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 10098054 Mr J K Alderton Miss V Wnuk Mr J K Alderton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10098054 2023-03-31 10098054 2024-03-31 10098054 2023-04-01 2024-03-31 10098054 frs-core:CurrentFinancialInstruments 2024-03-31 10098054 frs-core:Non-currentFinancialInstruments 2024-03-31 10098054 frs-core:ShareCapital 2024-03-31 10098054 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10098054 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10098054 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10098054 frs-bus:SmallEntities 2023-04-01 2024-03-31 10098054 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10098054 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10098054 frs-bus:Director1 2023-04-01 2024-03-31 10098054 frs-bus:Director2 2023-04-01 2024-03-31 10098054 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 10098054 frs-countries:EnglandWales 2023-04-01 2024-03-31 10098054 2022-03-31 10098054 2023-03-31 10098054 2022-04-01 2023-03-31 10098054 frs-core:CurrentFinancialInstruments 2023-03-31 10098054 frs-core:Non-currentFinancialInstruments 2023-03-31 10098054 frs-core:ShareCapital 2023-03-31 10098054 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10098054
UKAE Property Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10098054
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 325,000 310,000
325,000 310,000
CURRENT ASSETS
Debtors 5 61,615 60,432
Cash at bank and in hand - 10,000
61,615 70,432
Creditors: Amounts Falling Due Within One Year 6 (79,291 ) (39,175 )
NET CURRENT ASSETS (LIABILITIES) (17,676 ) 31,257
TOTAL ASSETS LESS CURRENT LIABILITIES 307,324 341,257
Creditors: Amounts Falling Due After More Than One Year 7 (270,990 ) (279,066 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,455 ) (9,202 )
NET ASSETS 25,879 52,989
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 25,877 52,987
SHAREHOLDERS' FUNDS 25,879 52,989
Page 1
Page 2
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
Mr J K Alderton
Director
9 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
UKAE Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10098054 . The registered office is Unit 31c Kestrel Business Centre Private Road 2, Colwick Industrial Estate, Nottingham, NG4 2JR.
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. 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.
2.4. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Investment Property
2024
£
Fair Value
As at 1 April 2023 310,000
Revaluations 15,000
As at 31 March 2024 325,000
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are
recognised in profit or loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of
investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair
value will be reliably measurable on an on-going basis.
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 115 102
Other debtors 61,500 60,330
61,615 60,432
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 504 -
Bank loans and overdrafts 10,094 11,465
Other creditors 68,693 27,710
79,291 39,175
Included in bank loans and overdrafts are secured mortgage loans of £3,902 (2023: £5,228), of which repayments wholly fall due within one year.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 270,990 279,066
Included in bank loans and overdrafts are secured mortgage loans of £15,608 (2023: £20,911), of which repayments wholly fall due after more than one year and within five years.
Included in bank loans and overdrafts are secured mortgage loans of £219,672 (2023: £216,791), of which repayments wholly fall due after more than five years.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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