Acorah Software Products - Accounts Production 14.6.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 01994736 Mr C Vaughan-Junes Mrs j Putt Mrs M Brown Mr C Vaughan-Junes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01994736 2023-03-31 01994736 2024-03-31 01994736 2023-04-01 2024-03-31 01994736 frs-core:CurrentFinancialInstruments 2024-03-31 01994736 frs-core:ComputerEquipment 2024-03-31 01994736 frs-core:ComputerEquipment 2023-04-01 2024-03-31 01994736 frs-core:ComputerEquipment 2023-03-31 01994736 frs-core:FurnitureFittings 2024-03-31 01994736 frs-core:FurnitureFittings 2023-04-01 2024-03-31 01994736 frs-core:FurnitureFittings 2023-03-31 01994736 frs-core:OtherReservesSubtotal 2024-03-31 01994736 frs-core:SharePremium 2024-03-31 01994736 frs-core:ShareCapital 2024-03-31 01994736 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 01994736 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01994736 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 01994736 frs-bus:SmallEntities 2023-04-01 2024-03-31 01994736 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01994736 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01994736 frs-bus:Director1 2023-04-01 2024-03-31 01994736 frs-bus:Director2 2023-04-01 2024-03-31 01994736 frs-bus:Director3 2023-04-01 2024-03-31 01994736 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 01994736 frs-countries:EnglandWales 2023-04-01 2024-03-31 01994736 2022-03-31 01994736 2023-03-31 01994736 2022-04-01 2023-03-31 01994736 frs-core:CurrentFinancialInstruments 2023-03-31 01994736 frs-core:OtherReservesSubtotal 2023-03-31 01994736 frs-core:SharePremium 2023-03-31 01994736 frs-core:ShareCapital 2023-03-31 01994736 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 01994736
P.C. Tustin & Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Xerxes Associates LLP
Warnford Court
29 Throgmorton Street
London
EC2N 2AT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01994736
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,054 7,840
Investment Properties 5 4,800,077 4,800,077
4,807,131 4,807,917
CURRENT ASSETS
Debtors 6 44,710 44,271
Investments 7 382,081 338,229
Cash at bank and in hand 562,674 625,042
989,465 1,007,542
Creditors: Amounts Falling Due Within One Year 8 (130,096 ) (146,658 )
NET CURRENT ASSETS (LIABILITIES) 859,369 860,884
TOTAL ASSETS LESS CURRENT LIABILITIES 5,666,500 5,668,801
PROVISIONS FOR LIABILITIES
Deferred Taxation (834,092 ) (834,092 )
NET ASSETS 4,832,408 4,834,709
CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Share premium account 763,228 763,228
Other reserves 3,357,640 3,357,640
Profit and Loss Account 706,540 708,841
SHAREHOLDERS' FUNDS 4,832,408 4,834,709
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 C Vaughan-Junes
Director
12/09/2024
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
P.C. Tustin & Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01994736 . The registered office is 82 St. John Street, London, EC1M 4JN.
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. 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:
Fixtures & Fittings 10% on cost
Computer Equipment 33% on reducing balance
2.3. 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.
2.4. 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: 3 (2023: 3)
3 3
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 297,066 5,845 302,911
As at 31 March 2024 297,066 5,845 302,911
Depreciation
As at 1 April 2023 289,235 5,836 295,071
Provided during the period 783 3 786
As at 31 March 2024 290,018 5,839 295,857
Net Book Value
As at 31 March 2024 7,048 6 7,054
As at 1 April 2023 7,831 9 7,840
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 4,800,077
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 989,161 989,161
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 41,860 41,860
Other debtors 2,850 2,411
44,710 44,271
7. Current Asset Investments
2024 2023
£ £
Listed investments 382,081 338,229
The current asset investments which compromise listed stocks and shares are shown at market value at the balance sheet date.
The difference between the cost and the market value of the current asset investments at 31 March 2024 has been credited to the Profit and Loss account.
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 121,697 120,685
Taxation and social security 8,399 25,973
130,096 146,658
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
Page 5