Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04260350 Mrs Christine Deborah Moreland Mrs Eleanor Danielle Parsons Mr Michael Dennis Ewer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04260350 2023-03-31 04260350 2024-03-31 04260350 2023-04-01 2024-03-31 04260350 frs-core:CurrentFinancialInstruments 2024-03-31 04260350 frs-core:Non-currentFinancialInstruments 2024-03-31 04260350 frs-core:BetweenOneFiveYears 2024-03-31 04260350 frs-core:ComputerEquipment 2024-03-31 04260350 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04260350 frs-core:ComputerEquipment 2023-03-31 04260350 frs-core:MotorVehicles 2024-03-31 04260350 frs-core:MotorVehicles 2023-04-01 2024-03-31 04260350 frs-core:MotorVehicles 2023-03-31 04260350 frs-core:WithinOneYear 2024-03-31 04260350 frs-core:ShareCapital 2024-03-31 04260350 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04260350 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04260350 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04260350 frs-bus:SmallEntities 2023-04-01 2024-03-31 04260350 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04260350 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04260350 frs-core:UnlistedNon-exchangeTraded 2024-03-31 04260350 frs-core:UnlistedNon-exchangeTraded 2023-03-31 04260350 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 04260350 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 04260350 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 04260350 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 04260350 frs-bus:Director1 2023-04-01 2024-03-31 04260350 frs-bus:Director2 2023-04-01 2024-03-31 04260350 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04260350 frs-countries:EnglandWales 2023-04-01 2024-03-31 04260350 2022-03-31 04260350 2023-03-31 04260350 2022-04-01 2023-03-31 04260350 frs-core:CurrentFinancialInstruments 2023-03-31 04260350 frs-core:Non-currentFinancialInstruments 2023-03-31 04260350 frs-core:BetweenOneFiveYears 2023-03-31 04260350 frs-core:WithinOneYear 2023-03-31 04260350 frs-core:ShareCapital 2023-03-31 04260350 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04260350
Moreland Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Accounts and Tax Management Limited
Chartered Certified Accountants
Sun House
6 Tom Brown Street
Rugby
Warwickshire
CV21 3JT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04260350
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,262 49,078
Investments 5 550 550
39,812 49,628
CURRENT ASSETS
Stocks 6 5,021,979 5,228,725
Debtors 7 55,756 23,263
Cash at bank and in hand 215,483 188,376
5,293,218 5,440,364
Creditors: Amounts Falling Due Within One Year 8 (2,398,932 ) (2,440,715 )
NET CURRENT ASSETS (LIABILITIES) 2,894,286 2,999,649
TOTAL ASSETS LESS CURRENT LIABILITIES 2,934,098 3,049,277
Creditors: Amounts Falling Due After More Than One Year 9 (1,282,018 ) (1,367,320 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,815 ) (12,269 )
NET ASSETS 1,642,265 1,669,688
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 1,642,263 1,669,686
SHAREHOLDERS' FUNDS 1,642,265 1,669,688
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For the year ending 31 March 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
Mrs Christine Deborah Moreland
Director
03/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Moreland Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04260350 . The registered office is Unit 12 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ.
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
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:
Motor Vehicles 20% on Reducing balance
Computer Equipment 20% on Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
2.6. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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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 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: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 77,135 667 77,802
As at 31 March 2024 77,135 667 77,802
Depreciation
As at 1 April 2023 28,591 133 28,724
Provided during the period 9,709 107 9,816
As at 31 March 2024 38,300 240 38,540
Net Book Value
As at 31 March 2024 38,835 427 39,262
As at 1 April 2023 48,544 534 49,078
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Page 5
5. Investments
Unlisted
£
Cost
As at 1 April 2023 550
As at 31 March 2024 550
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 550
As at 1 April 2023 550
Investments in subsidiaries are measured at cost less accumulated impairment.
6. Stocks
2024 2023
£ £
Work in progress 5,021,979 5,228,725
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,168 22,812
Prepayments and accrued income 21,588 451
55,756 23,263
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,846 5,843
Trade creditors 21,055 -
Corporation tax 2,313 73,180
Other taxes and social security 96 280
VAT 25,571 32,725
Other creditors 522,568 504,022
Accruals and deferred income 64,602 67,784
Amounts owed to group undertakings 1,756,881 1,756,881
2,398,932 2,440,715
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,609 34,968
Bank loans 1,193,000 1,300,272
Other creditors 59,409 32,080
1,282,018 1,367,320
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,846 5,843
Later than one year and not later than five years 29,609 34,968
35,455 40,811
35,455 40,811
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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