Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 02719096 Mr Martin Humphries Mr Robert Humphries iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02719096 2023-02-28 02719096 2024-02-29 02719096 2023-03-01 2024-02-29 02719096 frs-core:CurrentFinancialInstruments 2024-02-29 02719096 frs-core:Non-currentFinancialInstruments 2024-02-29 02719096 frs-core:RevaluationReserve 2023-02-28 02719096 frs-core:RevaluationReserve 2024-02-29 02719096 frs-core:ShareCapital 2024-02-29 02719096 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 02719096 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02719096 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 02719096 frs-bus:SmallEntities 2023-03-01 2024-02-29 02719096 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 02719096 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 02719096 frs-bus:Director1 2023-03-01 2024-02-29 02719096 frs-bus:Director2 2023-03-01 2024-02-29 02719096 frs-countries:EnglandWales 2023-03-01 2024-02-29 02719096 2022-02-28 02719096 2023-02-28 02719096 2022-03-01 2023-02-28 02719096 frs-core:CurrentFinancialInstruments 2023-02-28 02719096 frs-core:Non-currentFinancialInstruments 2023-02-28 02719096 frs-core:RevaluationReserve 2023-02-28 02719096 frs-core:ShareCapital 2023-02-28 02719096 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 02719096
R W Humphries Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Lerica Tax Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02719096
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 950,000 950,000
950,000 950,000
CURRENT ASSETS
Debtors 5 187 633
Cash at bank and in hand 569 463
756 1,096
Creditors: Amounts Falling Due Within One Year 6 (143,211 ) (139,438 )
NET CURRENT ASSETS (LIABILITIES) (142,455 ) (138,342 )
TOTAL ASSETS LESS CURRENT LIABILITIES 807,545 811,658
Creditors: Amounts Falling Due After More Than One Year 7 (199,650 ) (215,844 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (103,028 ) (103,028 )
NET ASSETS 504,867 492,786
CAPITAL AND RESERVES
Called up share capital 8 307,643 307,643
Revaluation reserve 9 503,020 503,020
Profit and Loss Account (305,796 ) (317,877 )
SHAREHOLDERS' FUNDS 504,867 492,786
Page 1
Page 2
For the year ending 29 February 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 Martin Humphries
Director
05/11/2024
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
R W Humphries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02719096 . The registered office is 4 The Old Forge, Tunley, Bath, Banes, BA2 0EB.
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. Turnover comprises of rental income which is recognised on a straight line basis over the term of the lease, this includes any lease incentives granted to tenants.
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. Changes in fair value are recognised in the profit and loss account. Revaluation is carried out when the market indicates that there is a material difference between the carrying and market values of the investment properties. It has been determined that no revaluation adjustment is required for the year ended 28 February 2023 based on the market value of the properties.
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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 2)
3 2
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 950,000
5. Debtors
2024 2023
£ £
Due within one year
VAT 187 633
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 300 2,875
Bank loans and overdrafts 15,677 14,879
Corporation tax 2,834 3,833
Other creditors 123,500 117,001
Accruals and deferred income 900 850
143,211 139,438
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 91,311 106,897
Directors loan account 75,339 75,947
Amounts owed to other participating interests 33,000 33,000
199,650 215,844
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 307,643 307,643
9. Reserves
Revaluation Reserve
£
As at 1 March 2023 503,020
As at 29 February 2024 503,020
Page 4