Acorah Software Products - Accounts Production 15.0.600 false true 5 April 2023 6 April 2022 false 6 April 2023 5 April 2024 5 April 2024 04026661 Mrs P J Aldous Mr J F Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04026661 2023-04-05 04026661 2024-04-05 04026661 2023-04-06 2024-04-05 04026661 frs-core:CurrentFinancialInstruments 2024-04-05 04026661 frs-core:ShareCapital 2024-04-05 04026661 frs-core:RetainedEarningsAccumulatedLosses 2024-04-05 04026661 frs-bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 04026661 frs-bus:FilletedAccounts 2023-04-06 2024-04-05 04026661 frs-bus:SmallEntities 2023-04-06 2024-04-05 04026661 frs-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 04026661 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 04026661 frs-bus:Director1 2023-04-06 2024-04-05 04026661 frs-bus:Director2 2023-04-06 2024-04-05 04026661 frs-core:CurrentFinancialInstruments 9 2024-04-05 04026661 frs-countries:EnglandWales 2023-04-06 2024-04-05 04026661 2022-04-05 04026661 2023-04-05 04026661 2022-04-06 2023-04-05 04026661 frs-core:CurrentFinancialInstruments 2023-04-05 04026661 frs-core:ShareCapital 2023-04-05 04026661 frs-core:RetainedEarningsAccumulatedLosses 2023-04-05 04026661 frs-core:CurrentFinancialInstruments 9 2023-04-05
Registered number: 04026661
Penny Stones Limited
Unaudited Financial Statements
For The Year Ended 5 April 2024
Cornfield Accountants Limited
Chartered Accountants
5 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04026661
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 122,172 107,000
122,172 107,000
CURRENT ASSETS
Debtors 5 2,709 2,500
Cash at bank and in hand 52,794 43,823
55,503 46,323
Creditors: Amounts Falling Due Within One Year 6 (47,803 ) (46,846 )
NET CURRENT ASSETS (LIABILITIES) 7,700 (523 )
TOTAL ASSETS LESS CURRENT LIABILITIES 129,872 106,477
NET ASSETS 129,872 106,477
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 129,772 106,377
SHAREHOLDERS' FUNDS 129,872 106,477
Page 1
Page 2
For the year ending 5 April 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.
The financial statements were approved by the board of directors on 24 September 2024 and were signed on its behalf by:
Mrs P J Aldous
Director
24/09/2024
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
Penny Stones Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04026661 . The registered office is 5 Cornfield Terrace, Eastbourne, East Sussex, BN21 4NN.
The presentation currency of the financial statements is the Pound Sterling (£).  
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Significant judgements and estimations
No significant judgements have had to be made by the directors in preparing these financial statements.
The directors have made key assumptions in the determination of the fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of reasonable fair value estimates of the assets.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts, rebates and value added taxes.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
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 as follows: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 6 April 2023 107,000
Revaluations 15,172
As at 5 April 2024 122,172
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 237,539 237,539
The investment property was revalued at the year end by the directors. The directors feel this represents fair value.
If the property was sold for its fair value then an estimated tax charge of £nil (2023 - £nil) would arise.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 500 500
Prepayments 2,000 2,000
VAT 209 -
2,709 2,500
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,435 -
Corporation tax 2,179 2,005
VAT - 653
Other creditors 7,502 7,502
Accruals and deferred income 1,150 1,149
Amounts owed to parent undertaking 35,537 35,537
47,803 46,846
7. Related Party Transactions
Van-Dare Properties Limited and Ardnusbridge Investments Limited both own 50% of the share capital of the company.
Included in creditors is an amount owed to Van-Dare Properties Limited of £32,520 (2023 - £32,520).
Also, included in creditors is an amount owed to Ardnusbridge Investments Limited of £3,017 (2023 - £3,017).
Page 5