Acorah Software Products - Accounts Production 16.0.110 false true true 31 August 2023 26 August 2022 false 1 September 2023 31 August 2024 31 August 2024 14319873 Mr Major Singh Mr Major Singh Mr Major Singh true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14319873 2023-08-31 14319873 2024-08-31 14319873 2023-09-01 2024-08-31 14319873 frs-core:CurrentFinancialInstruments 2024-08-31 14319873 frs-core:Non-currentFinancialInstruments 2024-08-31 14319873 frs-core:MotorVehicles 2024-08-31 14319873 frs-core:MotorVehicles 2023-09-01 2024-08-31 14319873 frs-core:MotorVehicles 2023-08-31 14319873 frs-core:ShareCapital 2024-08-31 14319873 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 14319873 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14319873 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 14319873 frs-bus:SmallEntities 2023-09-01 2024-08-31 14319873 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 14319873 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 14319873 1 2023-09-01 2024-08-31 14319873 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-01 2024-08-31 14319873 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-08-31 14319873 frs-bus:Director1 2023-09-01 2024-08-31 14319873 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 14319873 frs-countries:EnglandWales 2023-09-01 2024-08-31 14319873 2022-08-25 14319873 2023-08-31 14319873 2022-08-26 2023-08-31 14319873 frs-core:CurrentFinancialInstruments 2023-08-31 14319873 frs-core:Non-currentFinancialInstruments 2023-08-31 14319873 frs-core:ShareCapital 2023-08-31 14319873 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 14319873 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31
Registered number: 14319873
Invest Return Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14319873
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,640 3,300
Investment Properties 5 190,000 164,449
192,640 167,749
CURRENT ASSETS
Debtors 6 8,189 960
Cash at bank and in hand 29,061 266
37,250 1,226
Creditors: Amounts Falling Due Within One Year 7 (96,187 ) (62,807 )
NET CURRENT ASSETS (LIABILITIES) (58,937 ) (61,581 )
TOTAL ASSETS LESS CURRENT LIABILITIES 133,703 106,168
Creditors: Amounts Falling Due After More Than One Year 8 (140,900 ) (110,250 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,855 ) -
NET LIABILITIES (12,052 ) (4,082 )
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Fair value reserve 11 20,696 -
Profit and Loss Account (33,748 ) (5,082 )
SHAREHOLDERS' FUNDS (12,052) (4,082)
Page 1
Page 2
For the year ending 31 August 2024 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 Major Singh
Director
21/11/2024
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
Invest Return Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14319873 . The registered office is 46 Millfields Road, Wolverhampton, WV4 6JN.
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 director has 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 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.
2.4. 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:
Motor Vehicles 20% RB (none in the year of purchase)
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.
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost or Valuation
As at 1 September 2023 3,300
As at 31 August 2024 3,300
Depreciation
As at 1 September 2023 -
Provided during the period 660
As at 31 August 2024 660
Net Book Value
As at 31 August 2024 2,640
As at 1 September 2023 3,300
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 164,449
Revaluations 25,551
As at 31 August 2024 190,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,164 -
Prepayments and accrued income 25 39
VAT - 921
8,189 960
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 741 19
VAT 3,735 -
Other creditors 445 -
Director's loan account 91,266 62,788
96,187 62,807
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 140,900 110,250
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 140,900 110,250
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Reserves
Fair Value Reserve
£
Transfer to profit and loss 20,696
As at 31 August 2024 20,696
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr Major Singh by virtue of his ownership of 100% of the issued share capital in the company.
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