Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11735661 V D Goldstein N J Goldstein iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11735661 2022-12-31 11735661 2023-12-31 11735661 2023-01-01 2023-12-31 11735661 frs-core:CurrentFinancialInstruments 2023-12-31 11735661 frs-core:Non-currentFinancialInstruments 2023-12-31 11735661 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 11735661 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 11735661 frs-core:SharePremium 2023-12-31 11735661 frs-core:ShareCapital 2023-12-31 11735661 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11735661 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11735661 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11735661 frs-bus:SmallEntities 2023-01-01 2023-12-31 11735661 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11735661 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11735661 frs-core:DeferredTaxation 2022-12-31 11735661 frs-core:DeferredTaxation 2023-12-31 11735661 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 11735661 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 11735661 frs-bus:Director1 2023-01-01 2023-12-31 11735661 frs-bus:Director2 2023-01-01 2023-12-31 11735661 frs-core:CurrentFinancialInstruments 1 2023-12-31 11735661 frs-core:CurrentFinancialInstruments 2 2023-12-31 11735661 frs-countries:EnglandWales 2023-01-01 2023-12-31 11735661 2021-12-31 11735661 2022-12-31 11735661 2022-01-01 2022-12-31 11735661 frs-core:CurrentFinancialInstruments 2022-12-31 11735661 frs-core:Non-currentFinancialInstruments 2022-12-31 11735661 frs-core:SharePremium 2022-12-31 11735661 frs-core:ShareCapital 2022-12-31 11735661 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11735661 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 11735661 frs-core:CurrentFinancialInstruments 1 2022-12-31 11735661 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 11735661
161 & 167 Upper Street Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11735661
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 5,725,000 5,725,000
5,725,000 5,725,000
CURRENT ASSETS
Debtors 4 15,124 11,133
Cash at bank and in hand 45,932 79,362
61,056 90,495
Creditors: Amounts Falling Due Within One Year 5 (305,328 ) (2,648,445 )
NET CURRENT ASSETS (LIABILITIES) (244,272 ) (2,557,950 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,480,728 3,167,050
Creditors: Amounts Falling Due After More Than One Year 6 (2,283,750 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (275,000 ) (275,000 )
NET ASSETS 2,921,978 2,892,050
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Share premium account 1,662,657 1,662,657
Fair Value Reserve 9 825,000 825,000
Profit and Loss Account 433,321 403,393
SHAREHOLDERS' FUNDS 2,921,978 2,892,050
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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.
The financial statements were approved by the board of directors on 26 September 2024 and were signed on its behalf by:
V D Goldstein
Director
26 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
The presentation currency of the financial statements is the Pound Sterling (£).
1.2. Going Concern Disclosure
The directors are closely monitoring the activities of the company and although there were net current liabilities of £315,945 at the balance sheet date, the directors have received confirmation from The V Fund Group Limited, its parent entity, that the Group will continue to support the operations of the company for the foreseeable future to allow it to be able to meet its own liabilities as they fall due.
On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is derived from the rental of the Investment Properties.
1.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
1.5. 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.
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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
2 2
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3. Tangible Assets
Investment Properties
£
Cost
As at 1 January 2023 5,725,000
As at 31 December 2023 5,725,000
Net Book Value
As at 31 December 2023 5,725,000
As at 1 January 2023 5,725,000
The investment properties were valued by the Directors at their fair value.
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,250 9,563
Prepayments and accrued income 1,881 -
Other debtors 1,993 1,570
15,124 11,133
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,230 2,333
Bank loans and overdrafts - 2,339,588
Corporation tax - 23,165
Other creditors 46,559 46,559
Accrual and deferred income 57,453 32,836
Accrued expenses 17,560 16,815
Directors' loan accounts 181,526 187,149
305,328 2,648,445
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 2,283,750 -
2,283,750 -
The bank loan is secured by the investment properties of the company.
The outstanding balance on the loan is repayable in full, with any accrued interest at the termination date.
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7. Provisions for Liabilities
Deferred Tax
£
As at 1 January 2023 275,000
Balance at 31 December 2023 275,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Reserves
Fair Value Reserve
£
As at 1 January 2023 825,000
As at 31 December 2023 825,000
10. Related Party Transactions
At the period end the company owed the Director, V Goldstein, £181,526 (2022: 187,149).
The ultimate controlling party is The V Fund Group Ltd, a company which is controlled by V Goldstein.
The immediate holding company is Vegen Investments Limited, a company which is controlled by V Goldstein.
11. General Information
161 & 167 Upper Street Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11735661 . The registered office is Butler House, 177-178 Tottenham Court Road, London, W1T 7AF.
The presentation currency of the financial statements is the Pound Sterling (£).
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