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 SC465767 Mr Sunil Sharma Mr Jasbir Singh Gill Mr Michael Quigley Mr Makhan Singh Mr Makhan Singh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC465767 2022-12-31 SC465767 2023-12-31 SC465767 2023-01-01 2023-12-31 SC465767 frs-core:Non-currentFinancialInstruments 2023-12-31 SC465767 frs-core:FurnitureFittings 2023-01-01 2023-12-31 SC465767 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC465767 frs-core:ShareCapital 2023-12-31 SC465767 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC465767 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC465767 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 SC465767 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC465767 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC465767 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC465767 frs-bus:Director1 2023-01-01 2023-12-31 SC465767 frs-bus:Director2 2023-01-01 2023-12-31 SC465767 frs-bus:Director3 2023-01-01 2023-12-31 SC465767 frs-bus:Director4 2023-01-01 2023-12-31 SC465767 frs-bus:Director5 2023-01-01 2023-12-31 SC465767 frs-countries:Scotland 2023-01-01 2023-12-31 SC465767 2021-12-31 SC465767 2022-12-31 SC465767 2022-01-01 2022-12-31 SC465767 frs-core:Non-currentFinancialInstruments 2022-12-31 SC465767 frs-core:ShareCapital 2022-12-31 SC465767 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC465767
Diva Property Investments Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Ballantyne & Co
Chartered Accountants & Registered Auditors
60 St. Enoch Square
Glasgow
G1 4AG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: SC465767
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,958,322 1,218,280
1,958,322 1,218,280
CURRENT ASSETS
Debtors 45,944 5,000
Cash at bank and in hand 30,242 563,151
76,186 568,151
Creditors: Amounts Falling Due Within One Year (94,460 ) (134,106 )
NET CURRENT ASSETS (LIABILITIES) (18,274 ) 434,045
TOTAL ASSETS LESS CURRENT LIABILITIES 1,940,048 1,652,325
Creditors: Amounts Falling Due After More Than One Year (1,688,500 ) (1,382,478 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,908 ) (15,908 )
NET ASSETS 235,640 253,939
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 235,540 253,839
SHAREHOLDERS' FUNDS 235,640 253,939
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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Sunil Sharma
Director
23 September 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Diva Property Investments Limited is a private company, limited by shares, incorporated in Scotland, registered number SC465767 . The registered office is 60 St. Enoch Square, Glasgow, Lanarkshire, G1 4AG.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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
Fixed assets include investment properties which are stated at cost plus acquisition expenses. No open market valuation has been made nor provided for as this, in the opinion of the directors, would involve expense out of proportion to its value to the shareholders. This is a departure from SSAP 19, accounting for investment properties.
The directors, however, consider the open market value to be not less than that carried in the accounts and, therefore, that this policy is not detrimental to the users of these accounts. In accordance with SSAP 19, no depreciation is provided in respect of the company's freehold investment properties. This is a departure from the requirements of the Companies Act 2006, that all properties should be depreciated. In the opinion of the director, this departure is necessary for the financial statements to show a true and fair view in accordance with applicable accounting standards.
Freehold No depreciation
Fixtures & Fittings 20% RB
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 year 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 asset reflects 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: NIL (2022: NIL)
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4. Tangible Assets
Total
£
Cost
As at 1 January 2023 1,218,280
Additions 886,180
Disposals (145,000 )
As at 31 December 2023 1,959,460
Depreciation
As at 1 January 2023 -
Provided during the period 1,138
As at 31 December 2023 1,138
Net Book Value
As at 31 December 2023 1,958,322
As at 1 January 2023 1,218,280
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4