Acorah Software Products - Accounts Production 16.0.110 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11718013 Mr J Chau Mr L A Gold iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11718013 2022-12-31 11718013 2023-12-31 11718013 2023-01-01 2023-12-31 11718013 frs-core:CurrentFinancialInstruments 2023-12-31 11718013 frs-core:Non-currentFinancialInstruments 2023-12-31 11718013 frs-core:ShareCapital 2023-12-31 11718013 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11718013 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11718013 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11718013 frs-bus:SmallEntities 2023-01-01 2023-12-31 11718013 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11718013 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11718013 frs-bus:Director1 2023-01-01 2023-12-31 11718013 frs-bus:Director2 2023-01-01 2023-12-31 11718013 frs-countries:EnglandWales 2023-01-01 2023-12-31 11718013 2021-12-31 11718013 2022-12-31 11718013 2022-01-01 2022-12-31 11718013 frs-core:CurrentFinancialInstruments 2022-12-31 11718013 frs-core:Non-currentFinancialInstruments 2022-12-31 11718013 frs-core:ShareCapital 2022-12-31 11718013 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11718013
99 Asset Management Ltd
Financial Statements
For The Year Ended 31 December 2023
Halkin Lerman Davis Limited
Beaumont Chancery
44 Southampton Buildings
Holborn
London
WC2A 1AP
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11718013
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 - 87,695
Cash at bank and in hand 1,001 179
1,001 87,874
Creditors: Amounts Falling Due Within One Year 5 (22,429 ) (18,119 )
NET CURRENT ASSETS (LIABILITIES) (21,428 ) 69,755
TOTAL ASSETS LESS CURRENT LIABILITIES (21,428 ) 69,755
Creditors: Amounts Falling Due After More Than One Year 6 (40,000 ) (40,000 )
NET (LIABILITIES)/ASSETS (61,428 ) 29,755
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (61,430 ) 29,753
SHAREHOLDERS' FUNDS (61,428) 29,755
For the year ending 31 December 2023 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 L A Gold
Director
21/11/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
99 Asset Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11718013 . The registered office is 5 Stirling Court, Stirling Way, Borehamwood, WD6 2FX.
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. Stocks and Work in Progress
Work in progress consists of freehold land and buildings which have been acquired for development and ultimate resale.
Work in progress is stated at the lower of cost and net realisable value. Costs consist of all direct costs including purchase price, legal and professional fees, borrowing costs and property development costs. Net realisable value is based on estimated selling price allowing for all further costs of completion and disposal. At each reporting date, an assessment is made for impairment.
Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.3. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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 creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Cash at bank and in hand
Cash and cash equivalents are basic financial assets 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 in current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 2
Page 3
4. Debtors
2023 2022
£ £
Due within one year
Other debtors - 87,695
- 87,695
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Other creditors 8,670 600
Taxation and social security 3,759 7,519
22,429 18,119
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 40,000 40,000
40,000 40,000
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 3