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Registered number: 04876907
Cedar Grange Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Beever & Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr T Yilmaz
Company Number 04876907
Registered Office The Coach House
21a Chambres Road
Southport
Merseyside
PR8 6JG
Accountants Beever & Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
Page 1
Page 2
Balance Sheet
Registered number: 04876907
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 813,089 823,410
813,089 823,410
CURRENT ASSETS
Debtors 6 255,195 228,237
Cash at bank and in hand 11,627 2,355
266,822 230,592
Creditors: Amounts Falling Due Within One Year 7 (891,982 ) (752,556 )
NET CURRENT ASSETS (LIABILITIES) (625,160 ) (521,964 )
TOTAL ASSETS LESS CURRENT LIABILITIES 187,929 301,446
Creditors: Amounts Falling Due After More Than One Year 8 (530 ) (7,484 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (8,562 ) (6,591 )
NET ASSETS 178,837 287,371
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 106,491 109,153
Profit and Loss Account 72,246 178,118
SHAREHOLDERS' FUNDS 178,837 287,371
Page 2
Page 3
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.
The financial statements were approved by the board of directors and authorised for issue on 3 October 2024 and were signed on its behalf by:
Mr T Yilmaz
Director
3 October 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Cedar Grange Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04876907 . The registered office is The Coach House , 21a Chambres Road, Southport, Merseyside, PR8 6JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the balance sheet date the company had net current liabilities. The company is dependent on the support of its directors, who have confirmed they will continue to provide such support. Therefore the directors feel it appropriate to prepare the financial statements on the going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered , net of discounts and value added taxes.
Turnover is recognised from the rendering of services by reference to the completion of obligations under open ended care contracts; the turnover is recognised on a time appotioned basis; it can be measured reliably; it is probable that the assoicated benefit will flow to the entity; and the costs incurred or to be incurred in the respect of the transaction can be measured reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any 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:
Freehold 2% Straight line
Plant & Machinery 20% Straight line
The gain or loss on disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charges to profit or loss.
2.6. 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.
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2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured attransaction price including transaction costs and are subsequently carried at amortised cost using theeffective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
2.8. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 41 (2023: 40)
41 40
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 45,000
As at 31 March 2024 45,000
Amortisation
As at 1 April 2023 45,000
As at 31 March 2024 45,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost or Valuation
As at 1 April 2023 951,151 230,641 1,181,792
Additions - 23,376 23,376
As at 31 March 2024 951,151 254,017 1,205,168
Depreciation
As at 1 April 2023 156,250 202,132 358,382
Provided during the period 19,024 14,673 33,697
As at 31 March 2024 175,274 216,805 392,079
Net Book Value
As at 31 March 2024 775,877 37,212 813,089
As at 1 April 2023 794,901 28,509 823,410
During the year the directors considered there to be no significant change in the market value of the freehold property.
Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £678,188 (2023 - £692,543), being cost £884,424 (2023 - £884,424) and depreciation £206,236 (2023 - £191,881).
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 79,107 11,294
Other debtors 176,088 216,943
255,195 228,237
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,954 3,370
Trade creditors 20,601 20,976
Other creditors 848,591 686,096
Taxation and social security 15,836 42,114
891,982 752,556
The aggregate amount of creditors for which security has been given amounted to £6,954 (2023 - £3,370).
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 530 7,484
The aggregate amount of creditors due after one year for which security has been given amounted to £550 (2023 - £7,484).
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 8,863 6,591
Other timing differences (301) -
8,562 6,591
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
11. Reserves
Revaluation Reserve
£
As at 1 April 2023 109,153
Transfer to profit and loss (2,662 )
As at 31 March 2024 106,491
Page 7