Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 31 May 2022 false false true 1 January 2023 31 December 2023 31 December 2023 14143063 Mr Bartosz Tomaszewski 31 December 2023 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14143063 2023-12-31 14143063 2023-01-01 2023-12-31 14143063 frs-core:CurrentFinancialInstruments 2023-12-31 14143063 frs-core:Non-currentFinancialInstruments 2023-12-31 14143063 frs-core:SharePremium 2023-12-31 14143063 frs-core:ShareCapital 2023-12-31 14143063 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14143063 frs-bus:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 14143063 frs-core:UnlistedNon-exchangeTraded 2023-12-31 14143063 frs-core:UnlistedNon-exchangeTraded 2022-12-31 14143063 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 14143063 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 14143063 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 14143063 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 14143063 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 14143063 frs-bus:Director1 2023-01-01 2023-12-31 14143063 frs-core:Non-currentFinancialInstruments 2 2023-12-31 14143063 frs-bus:Consolidated 2022-12-31 14143063 frs-bus:Consolidated 2023-12-31 14143063 frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-core:CurrentFinancialInstruments frs-bus:Consolidated 2023-12-31 14143063 frs-core:Non-currentFinancialInstruments frs-bus:Consolidated 2023-12-31 14143063 frs-core:InvestmentPropertyIncludedWithinPPE frs-bus:Consolidated 2023-12-31 14143063 frs-core:InvestmentPropertyIncludedWithinPPE frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-core:InvestmentPropertyIncludedWithinPPE frs-bus:Consolidated 2022-12-31 14143063 frs-core:SharePremium frs-bus:Consolidated 2023-12-31 14143063 frs-core:ShareCapital frs-bus:Consolidated 2023-12-31 14143063 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2023-12-31 14143063 frs-bus:PrivateLimitedCompanyLtd frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-bus:FilletedAccounts frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-bus:SmallEntities frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-bus:AuditExempt-NoAccountantsReport frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-bus:SmallCompaniesRegimeForAccounts frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-core:UnlistedNon-exchangeTraded frs-bus:Consolidated 2023-12-31 14143063 frs-core:UnlistedNon-exchangeTraded frs-bus:Consolidated 2022-12-31 14143063 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded frs-bus:Consolidated 2022-12-31 14143063 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded frs-bus:Consolidated 2023-12-31 14143063 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded frs-bus:Consolidated 2023-12-31 14143063 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded frs-bus:Consolidated 2022-12-31 14143063 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded frs-bus:Consolidated 2023-12-31 14143063 frs-bus:Director1 frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 frs-core:Non-currentFinancialInstruments 2 frs-bus:Consolidated 2023-12-31 14143063 frs-countries:EnglandWales frs-bus:Consolidated 2023-01-01 2023-12-31 14143063 2022-05-30 14143063 2022-12-31 14143063 2022-05-31 2022-12-31 14143063 frs-core:CurrentFinancialInstruments 2022-12-31 14143063 frs-core:Non-currentFinancialInstruments 2022-12-31 14143063 frs-core:SharePremium 2022-12-31 14143063 frs-core:ShareCapital 2022-12-31 14143063 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 14143063 frs-core:Non-currentFinancialInstruments 2 2022-12-31 14143063 frs-bus:Consolidated 2022-12-31 14143063 frs-bus:Consolidated 2022-05-31 2022-12-31 14143063 frs-core:CurrentFinancialInstruments frs-bus:Consolidated 2022-12-31 14143063 frs-core:Non-currentFinancialInstruments frs-bus:Consolidated 2022-12-31 14143063 frs-core:SharePremium frs-bus:Consolidated 2022-05-30 14143063 frs-core:SharePremium frs-bus:Consolidated 2022-12-31 14143063 frs-core:ShareCapital frs-bus:Consolidated 2022-05-30 14143063 frs-core:ShareCapital frs-bus:Consolidated 2022-12-31 14143063 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2022-05-31 2022-12-31 14143063 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount frs-bus:Consolidated 2022-05-30 14143063 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2022-12-31 14143063 frs-core:Non-currentFinancialInstruments 2 frs-bus:Consolidated 2022-12-31
Registered number: 14143063
Tomaszewski Real Estate Holding Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Director's Report 1
Consolidated Profit and Loss Account 2
Consolidated Statement of Comprehensive Income 3
Consolidated Balance Sheet 4—5
Company Balance Sheet 6—7
Consolidated Statement of Changes in Equity 8
Notes to the Financial Statements 9—13
Page 1
Director's Report
The director presents his report and the financial statements for the year ended 31 December 2023.
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The director who held office during the year were as follows:
Mr Bartosz Tomaszewski
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Bartosz Tomaszewski
Director
22/04/2024
Page 1
Page 2
Consolidated Profit and Loss Account
31 December 2023 31 December 2022
as restated
Notes £ £
TURNOVER 587,735 274,351
Cost of sales (133,119 ) (72,410 )
GROSS PROFIT 454,616 201,941
Administrative expenses (32,724 ) (14,530 )
OPERATING PROFIT 421,892 187,411
Profit on revaluation of investment property 398,542 109,754
Interest payable and similar charges (338,426 ) (160,957 )
PROFIT BEFORE TAXATION 482,008 136,208
Tax on Profit (117,193 ) (9,193 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 364,815 127,015
The notes on pages 9 to 13 form part of these financial statements.
