Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 01780361 Mr Lefkos Kyriacou Mrs Maria Kyriacou iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01780361 2022-12-31 01780361 2023-12-31 01780361 2023-01-01 2023-12-31 01780361 frs-core:CurrentFinancialInstruments 2023-12-31 01780361 frs-core:Non-currentFinancialInstruments 2023-12-31 01780361 frs-core:ComputerEquipment 2023-01-01 2023-12-31 01780361 frs-core:FurnitureFittings 2023-12-31 01780361 frs-core:FurnitureFittings 2023-01-01 2023-12-31 01780361 frs-core:FurnitureFittings 2022-12-31 01780361 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 01780361 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01780361 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 01780361 frs-core:ShareCapital 2023-12-31 01780361 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01780361 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01780361 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 01780361 frs-bus:SmallEntities 2023-01-01 2023-12-31 01780361 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01780361 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01780361 frs-bus:Director1 2023-01-01 2023-12-31 01780361 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 01780361 frs-core:CurrentFinancialInstruments 2 2023-12-31 01780361 frs-countries:EnglandWales 2023-01-01 2023-12-31 01780361 2021-12-31 01780361 2022-12-31 01780361 2022-01-01 2022-12-31 01780361 frs-core:CurrentFinancialInstruments 2022-12-31 01780361 frs-core:Non-currentFinancialInstruments 2022-12-31 01780361 frs-core:ShareCapital 2022-12-31 01780361 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 01780361 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 01780361
K. Antiques And Fine Arts Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
TaxAssist Accountants Swiss Cottage
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 01780361
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,419,659 1,418,141
1,419,659 1,418,141
CURRENT ASSETS
Cash at bank and in hand 42,068 29,157
42,068 29,157
Creditors: Amounts Falling Due Within One Year 5 (1,387,665 ) (1,402,775 )
NET CURRENT ASSETS (LIABILITIES) (1,345,597 ) (1,373,618 )
TOTAL ASSETS LESS CURRENT LIABILITIES 74,062 44,523
Creditors: Amounts Falling Due After More Than One Year 6 (46,192 ) (54,580 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,166 ) -
NET ASSETS/(LIABILITIES) 6,704 (10,057 )
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 5,704 (11,057 )
SHAREHOLDERS' FUNDS 6,704 (10,057)
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Lefkos Kyriacou
Director
19/09/2024
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
K. Antiques And Fine Arts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01780361 . The registered office is Taxassist Accountants, 1 Rosemont Road, London, NW3 6NG.
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 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.
2.3. 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:
Freehold 0%
Fixtures & Fittings 20% on Cost
Computer Equipment 20% on Cost
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: 2 (2022: 1)
2 1
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Page 4
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 January 2023 1,417,163 31,374 1,448,537
Additions - 2,582 2,582
As at 31 December 2023 1,417,163 33,956 1,451,119
Depreciation
As at 1 January 2023 - 30,396 30,396
Provided during the period - 1,064 1,064
As at 31 December 2023 - 31,460 31,460
Net Book Value
As at 31 December 2023 1,417,163 2,496 1,419,659
As at 1 January 2023 1,417,163 978 1,418,141
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 8,518 9,933
Other creditors - Rent Deposit accepted 13,574 11,455
NatWest Loan < 1 year 5,053 -
Accruals and deferred income 14,323 -
Director's loan account 1,346,197 1,381,387
1,387,665 1,402,775
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
NatWest loan > 1 year 46,192 54,580
46,192 54,580
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4