Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 13230257 Mr C P Jones Mr H T Lawrenson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13230257 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-02-28 13230257 2023-02-28 13230257 2024-02-28 13230257 2023-03-01 2024-02-28 13230257 frs-core:CurrentFinancialInstruments 2024-02-28 13230257 frs-core:Non-currentFinancialInstruments 2024-02-28 13230257 frs-core:ShareCapital 2024-02-28 13230257 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 13230257 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13230257 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 13230257 frs-bus:SmallEntities 2023-03-01 2024-02-28 13230257 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13230257 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13230257 frs-bus:Director1 2023-03-01 2024-02-28 13230257 frs-bus:Director2 2023-03-01 2024-02-28 13230257 frs-countries:EnglandWales 2023-03-01 2024-02-28 13230257 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-02-28 13230257 2022-02-28 13230257 2023-02-28 13230257 2022-03-01 2023-02-28 13230257 frs-core:CurrentFinancialInstruments 2023-02-28 13230257 frs-core:Non-currentFinancialInstruments 2023-02-28 13230257 frs-core:ShareCapital 2023-02-28 13230257 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13230257
North Wales Eco Lodges Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13230257
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 449,240 -
449,240 -
CURRENT ASSETS
Debtors 5 585,821 100
Cash at bank and in hand 35,233 -
621,054 100
Creditors: Amounts Falling Due Within One Year 6 (436,680 ) -
NET CURRENT ASSETS (LIABILITIES) 184,374 100
TOTAL ASSETS LESS CURRENT LIABILITIES 633,614 100
Creditors: Amounts Falling Due After More Than One Year 7 (719,072 ) -
NET (LIABILITIES)/ASSETS (85,458 ) 100
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (85,558 ) -
SHAREHOLDERS' FUNDS (85,458) 100
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Page 2
For the year ending 28 February 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
Mr C P Jones
Director
11 September 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
North Wales Eco Lodges Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13230257 . The registered office is Land At 3 Pigeons Inn, Graigfechan, Ruthin, LL15 2EU.
2. Accounting Policies
2.1. 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'.
2.2. Going Concern Disclosure
The directors have 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. 
2.3. 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.
2.4. 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.
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 -
Additions 449,240
As at 28 February 2024 449,240
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
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2024 2023
£ £
Cost 179,408 -
The directors have valued the investment properties on an open market basis as at the reporting date, which they consider accurately reflects their fair value.
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 585,821 100
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Bank loans and overdrafts 30,928 -
Other creditors 404,853 -
Taxation and social security 900 -
436,680 -
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 719,072 -
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 595,361 -
8. Secured Creditors
Of the creditors the following amounts are secured.
The bank loan is secured by a fixed and floating charge dated 02/06/2023 over all the company's undertaking, property, rights and assets whatsoever and wheresoever both present and future.
2024 2023
£ £
Bank loans and overdrafts 750,000 -
9. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
10. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
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11. Related Party Transactions
The following related party transactions were undertaken during the year:
During the year a director introduced amounts totalling £137,446 (2023: £Nil). At the balance sheet date the amount payable to the director was £137,446 (2023: £Nil).
During the year a director introduced amounts totalling £100,946 (2023: £Nil). At the balance sheet date the amount payable to the director was £100,946 (2023: £Nil).
During the year a company under common control loaned the company amounts totalling £170,000 (2023: £Nil) and was repaid amounts totalling £75,000 (2023: £Nil). At the balance sheet date the amount payable to the company was £95,000 (2023: £Nil).
During the year a shareholder loaned the company amounts totalling £69,000 (2023: £Nil) and was repaid amounts totalling £Nil (2023: £Nil). At the balance sheet date the amount payable to the company was £69,000 (2023: £Nil).
No dividends were paid to the directors in respect of their shareholdings in the current or prior periods.
The aggregate remuneration paid to key management personnel for the year was £Nil (2023: £Nil).
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'.
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