Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08487881 Mr James Hood Mr Paraag Dave Mrs Sophie Doe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08487881 2022-12-31 08487881 2023-12-31 08487881 2023-01-01 2023-12-31 08487881 frs-core:CurrentFinancialInstruments 2023-12-31 08487881 frs-core:Non-currentFinancialInstruments 2023-12-31 08487881 frs-core:ComputerEquipment 2023-12-31 08487881 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08487881 frs-core:ComputerEquipment 2022-12-31 08487881 frs-core:FurnitureFittings 2023-12-31 08487881 frs-core:FurnitureFittings 2023-01-01 2023-12-31 08487881 frs-core:FurnitureFittings 2022-12-31 08487881 frs-core:SharePremium 2023-12-31 08487881 frs-core:ShareCapital 2023-12-31 08487881 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08487881 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08487881 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08487881 frs-bus:SmallEntities 2023-01-01 2023-12-31 08487881 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08487881 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08487881 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08487881 frs-bus:OrdinaryShareClass1 2023-12-31 08487881 frs-bus:Director1 2023-01-01 2023-12-31 08487881 frs-bus:Director2 2023-01-01 2023-12-31 08487881 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 08487881 frs-core:CurrentFinancialInstruments 4 2023-12-31 08487881 frs-core:Non-currentFinancialInstruments 5 2023-12-31 08487881 frs-core:Non-currentFinancialInstruments 7 2023-12-31 08487881 frs-countries:EnglandWales 2023-01-01 2023-12-31 08487881 2021-12-31 08487881 2022-12-31 08487881 2022-01-01 2022-12-31 08487881 frs-core:CurrentFinancialInstruments 2022-12-31 08487881 frs-core:Non-currentFinancialInstruments 2022-12-31 08487881 frs-core:SharePremium 2022-12-31 08487881 frs-core:ShareCapital 2022-12-31 08487881 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 08487881 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 08487881 frs-core:Non-currentFinancialInstruments 1 2022-12-31 08487881 frs-core:CurrentFinancialInstruments 3 2022-12-31 08487881 frs-core:Non-currentFinancialInstruments 3 2022-12-31 08487881 frs-core:CurrentFinancialInstruments 4 2022-12-31 08487881 frs-core:Non-currentFinancialInstruments 5 2022-12-31 08487881 frs-core:Non-currentFinancialInstruments 7 2022-12-31
Registered number: 08487881
Model Projects Limited
Financial Statements
For The Year Ended 31 December 2023
Foreshore Accountancy LLP
Chartered Accountants
Fairfield
Shotley Road, Chelmondiston
Ipswich
Suffolk
IP9 1EE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08487881
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,938 3,735
2,938 3,735
CURRENT ASSETS
Debtors 5 54,977 80,913
Cash at bank and in hand 182,612 50,879
237,589 131,792
Creditors: Amounts Falling Due Within One Year 6 (74,640 ) (77,719 )
NET CURRENT ASSETS (LIABILITIES) 162,949 54,073
TOTAL ASSETS LESS CURRENT LIABILITIES 165,887 57,808
Creditors: Amounts Falling Due After More Than One Year 7 (25,746 ) (105,129 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (130 ) (130 )
NET ASSETS/(LIABILITIES) 140,011 (47,451 )
CAPITAL AND RESERVES
Called up share capital 9 1,428 1,000
Share premium account 181,672 2,100
Profit and Loss Account (43,089 ) (50,551 )
SHAREHOLDERS' FUNDS 140,011 (47,451)
Page 1
Page 2
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 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 James Hood
Director
30 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
Model Projects Limited Registered number 08487881 is a limited by shares company incorporated in England & Wales. The Registered Office is 212 The Bon Marche Centre, 241-251 Ferndale Road, London, SW9 8BJ.
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
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% reducing balance
Computer Equipment 25% reducing balance / straight line over 4 years
2.4. 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.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
Sales, marketing and distribution 5 5
7 7
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 4,481 24,808 29,289
As at 31 December 2023 4,481 24,808 29,289
Depreciation
As at 1 January 2023 4,207 21,347 25,554
Provided during the period 17 780 797
As at 31 December 2023 4,224 22,127 26,351
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 257 2,681 2,938
As at 1 January 2023 274 3,461 3,735
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 52,118 78,697
Prepayments and accrued income 1,560 -
Other debtors 1,093 2,010
Other debtors (4) 206 206
54,977 80,913
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 22,147 10,507
Bank loans and overdrafts 3,792 5,023
Other taxes and social security 6,047 11,018
VAT 35,262 43,340
Pension creditor 736 704
Other creditors (3) - 257
Accruals and deferred income 1,450 1,200
Directors' loan accounts 5,206 5,670
74,640 77,719
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 24,167 34,167
Loan - Andrew Goodwin - (20,011 )
Loan - Bloc A - 91,434
Loan - Sheer Luxury Homes (LM) Limited (123 ) (123 )
Loan - Sheer Luxury Homes Limited 1,702 (338 )
25,746 105,129
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 130 130
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1,428 Ordinary Shares of £ 1 each 1,428 1,000
Page 4