Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 26 October 2021 false 1 November 2022 31 October 2023 31 October 2023 NI683387 Mr Stephen Smyth Mr Robin Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI683387 2022-10-31 NI683387 2023-10-31 NI683387 2022-11-01 2023-10-31 NI683387 frs-core:CurrentFinancialInstruments 2023-10-31 NI683387 frs-core:Non-currentFinancialInstruments 2023-10-31 NI683387 frs-core:ShareCapital 2023-10-31 NI683387 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI683387 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI683387 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 NI683387 frs-bus:SmallEntities 2022-11-01 2023-10-31 NI683387 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 NI683387 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI683387 frs-bus:Director1 2022-11-01 2023-10-31 NI683387 frs-bus:Director1 2022-10-31 NI683387 frs-bus:Director1 2023-10-31 NI683387 frs-bus:Director2 2022-11-01 2023-10-31 NI683387 frs-countries:NorthernIreland 2022-11-01 2023-10-31 NI683387 2021-10-25 NI683387 2022-10-31 NI683387 2021-10-26 2022-10-31 NI683387 frs-core:CurrentFinancialInstruments 2022-10-31 NI683387 frs-core:Non-currentFinancialInstruments 2022-10-31 NI683387 frs-core:ShareCapital 2022-10-31 NI683387 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: NI683387
RBSS Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Allen Fleming CA Limited
Chartered Accountants & Chartered Tax Advisors
161-163 Upper Lisburn Road
Finaghy
Belfast
BT10 0LJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI683387
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,006,364 1,006,262
1,006,364 1,006,262
CURRENT ASSETS
Debtors 5 14,170 9,286
Cash at bank and in hand 4,020 2,439
18,190 11,725
Creditors: Amounts Falling Due Within One Year 6 (46,200 ) (2,734 )
NET CURRENT ASSETS (LIABILITIES) (28,010 ) 8,991
TOTAL ASSETS LESS CURRENT LIABILITIES 978,354 1,015,253
Creditors: Amounts Falling Due After More Than One Year 7 (947,939 ) (982,838 )
NET ASSETS 30,415 32,415
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 30,413 32,413
SHAREHOLDERS' FUNDS 30,415 32,415
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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 Stephen Smyth
Director
Mr Robin Brown
Director
28 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
RBSS Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI683387 . The registered office is 551 Lisburn Road, Belfast, BT9 7GQ.
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. 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.
...CONTINUED
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2.4. Taxation - continued
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: 1 (2022: 1)
1 1
4. Investment Property
2023
£
Fair Value
As at 1 November 2022 1,006,262
Additions 102
As at 31 October 2023 1,006,364
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 975,526 975,424
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 4,294 1,054
Prepayments and accrued income - 3,752
Other debtors - 2,734
Directors' loan accounts - 546
Amounts owed by associates 9,876 1,200
14,170 9,286
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,197 -
Corporation tax 1,790 370
Accruals and deferred income 900 900
Amounts owed to associates 42,313 1,464
46,200 2,734
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 671,250 671,250
Other loans 276,689 311,588
947,939 982,838
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Stephen Smyth 546 - 546 - -
The above loan is unsecured, interest free and repayable on demand.
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