Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 4 October 2021 false 1 November 2022 31 October 2023 31 October 2023 SC711186 Mr Eugene Callaghan Mr Kevin Callaghan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC711186 2022-10-31 SC711186 2023-10-31 SC711186 2022-11-01 2023-10-31 SC711186 frs-core:CurrentFinancialInstruments 2023-10-31 SC711186 frs-core:Non-currentFinancialInstruments 2023-10-31 SC711186 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 SC711186 frs-core:InvestmentPropertyIncludedWithinPPE 2022-10-31 SC711186 frs-core:ShareCapital 2023-10-31 SC711186 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC711186 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC711186 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 SC711186 frs-bus:SmallEntities 2022-11-01 2023-10-31 SC711186 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC711186 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC711186 frs-bus:Director1 2022-11-01 2023-10-31 SC711186 frs-bus:Director2 2022-11-01 2023-10-31 SC711186 frs-core:Non-currentFinancialInstruments 1 2023-10-31 SC711186 frs-countries:Scotland 2022-11-01 2023-10-31 SC711186 2021-10-03 SC711186 2022-10-31 SC711186 2021-10-04 2022-10-31 SC711186 frs-core:CurrentFinancialInstruments 2022-10-31 SC711186 frs-core:Non-currentFinancialInstruments 2022-10-31 SC711186 frs-core:ShareCapital 2022-10-31 SC711186 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 SC711186 frs-core:Non-currentFinancialInstruments 1 2022-10-31
Registered number: SC711186
Empire Properties (scotland) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC711186
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 198,787 193,775
198,787 193,775
CURRENT ASSETS
Cash at bank and in hand 362 181
362 181
Creditors: Amounts Falling Due Within One Year 5 (111,245 ) (110,660 )
NET CURRENT ASSETS (LIABILITIES) (110,883 ) (110,479 )
TOTAL ASSETS LESS CURRENT LIABILITIES 87,904 83,296
Creditors: Amounts Falling Due After More Than One Year 6 (89,608 ) (84,551 )
NET LIABILITIES (1,704 ) (1,255 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (1,706 ) (1,257 )
SHAREHOLDERS' FUNDS (1,704) (1,255)
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Page 2
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 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 Kevin Callaghan
Director
08/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Empire Properties (scotland) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC711186 . The registered office is 2nd Floor (East) Belgrave Court, Rosehall Road, Bellshill, North Lanarkshire, ML4 3NR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence in the forseeable future. The validity of this assumption depends on the continued support of the company director for the forthcoming year.
Current liabilities include loans due to the director and related parties, these are repayable on demand. Neither the director nor the related parties will demand repayment of the loan due where this would impair the ability of the company to trade.
The directors believe that it is appropriate for the going concern basis to be used.
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.
Income from investment properties lets are recongnised in the period of receipt.
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. Financial Instruments
The company only has basic financial instruments.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective
interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost
using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Investment Properties
£
Cost
As at 1 November 2022 193,775
Additions 5,012
As at 31 October 2023 198,787
Net Book Value
As at 31 October 2023 198,787
As at 1 November 2022 193,775
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Cost or valuation as at 31 October 2023 represented by:
Investment Properties
£
At valuation 198,787
198,787
Investment properties were valued on an open market basis on 31 October 2023 by the directors' for the value of £198,787.
5. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Accruals and deferred income 1,050 660
Directors' loan accounts 110,195 110,000
111,245 110,660
6. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 31 October 2022
£ £
Intercompany loan 89,608 84,551
7. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 2 2
8. Related Party Transactions
At 31st October 2023 the amount owed to Vesab Ltd, a company under common control, totalled £89,608. This amount is non-interest bearing and is repayable on demand.
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