Acorah Software Products - Accounts Production 16.0.110 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 05961798 Mr Jegatheesan Indraprakash iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05961798 2022-10-31 05961798 2023-10-31 05961798 2022-11-01 2023-10-31 05961798 frs-core:CurrentFinancialInstruments 2023-10-31 05961798 frs-core:ShareCapital 2023-10-31 05961798 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 05961798 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05961798 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 05961798 frs-bus:SmallEntities 2022-11-01 2023-10-31 05961798 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 05961798 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 05961798 frs-bus:Director1 2022-11-01 2023-10-31 05961798 frs-countries:EnglandWales 2022-11-01 2023-10-31 05961798 2021-10-31 05961798 2022-10-31 05961798 2021-11-01 2022-10-31 05961798 frs-core:CurrentFinancialInstruments 2022-10-31 05961798 frs-core:ShareCapital 2022-10-31 05961798 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 05961798
Gnanam Properties 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: 05961798
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 887,928 887,928
887,928 887,928
CURRENT ASSETS
Debtors 5 6,660 6,660
Cash at bank and in hand 3,534 43,910
10,194 50,570
Creditors: Amounts Falling Due Within One Year 6 (451,106 ) (528,837 )
NET CURRENT ASSETS (LIABILITIES) (440,912 ) (478,267 )
TOTAL ASSETS LESS CURRENT LIABILITIES 447,016 409,661
NET ASSETS 447,016 409,661
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account 446,816 409,461
SHAREHOLDERS' FUNDS 447,016 409,661
Page 1
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 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 Jegatheesan Indraprakash
Director
25/10/2024
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
Gnanam Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05961798 . The registered office is 3rd Floor Walbrook Building, 195 Marsh Wall, London, E14 9SG.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable in the period in which the rental income relates to, excluding discounts, rebates, value added tax and other sales 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
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Investment Property
2023
£
Fair Value
As at 1 November 2022 and 31 October 2023 887,928
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 887,298 887,298
Investment property was valued on an open market basis on 31 October 2023 by the director.
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 6,660 6,660
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 440,250 519,028
Taxation and social security 10,856 9,809
451,106 528,837
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
Page 4