Acorah Software Products - Accounts Production 14.6.300 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 06401959 Mr Gbenga Adekunle Mr Gbenga Adekunle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06401959 2022-10-31 06401959 2023-10-31 06401959 2022-11-01 2023-10-31 06401959 frs-core:CurrentFinancialInstruments 2023-10-31 06401959 frs-core:Non-currentFinancialInstruments 2023-10-31 06401959 frs-core:BetweenOneFiveYears 2023-10-31 06401959 frs-core:MotorVehicles 2023-10-31 06401959 frs-core:MotorVehicles 2022-11-01 2023-10-31 06401959 frs-core:MotorVehicles 2022-10-31 06401959 frs-core:PlantMachinery 2023-10-31 06401959 frs-core:PlantMachinery 2022-11-01 2023-10-31 06401959 frs-core:PlantMachinery 2022-10-31 06401959 frs-core:WithinOneYear 2023-10-31 06401959 frs-core:ShareCapital 2023-10-31 06401959 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 06401959 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 06401959 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 06401959 frs-bus:SmallEntities 2022-11-01 2023-10-31 06401959 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 06401959 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 06401959 frs-bus:Director1 2022-11-01 2023-10-31 06401959 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 06401959 frs-countries:EnglandWales 2022-11-01 2023-10-31 06401959 2021-10-31 06401959 2022-10-31 06401959 2021-11-01 2022-10-31 06401959 frs-core:CurrentFinancialInstruments 2022-10-31 06401959 frs-core:Non-currentFinancialInstruments 2022-10-31 06401959 frs-core:BetweenOneFiveYears 2022-10-31 06401959 frs-core:WithinOneYear 2022-10-31 06401959 frs-core:ShareCapital 2022-10-31 06401959 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 06401959
Angels Abode Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06401959
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,700 35,874
Investment Properties 5 61,152 61,152
108,852 97,026
CURRENT ASSETS
Debtors 6 1,476,147 1,058,515
Cash at bank and in hand 1,774 274,027
1,477,921 1,332,542
Creditors: Amounts Falling Due Within One Year 7 (77,079 ) (61,485 )
NET CURRENT ASSETS (LIABILITIES) 1,400,842 1,271,057
TOTAL ASSETS LESS CURRENT LIABILITIES 1,509,694 1,368,083
Creditors: Amounts Falling Due After More Than One Year 8 (4,121 ) (21,918 )
NET ASSETS 1,505,573 1,346,165
CAPITAL AND RESERVES
Called up share capital 10 100,000 100,000
Profit and Loss Account 1,405,573 1,246,165
SHAREHOLDERS' FUNDS 1,505,573 1,346,165
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Gbenga Adekunle
Director
11/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Angels Abode Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06401959 . The registered office is Unit 47, Thames Innovation Centre Veridon Park, 2 Veridon Way, Erith, Kent, DA18 4AL.
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:
Plant & Machinery 15% reducing balance method
Motor Vehicles 15% reducing balance method
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.
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2.5. 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.
2.6. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2022 - 73,867 73,867
Additions 10,000 10,000 20,000
As at 31 October 2023 10,000 83,867 93,867
Depreciation
As at 1 November 2022 - 37,993 37,993
Provided during the period 833 7,341 8,174
As at 31 October 2023 833 45,334 46,167
Net Book Value
As at 31 October 2023 9,167 38,533 47,700
As at 1 November 2022 - 35,874 35,874
5. Investment Property
2023
£
Fair Value
As at 1 November 2022 and 31 October 2023 61,152
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 439,992 391,342
Other debtors 1,036,155 667,173
1,476,147 1,058,515
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 6,131 6,131
Trade creditors 2 -
Bank loans and overdrafts 1,529 500
Other creditors 5,544 8,478
Taxation and social security 63,873 46,376
77,079 61,485
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,121 21,918
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,131 6,131
Later than one year and not later than five years 4,121 21,918
10,252 28,049
10,252 28,049
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100,000 100,000
11. Related Party Transactions
Included in other debtors is £512,185 (2022: £485,423) relates to GAD Homes Ltd, company under the control of the Director Mr G Adekunle. Interest @ 1.5% is charged on the balance.
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