Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 13115395 Mr Bartosz Tomaszewski iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13115395 2022-12-31 13115395 2023-12-31 13115395 2023-01-01 2023-12-31 13115395 frs-core:CurrentFinancialInstruments 2023-12-31 13115395 frs-core:Non-currentFinancialInstruments 2023-12-31 13115395 frs-core:ShareCapital 2023-12-31 13115395 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13115395 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13115395 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13115395 frs-bus:SmallEntities 2023-01-01 2023-12-31 13115395 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13115395 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13115395 frs-bus:Director1 2023-01-01 2023-12-31 13115395 frs-core:Non-currentFinancialInstruments 1 2023-12-31 13115395 frs-countries:EnglandWales 2023-01-01 2023-12-31 13115395 2021-12-31 13115395 2022-12-31 13115395 2022-01-01 2022-12-31 13115395 frs-core:CurrentFinancialInstruments 2022-12-31 13115395 frs-core:Non-currentFinancialInstruments 2022-12-31 13115395 frs-core:ShareCapital 2022-12-31 13115395 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 13115395 frs-core:Non-currentFinancialInstruments 1 2022-12-31
Registered number: 13115395
Elmerside First Estates Ltd
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—4
Page 1
Balance Sheet
Registered number: 13115395
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 690,000 589,784
690,000 589,784
CURRENT ASSETS
Debtors 5 3,793 5,086
Cash at bank and in hand 1,516 2,970
5,309 8,056
Creditors: Amounts Falling Due Within One Year 6 (2,303 ) (1,865 )
NET CURRENT ASSETS (LIABILITIES) 3,006 6,191
TOTAL ASSETS LESS CURRENT LIABILITIES 693,006 595,975
Creditors: Amounts Falling Due After More Than One Year 7 (542,375 ) (572,262 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,054 ) -
NET ASSETS 125,577 23,713
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 125,574 23,710
SHAREHOLDERS' FUNDS 125,577 23,713
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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
18/02/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Elmerside First Estates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13115395 . The registered office is 90a Dunsmure Road, London, N16 5JY.
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. Going Concern Disclosure
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. 
2.3. Turnover
Rental income represents rents receivable on properties within the UK. Rents are receivable on a monthly basis. Where payments are receivable from tenants for months ending after the balance sheet date, the relevant, material proportion of rent receivable is recorded as deferred income and included in creditors. 
2.4. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
2.5. 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
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4. Investment Property
2023
£
Fair Value
As at 1 January 2023 589,784
Revaluations 100,216
As at 31 December 2023 690,000
The company’s investment property is valued at the year end by the board of directors at open market value taking account of rental yield in conjunction with professional valuers. Any surplus/deficit is recognised in the profit and loss account.
5. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 3,793 5,086
3,793 5,086
6. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Corporation tax 1,753 1,315
Accruals and deferred income 550 550
2,303 1,865
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
as restated
£ £
Bank loans 552,852 552,852
Intra-group loan (10,490 ) 19,410
Directors loan account 13 -
542,375 572,262
The bank loan is secured by a fixed charge over the property together with all buildings, fixtures and fixed plant and machinery at any time. 
8. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 3 3
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