Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 13537965 Mr D Hill Dr H G Parsons iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13537965 2023-03-31 13537965 2024-03-31 13537965 2023-04-01 2024-03-31 13537965 frs-core:CurrentFinancialInstruments 2024-03-31 13537965 frs-core:Non-currentFinancialInstruments 2024-03-31 13537965 frs-core:ShareCapital 2024-03-31 13537965 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 13537965 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13537965 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 13537965 frs-bus:SmallEntities 2023-04-01 2024-03-31 13537965 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13537965 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13537965 frs-bus:Director1 2023-04-01 2024-03-31 13537965 frs-bus:Director2 2023-04-01 2024-03-31 13537965 frs-countries:EnglandWales 2023-04-01 2024-03-31 13537965 2022-03-31 13537965 2023-03-31 13537965 2022-04-01 2023-03-31 13537965 frs-core:CurrentFinancialInstruments 2023-03-31 13537965 frs-core:Non-currentFinancialInstruments 2023-03-31 13537965 frs-core:ShareCapital 2023-03-31 13537965 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 13537965
Hill & Parsons Property Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Agile Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13537965
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,050,112 1,050,112
1,050,112 1,050,112
CURRENT ASSETS
Debtors 5 11,544 9,825
Cash at bank and in hand 31,139 16,410
42,683 26,235
Creditors: Amounts Falling Due Within One Year 6 (359,785 ) (356,716 )
NET CURRENT ASSETS (LIABILITIES) (317,102 ) (330,481 )
TOTAL ASSETS LESS CURRENT LIABILITIES 733,010 719,631
Creditors: Amounts Falling Due After More Than One Year 7 (724,482 ) (724,482 )
NET ASSETS/(LIABILITIES) 8,528 (4,851 )
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account 8,328 (5,051 )
SHAREHOLDERS' FUNDS 8,528 (4,851)
Page 1
Page 2
For the year ending 31 March 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 D Hill
Director
13 September 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
Hill & Parsons Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13537965 . The registered office is 69 Beaumont Road, Birmingham, B30 2EB.
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
The directors believe that notwithstanding net current liabilities of £317,102, the company’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support from directors will be adequate to meet the company’s needs for a period of at least 12 months from the date of approval of these financial statements.
2.3. Turnover
Turnover is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from a contract to provide services is recognised in the period in which the services are provided.
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 arising on revaluation is recognised in profit or loss.
2.5. Financial Instruments
Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
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.
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.
Page 3
Page 4
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 April 2023 and 31 March 2024 1,050,112
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,759 1,251
Prepayments and accrued income 5,072 4,861
Other debtors 3,713 3,713
11,544 9,825
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 172
Corporation tax 2,179 -
Other creditors 357,606 356,544
359,785 356,716
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 724,482 724,482
8. Secured Creditors
Secured Creditors
Fixed charges were registered 18 March 2022 in favour of Kensington Mortgage Company Limited as security in connection with the associated property.

Fixed charges were registered 13 December 2022 in favour of The Mortgage Lender Limited as security in connection with the associated property.
The mortgage amounts repayable are included within bank loans due after 12 months.
2024 2023
£ £
Bank loans and overdrafts 724,482 724,482
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 4