Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 9 March 2022 false 1 April 2023 31 March 2024 31 March 2024 13965159 Mr Andrew Hudson Ms Rebecca Judge iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13965159 2023-03-31 13965159 2024-03-31 13965159 2023-04-01 2024-03-31 13965159 frs-core:Non-currentFinancialInstruments 2024-03-31 13965159 frs-core:ShareCapital 2024-03-31 13965159 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 13965159 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13965159 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 13965159 frs-bus:SmallEntities 2023-04-01 2024-03-31 13965159 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13965159 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13965159 frs-bus:Director1 2023-04-01 2024-03-31 13965159 frs-bus:Director2 2023-04-01 2024-03-31 13965159 frs-countries:EnglandWales 2023-04-01 2024-03-31 13965159 2022-03-08 13965159 2023-03-31 13965159 2022-03-09 2023-03-31 13965159 frs-core:Non-currentFinancialInstruments 2023-03-31 13965159 frs-core:ShareCapital 2023-03-31 13965159 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 13965159
Frost Property Investments Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Steve Pye & Co.
Chartered Certified Accountants
3 North Lynn Bus. Village
Bergen Way, North Lynn Industrial Estate
King's Lynn
Norfolk
PE30 2JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13965159
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 410,671 410,671
410,671 410,671
CURRENT ASSETS
Cash at bank and in hand 7,556 22,845
7,556 22,845
Creditors: Amounts Falling Due Within One Year 5 (149,658 ) (149,832 )
NET CURRENT ASSETS (LIABILITIES) (142,102 ) (126,987 )
TOTAL ASSETS LESS CURRENT LIABILITIES 268,569 283,684
Creditors: Amounts Falling Due After More Than One Year 6 (290,237 ) (290,227 )
NET LIABILITIES (21,668 ) (6,543 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (21,768 ) (6,643 )
SHAREHOLDERS' FUNDS (21,668) (6,543)
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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
Ms Rebecca Judge
Director
26 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
Frost Property Investments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13965159 . The registered office is Unit 3, Bergen Way, North Lynn Industrial Estate, King's Lynn, Norfolk, PE30 2JG.  The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on a going concern basis which is dependant upon the continued support of the company's shareholders and directors. The directors are of the opinion that the support will continue over the next 12 months and therefore believes that it is appropriate for the financial statements to be prepared on the going concern basis.
2.2. Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
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.
2.5. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
...CONTINUED
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2.5. Financial Instruments - continued
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
31 March 2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 410,671
5. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Other creditors 149,658 149,832
6. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Other loans 290,237 290,227
7. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
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