859 (2022 - £919,654)
These Loans are secured on the Investment Property of the Company
7. Deferred Taxation
The provision for deferred taxation is made up of tax that would have been payable should the Investment Property have been dispsed of at the Year End at the value it is sitting on the Balance Sheet.
The deferred Taxation Provision was increased from £79,524 (01.01.23) to £106,100 (31.12.23) an increase of £26,576 to reflect the chasnges in Corporation Tax Rates in the year.
2023 2022
£ £
Other timing differences 106,100 79,524
Page 4
Page 5
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Reserves
Revaluation Reserve
£
As at 1 January 2023 371,976
Deficit on revaluation (26,576)
As at 31 December 2023 345,400
The Balance on Revaluation Reserve represents the increase in valuation over cost less the deferred taxation liable on that gain
10. Ultimate Controlling Party
The company's ultimate controlling party is Costas Mouyiaris by virtue of his ownership of 100% of the issued share capital in the company.
Page 5