Page 2
Page 3
Consolidated Statement of Comprehensive Income
31 December 2023 31 December 2022
as restated
£ £
Profit for the financial year 364,815 127,015
Other comprehensive income for the year - -
Total comprehensive income for the year attributable to the owners of the parent 364,815 127,015
Page 3
Page 4
Consolidated Balance Sheet
Registered number: 14143063
31 December 2023 31 December 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 5,962,272 -
Investments 4 111 110
5,962,383 4,672,546
CURRENT ASSETS
Debtors 5 42,069 33,611
Cash at bank and in hand 21,784 265,363
63,853 298,974
Creditors: Amounts Falling Due Within One Year 6 (23,607 ) (14,493 )
NET CURRENT ASSETS (LIABILITIES) 40,246 284,481
TOTAL ASSETS LESS CURRENT LIABILITIES 6,002,629 4,957,027
Creditors: Amounts Falling Due After More Than One Year 7 (5,188,556 ) (4,602,352 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (115,768 ) (16,132 )
NET ASSETS 698,305 338,543
CAPITAL AND RESERVES
Called up share capital 8 112 111
Share premium account 125,000 115,000
Profit and Loss Account 573,193 223,432
SHAREHOLDERS' FUNDS 698,305 338,543
Page 4
Page 5
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.
On behalf of the board
Mr Bartosz Tomaszewski
Director
22/04/2024
The notes on pages 9 to 13 form part of these financial statements.
Page 5
Page 6
Company Balance Sheet
Registered number: 14143063
31 December 2023 31 December 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Investments 4 111 110
111 110
CURRENT ASSETS
Cash at bank and in hand 3,803 247,701
3,803 247,701
Creditors: Amounts Falling Due Within One Year 6 (550 ) (550 )
NET CURRENT ASSETS (LIABILITIES) 3,253 247,151
TOTAL ASSETS LESS CURRENT LIABILITIES 3,364 247,261
Creditors: Amounts Falling Due After More Than One Year 7 88,153 (144,508 )
NET ASSETS 91,517 102,753
CAPITAL AND RESERVES
Called up share capital 8 112 111
Share premium account 125,000 115,000
Profit and Loss Account (33,595 ) (12,358 )
SHAREHOLDERS' FUNDS 91,517 102,753
Page 6
Page 7
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 Bartosz Tomaszewski
Director
22/04/2024
The notes on pages 9 to 13 form part of these financial statements.
Page 7
Page 8
Consolidated Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 31 May 2022 111 - 102,867 102,978
Profit for the period and total comprehensive income - - 127,015 127,015
Dividends paid - - (6,450) (6,450)
Arising on shares issued during the period - 115,000 - 115,000
As at 31 December 2022 and 1 January 2023 as restated 111 115,000 223,432 338,543
Profit for the year and total comprehensive income - - 364,815 364,815
Dividends paid - - (15,054) (15,054)
Arising on shares issued during the period - 10,000 - 10,000
As at 31 December 2023 112 125,000 573,193 698,305
Page 8
Page 9
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. Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2023.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
1.3. Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
Page 9
Page 10
1.4. 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.
1.5. 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:
1.6. 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.
1.7. 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 group'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
Group
Average number of employees, including directors, during the year was as follows: 1 (2022: 1)
Company
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
1 1
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3. Tangible Assets
Group
Investment Properties
£
Cost or Valuation
As at 1 January 2023 4,672,436
Additions 903,648
Disposals (12,354 )
Revaluation 398,542
As at 31 December 2023 5,962,272
Net Book Value
As at 31 December 2023 5,962,272
As at 1 January 2023 4,672,436
4. Investments
Group
Unlisted
£
Cost
As at 1 January 2023 110
Additions 1
As at 31 December 2023 111
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 111
As at 1 January 2023 110
Company
Unlisted
£
Cost
As at 1 January 2023 110
Additions 1
As at 31 December 2023 111
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 111
As at 1 January 2023 110
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Page 12
Investments represent the following wholly owned, UK registered, subsidiaries of the company as at 31 December 2023: 
Name
Sevenoaks First Estates Ltd 
Alfred Avenue First Estates Ltd 
Estcourt First Estates Ltd 
Elmerside First Estates Ltd 
Brownhill First Estates Ltd 
Clapton First Estates Ltd
Catford First Estates Ltd 
Elmers End First Estates Ltd 
Summerstown First Estates Ltd 
5. Debtors
Group Company
31 December 2023 31 December 2022
as restated
31 December 2023 31 December 2022
as restated
£ £ £ £
Due within one year
Trade debtors 42,069 33,611 - -
42,069 33,611 - -
6. Creditors: Amounts Falling Due Within One Year
Group Company
31 December 2023 31 December 2022
as restated
31 December 2023 31 December 2022
as restated
£ £ £ £
Corporation tax 17,557 9,193 - -
Accruals and deferred income 6,050 5,300 550 550
23,607 14,493 550 550
7. Creditors: Amounts Falling Due After More Than One Year
Group Company
31 December 2023 31 December 2022
as restated
31 December 2023 31 December 2022
as restated
£ £ £ £
Bank loans 4,369,865 3,750,762 - -
Other loans 85,000 - 85,000 -
Related company loan 69,296 51,151 69,296 53,779
Directors loan account 664,395 800,439 637,839 800,439
5,188,556 4,602,352 (88,153 ) 144,508
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8. Share Capital
31 December 2023 31 December 2022
as restated
£ £
Allotted, Called up and fully paid 112 111
9. General Information
Tomaszewski Real Estate Holding Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14143063 . The registered office is 90a Dunsmure Road, London, N16 5JY.
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