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Registered number: 14031277
Ravenhurst Property Ltd
Unaudited Financial Statements
For the Period 27 April 2023 to 31 May 2024
Agile Accountants
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Ravenhurst Property Ltd For the Period 27 April 2023 to 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Ravenhurst Property Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Ravenhurst Property Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ravenhurst Property Ltd and state those matters that we have agreed to state to the directors of Ravenhurst Property Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ravenhurst Property Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Ravenhurst Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Ravenhurst Property Ltd . You consider that Ravenhurst Property Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Ravenhurst Property Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
13 September 2024
Agile Accountants
The Colmore Building
20 Colmore Circus Queensway
Birmingham
B4 6AT
Page 1
Page 2
Balance Sheet
Registered number: 14031277
31 May 2024 26 April 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 335,219 -
335,219 -
CURRENT ASSETS
Debtors 5 4,130 -
Cash at bank and in hand 176 2
4,306 2
Creditors: Amounts Falling Due Within One Year 6 (186,456 ) -
NET CURRENT ASSETS (LIABILITIES) (182,150 ) 2
TOTAL ASSETS LESS CURRENT LIABILITIES 153,069 2
Creditors: Amounts Falling Due After More Than One Year 7 (158,544 ) -
NET (LIABILITIES)/ASSETS (5,475 ) 2
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (5,477 ) -
SHAREHOLDERS' FUNDS (5,475) 2
Page 2
Page 3
For the period ending 31 May 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 S Mubarak
Director
12 September 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Ravenhurst Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14031277 . The registered office is 318 High Street High Street, Harborne, Birmingham, B17 9PU.
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 current year losses of £5,477 and net liabilities of £5,475, 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 the 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. 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.
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2.7. 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, during the period was: NIL (2023: NIL)
- -
4. Investment Property
31 May 2024
£
Fair Value
As at 27 April 2023 -
Additions 335,219
As at 31 May 2024 335,219
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
31 May 2024 26 April 2023
£ £
Cost 335,219 -
5. Debtors
31 May 2024 26 April 2023
£ £
Due within one year
Other debtors 4,130 -
6. Creditors: Amounts Falling Due Within One Year
31 May 2024 26 April 2023
£ £
Other creditors 186,456 -
7. Creditors: Amounts Falling Due After More Than One Year
31 May 2024 26 April 2023
£ £
Bank loans 158,544 -
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8. Secured Creditors
A fixed charged was registered on 28 July 2023 in favour of Nottingham Building Society over the investment property of the company. 
31 May 2024 26 April 2023
£ £
Bank loans and overdrafts 158,544 -
9. Share Capital
31 May 2024 26 April 2023
£ £
Allotted, Called up and fully paid 2 2
Page 6