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 10631332 Mr Ian Packard Mrs Nicola Packard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10631332 2023-02-28 10631332 2024-02-29 10631332 2023-03-01 2024-02-29 10631332 frs-core:CurrentFinancialInstruments 2024-02-29 10631332 frs-core:Non-currentFinancialInstruments 2024-02-29 10631332 frs-core:ComputerEquipment 2024-02-29 10631332 frs-core:ComputerEquipment 2023-03-01 2024-02-29 10631332 frs-core:ComputerEquipment 2023-02-28 10631332 frs-core:RevaluationReserve 2023-03-01 2024-02-29 10631332 frs-core:RevaluationReserve 2024-02-29 10631332 frs-core:ShareCapital 2024-02-29 10631332 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 10631332 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10631332 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 10631332 frs-bus:SmallEntities 2023-03-01 2024-02-29 10631332 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 10631332 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10631332 frs-core:UnlistedNon-exchangeTraded 2024-02-29 10631332 frs-core:UnlistedNon-exchangeTraded 2023-02-28 10631332 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 10631332 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-29 10631332 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 10631332 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 10631332 frs-bus:Director1 2023-03-01 2024-02-29 10631332 frs-bus:Director2 2023-03-01 2024-02-29 10631332 frs-countries:EnglandWales 2023-03-01 2024-02-29 10631332 2022-02-28 10631332 2023-02-28 10631332 2022-03-01 2023-02-28 10631332 frs-core:CurrentFinancialInstruments 2023-02-28 10631332 frs-core:Non-currentFinancialInstruments 2023-02-28 10631332 frs-core:RevaluationReserve 2023-02-28 10631332 frs-core:ShareCapital 2023-02-28 10631332 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 10631332 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 10631332
MS&M Property Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10631332
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 216
Investment Properties 5 375,000 341,315
Investments 6 1 1
375,001 341,532
CURRENT ASSETS
Debtors 7 1,384 1,545
Cash at bank and in hand 916 5,774
2,300 7,319
Creditors: Amounts Falling Due Within One Year 8 (7,332 ) (40,809 )
NET CURRENT ASSETS (LIABILITIES) (5,032 ) (33,490 )
TOTAL ASSETS LESS CURRENT LIABILITIES 369,969 308,042
Creditors: Amounts Falling Due After More Than One Year 9 (343,204 ) (317,303 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,400 ) -
NET ASSETS/(LIABILITIES) 20,365 (9,261 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 33,685 -
Profit and Loss Account (13,322 ) (9,263 )
SHAREHOLDERS' FUNDS 20,365 (9,261)
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 Ian Packard
Director
24/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MS&M Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10631332 . The registered office is 4 The Pound, Charlton, Wantage, OX12 7HN.
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, 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.
2.3. 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:
Computer Equipment 33% Straight Line
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. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost or Valuation
As at 1 March 2023 649
As at 29 February 2024 649
Depreciation
As at 1 March 2023 433
Provided during the period 216
As at 29 February 2024 649
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 216
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 341,315
Revaluations 33,685
As at 29 February 2024 375,000
6. Investments
Unlisted
£
Cost
As at 1 March 2023 1
As at 29 February 2024 1
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 1
As at 1 March 2023 1
Page 4
Page 5
7. Debtors
2024 2023
as restated
£ £
Due within one year
Prepayments and accrued income - 161
- 161
Due after more than one year
Other debtors 1,384 1,384
1,384 1,384
1,384 1,545
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Other creditors 1,384 1,384
Other creditors (1) - 1
Accruals and deferred income 5,948 5,200
Directors' loan accounts - 34,224
7,332 40,809
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 210,288 210,286
Other loans 109,692 107,017
Directors loan account 23,224 -
343,204 317,303
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Revaluation Reserve
£
Surplus on revaluation 33,685
As at 29 February 2024 33,685
Page 5