Acorah Software Products - Accounts Production 15.0.600 false true 5 April 2023 6 April 2022 false 6 April 2023 5 April 2024 5 April 2024 03455540 Amardeep Jason Singh Claire Jagmail Singh Claire Rajinder Kaur Claire Sandeep Jagtar Singh Claire Jagmail Singh Claire iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03455540 2023-04-05 03455540 2024-04-05 03455540 2023-04-06 2024-04-05 03455540 frs-core:CurrentFinancialInstruments 2024-04-05 03455540 frs-core:ComputerEquipment 2024-04-05 03455540 frs-core:ComputerEquipment 2023-04-06 2024-04-05 03455540 frs-core:ComputerEquipment 2023-04-05 03455540 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-05 03455540 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-06 2024-04-05 03455540 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-05 03455540 frs-core:RevaluationReserve 2023-04-06 2024-04-05 03455540 frs-core:RevaluationReserve 2023-04-05 03455540 frs-core:RevaluationReserve 2024-04-05 03455540 frs-core:ShareCapital 2024-04-05 03455540 frs-core:RetainedEarningsAccumulatedLosses 2024-04-05 03455540 frs-bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 03455540 frs-bus:FilletedAccounts 2023-04-06 2024-04-05 03455540 frs-bus:SmallEntities 2023-04-06 2024-04-05 03455540 frs-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 03455540 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 03455540 frs-core:UnlistedNon-exchangeTraded 2024-04-05 03455540 frs-core:UnlistedNon-exchangeTraded 2023-04-05 03455540 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-04-05 03455540 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-04-05 03455540 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-04-05 03455540 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-04-05 03455540 frs-bus:Director1 2023-04-06 2024-04-05 03455540 frs-bus:Director2 2023-04-06 2024-04-05 03455540 frs-bus:Director3 2023-04-06 2024-04-05 03455540 frs-bus:Director4 2023-04-06 2024-04-05 03455540 frs-bus:CompanySecretary1 2023-04-06 2024-04-05 03455540 frs-countries:EnglandWales 2023-04-06 2024-04-05 03455540 2022-04-05 03455540 2023-04-05 03455540 2022-04-06 2023-04-05 03455540 frs-core:CurrentFinancialInstruments 2023-04-05 03455540 frs-core:RevaluationReserve 2023-04-05 03455540 frs-core:ShareCapital 2023-04-05 03455540 frs-core:RetainedEarningsAccumulatedLosses 2023-04-05
Registered number: 03455540
J.S.C. Estate Limited
Unaudited Financial Statements
For The Year Ended 5 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03455540
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,435,344 2,887,192
Investments 5 328 328
2,435,672 2,887,520
CURRENT ASSETS
Debtors 6 5,867 3,370
Cash at bank and in hand 289,413 237,981
295,280 241,351
Creditors: Amounts Falling Due Within One Year 7 (319,968 ) (589,085 )
NET CURRENT ASSETS (LIABILITIES) (24,688 ) (347,734 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,410,984 2,539,786
PROVISIONS FOR LIABILITIES
Deferred Taxation (115,552 ) (139,061 )
NET ASSETS 2,295,432 2,400,725
CAPITAL AND RESERVES
Called up share capital 8 240,000 240,000
Revaluation reserve 9 283,699 505,377
Profit and Loss Account 1,771,733 1,655,348
SHAREHOLDERS' FUNDS 2,295,432 2,400,725
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Page 2
For the year ending 5 April 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
Jagmail Singh Claire
Director
12 June 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
J.S.C. Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03455540 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
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
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
Interest income
Revenue is recognised as interest accrues using the effective interest method.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. No depreciation is provided in the year of acquisition. 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:
Computer Equipment 33% on WDV basis
2.4. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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: 4 (2023: 4)
4 4
4. Tangible Assets
Investment Properties Computer Equipment Total
£ £ £
Cost or Valuation
As at 6 April 2023 2,886,678 1,361 2,888,039
Disposals (230,000 ) - (230,000 )
Revaluation (221,678) - (221,678 )
As at 5 April 2024 2,435,000 1,361 2,436,361
Depreciation
As at 6 April 2023 - 847 847
Provided during the period - 170 170
As at 5 April 2024 - 1,017 1,017
Net Book Value
As at 5 April 2024 2,435,000 344 2,435,344
As at 6 April 2023 2,886,678 514 2,887,192
The investment properties are valued, at balance sheet date, by directors of the company based on the assessment of available market information and property condition. The directors believe that their valuation would not be materially different from the professional valuation.
5. Investments
Unlisted
£
Cost
As at 6 April 2023 328
As at 5 April 2024 328
Provision
As at 6 April 2023 -
As at 5 April 2024 -
Net Book Value
As at 5 April 2024 328
As at 6 April 2023 328
Investment includes shares in the below mentioned company:
J S C Estates Limited, Inc
Nature of business: Real Estate
                                                 %
Class of shares:                      holding
Ordinary $1                             60.00
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,649 162
Prepayments and accrued income 3,218 3,208
5,867 3,370
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,053 4,857
Other loans 27,609 57,609
Corporation tax 54,056 37,310
Other taxes and social security 1,031 788
VAT 12,786 14,282
Tenant Deposits Held 31,300 38,306
Accruals and deferred income 12,443 9,566
Directors' loan accounts 178,690 426,367
319,968 589,085
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 240,000 240,000
9. Reserves
Revaluation Reserve
£
As at 6 April 2023 505,377
Revaluation Reserve (221,678 )
As at 5 April 2024 283,699
10. Related Party Transactions
Included in creditors due within one year is an amount of £178,690 (2023: £426,367) that is owed to the directors of the company. The amount is interest free and repayable on demand.
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