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 03693486 Mrs J Swift Mr A J Swift Mrs J Swift iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03693486 2022-12-31 03693486 2023-12-31 03693486 2023-01-01 2023-12-31 03693486 frs-core:CurrentFinancialInstruments 2023-12-31 03693486 frs-core:NetGoodwill 2023-12-31 03693486 frs-core:NetGoodwill 2023-01-01 2023-12-31 03693486 frs-core:NetGoodwill 2022-12-31 03693486 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 03693486 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 03693486 frs-core:PlantMachinery 2023-12-31 03693486 frs-core:PlantMachinery 2023-01-01 2023-12-31 03693486 frs-core:PlantMachinery 2022-12-31 03693486 frs-core:ShareCapital 2023-12-31 03693486 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03693486 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03693486 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03693486 frs-bus:SmallEntities 2023-01-01 2023-12-31 03693486 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03693486 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03693486 frs-core:DeferredTaxation 2022-12-31 03693486 frs-core:DeferredTaxation 2023-12-31 03693486 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 03693486 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 03693486 frs-bus:Director1 2023-01-01 2023-12-31 03693486 frs-bus:Director2 2023-01-01 2023-12-31 03693486 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 03693486 2 2023-01-01 2023-12-31 03693486 frs-countries:EnglandWales 2023-01-01 2023-12-31 03693486 2021-12-31 03693486 2022-12-31 03693486 2022-01-01 2022-12-31 03693486 frs-core:CurrentFinancialInstruments 2022-12-31 03693486 frs-core:ShareCapital 2022-12-31 03693486 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 03693486 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31
Registered number: 03693486
ZZZ Building Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03693486
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 108,197 137,762
Tangible Assets 5 3,537,592 3,001,421
3,645,789 3,139,183
CURRENT ASSETS
Debtors 6 23,796 19,617
Cash at bank and in hand 347,381 688,129
371,177 707,746
Creditors: Amounts Falling Due Within One Year 7 (1,219,246 ) (1,205,491 )
NET CURRENT ASSETS (LIABILITIES) (848,069 ) (497,745 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,797,720 2,641,438
PROVISIONS FOR LIABILITIES
Deferred Taxation (121,869 ) (122,976 )
NET ASSETS 2,675,851 2,518,462
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair Value Reserve 10 640,730 640,730
Profit and Loss Account 2,035,021 1,877,632
SHAREHOLDERS' FUNDS 2,675,851 2,518,462
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
Mrs J Swift
Director
17 September 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
ZZZ Building Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03693486 . The registered office is 22 Grange Park, Maghull, Liverpool, Merseyside, L31 3DP.
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 represents net invoiced property income, excluding value added tax. Rental income is recognised on a straight line basis over the period of the lease.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. 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:
Plant & Machinery 25% straight line
2.5. 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 on revaluation is recognised in profit or loss.
2.6. 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: 2 (2022: 2)
2 2
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 295,647
As at 31 December 2023 295,647
Amortisation
As at 1 January 2023 157,885
Provided during the period 29,565
As at 31 December 2023 187,450
Net Book Value
As at 31 December 2023 108,197
As at 1 January 2023 137,762
5. Tangible Assets
Investment Properties Plant & Machinery Total
£ £ £
Cost
As at 1 January 2023 2,996,369 89,305 3,085,674
Additions 540,599 - 540,599
As at 31 December 2023 3,536,968 89,305 3,626,273
Depreciation
As at 1 January 2023 - 84,253 84,253
Provided during the period - 4,428 4,428
As at 31 December 2023 - 88,681 88,681
Net Book Value
As at 31 December 2023 3,536,968 624 3,537,592
As at 1 January 2023 2,996,369 5,052 3,001,421
Cost or valuation as at 31 December 2023 represented by:
Investment Properties Plant & Machinery Total
£ £ £
At cost 2,774,524 89,305 2,863,829
At valuation 762,444 - 762,444
3,536,968 89,305 3,626,273
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2023 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
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Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 13,681 10,934
Prepayments and accrued income 9,865 8,683
Other debtors 250 -
23,796 19,617
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 48,212 48,212
Corporation tax 55,716 47,194
Other creditors 600,000 600,000
Accruals and deferred income 17,429 12,196
Directors' loan accounts 497,889 497,889
1,219,246 1,205,491
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 122,976 122,976
Origination and reversal of timing differences (1,107 ) (1,107 )
Balance at 31 December 2023 121,869 121,869
The provision for deferred taxation is made up of accelerated capital allowances £155 (2022: £1,262) and revaluation of investment properties £121,714 (2022: £121,714).
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Fair Value Reserve
£
As at 1 January 2023 640,730
As at 31 December 2023 640,730
The fair value reserve represents the cumulative fair value gains and losses in respect to investment properties and their associated deferred tax.
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