Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 02146247 Mr S R Bourne Mrs C S Bourne iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02146247 2023-03-31 02146247 2024-03-31 02146247 2023-04-01 2024-03-31 02146247 frs-core:CurrentFinancialInstruments 2024-03-31 02146247 frs-core:Non-currentFinancialInstruments 2024-03-31 02146247 frs-core:MotorVehicles 2024-03-31 02146247 frs-core:MotorVehicles 2023-04-01 2024-03-31 02146247 frs-core:MotorVehicles 2023-03-31 02146247 frs-core:PlantMachinery 2024-03-31 02146247 frs-core:PlantMachinery 2023-04-01 2024-03-31 02146247 frs-core:PlantMachinery 2023-03-31 02146247 frs-core:ShareCapital 2024-03-31 02146247 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 02146247 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02146247 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 02146247 frs-bus:SmallEntities 2023-04-01 2024-03-31 02146247 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02146247 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02146247 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 02146247 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 02146247 frs-bus:Director1 2023-04-01 2024-03-31 02146247 frs-bus:Director2 2023-04-01 2024-03-31 02146247 frs-countries:EnglandWales 2023-04-01 2024-03-31 02146247 2022-03-31 02146247 2023-03-31 02146247 2022-04-01 2023-03-31 02146247 frs-core:CurrentFinancialInstruments 2023-03-31 02146247 frs-core:Non-currentFinancialInstruments 2023-03-31 02146247 frs-core:ShareCapital 2023-03-31 02146247 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 02146247 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31
Registered number: 02146247
Bourne Property Developments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
McPhersons Walpole Harding
ACCA
Citibase Brighton
95 Ditchling Road
Brighton
BN1 4ST
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02146247
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,889 3,207
Investment Properties 5 5,034,177 5,461,394
5,063,066 5,464,601
CURRENT ASSETS
Stocks 6 6,347,169 6,396,739
Debtors 7 3,581 -
Cash at bank and in hand 35,207 60,607
6,385,957 6,457,346
Creditors: Amounts Falling Due Within One Year 8 (1,718,901 ) (1,758,168 )
NET CURRENT ASSETS (LIABILITIES) 4,667,056 4,699,178
TOTAL ASSETS LESS CURRENT LIABILITIES 9,730,122 10,163,779
Creditors: Amounts Falling Due After More Than One Year 9 (485,232 ) (1,312,828 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (50,726 ) (29,110 )
NET ASSETS 9,194,164 8,821,841
CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 (277,217 ) 150,000
Profit and Loss Account 9,471,281 8,671,741
SHAREHOLDERS' FUNDS 9,194,164 8,821,841
Page 1
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
Mr S R Bourne
Director
31 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bourne Property Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02146247 . The registered office is c/o McPhersons Walpole Harding, Citibase Brighton, 95 Ditchling Road, Brighton, BN1 4ST.
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, net of discounts and value added taxes.
Turnover includes revenue earned from the sale of properties on the open market and from rental income earned on properties held in stock.
Sale of properties
Turnover from the sale of properties 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 contract is irrevocable, on exchange of contracts.
Rental income
Income earned from renting of properties in stock waiting to be sold is recognised when the company has a right to the income as determined by the contract with the tenant.
Income earned from the rental of properties held for investment is shown in other operating income but is recognised on the same basis.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated 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:
Plant & Machinery 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
2.5. 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.
Page 3
Page 4
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
Financial instruments are recognised in the company’s statement of financial position when the company become party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs.
Financial assets classified as receivable within one year are not amortised.
Where financial assets are classified as receivable in more than one year, they are subsequently carried at amortised cost using the effective interest rate method unless the arrangement constitutes a financing transaction, where the transaction is measured as the present value of the future receipts discounted at a market rate of interest.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings within current liabilities.

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 trade and other payables and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of 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 method.

2.8. 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
Page 4
Page 5
2.8. 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: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost or Valuation
As at 1 April 2023 20,955 28,080 49,035
Additions 663 35,450 36,113
Disposals - (27,880 ) (27,880 )
As at 31 March 2024 21,618 35,650 57,268
Depreciation
As at 1 April 2023 18,550 27,278 45,828
Provided during the period 767 8,863 9,630
Disposals - (27,079 ) (27,079 )
As at 31 March 2024 19,317 9,062 28,379
Net Book Value
As at 31 March 2024 2,301 26,588 28,889
As at 1 April 2023 2,405 802 3,207
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 5,461,394
Fair value adjustments (427,217 )
As at 31 March 2024 5,034,177
Page 5
Page 6
6. Stocks
2024 2023
£ £
Stock 6,347,169 6,396,739
7. Debtors
2024 2023
£ £
Due within one year
VAT 3,581 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,268 7,178
Bank loans and overdrafts 382,402 399,302
Other creditors 1,068,066 1,153,469
Taxation and social security 265,165 198,219
1,718,901 1,758,168
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 485,232 1,312,828
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Reserves
Fair Value Reserve
£
As at 1 April 2023 150,000
Movements in fair value reserve (427,217)
As at 31 March 2024 (277,217 )
Page 6