Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08477701 Mrs Heather Nunn Mrs Pamela Clements Mr Adrian Clements Mrs Elizabeth Clements true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08477701 2023-04-30 08477701 2024-04-30 08477701 2023-05-01 2024-04-30 08477701 frs-core:Non-currentFinancialInstruments 2024-04-30 08477701 frs-core:FurnitureFittings 2023-05-01 2024-04-30 08477701 frs-core:RevaluationReserve 2023-04-30 08477701 frs-core:RevaluationReserve 2024-04-30 08477701 frs-core:ShareCapital 2024-04-30 08477701 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08477701 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08477701 frs-bus:AbridgedAccounts 2023-05-01 2024-04-30 08477701 frs-bus:SmallEntities 2023-05-01 2024-04-30 08477701 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08477701 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08477701 1 2023-05-01 2024-04-30 08477701 frs-core:CostValuation 2023-04-30 08477701 frs-core:CostValuation 2024-04-30 08477701 frs-bus:Director1 2023-05-01 2024-04-30 08477701 frs-bus:Director2 2023-05-01 2024-04-30 08477701 frs-bus:Director3 2023-05-01 2024-04-30 08477701 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 08477701 frs-countries:EnglandWales 2023-05-01 2024-04-30 08477701 2022-04-30 08477701 2023-04-30 08477701 2022-05-01 2023-04-30 08477701 frs-core:Non-currentFinancialInstruments 2023-04-30 08477701 frs-core:RevaluationReserve 2023-04-30 08477701 frs-core:ShareCapital 2023-04-30 08477701 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 08477701
PHAR Property Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 08477701
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 970 1,213
Investment Properties 5 1,077,439 1,077,439
Investments 6 (7,391 ) (7,391 )
1,071,018 1,071,261
CURRENT ASSETS
Debtors 4,576 6,659
Cash at bank and in hand 56,733 35,547
61,309 42,206
Creditors: Amounts Falling Due Within One Year (254,686 ) (268,797 )
NET CURRENT ASSETS (LIABILITIES) (193,377 ) (226,591 )
TOTAL ASSETS LESS CURRENT LIABILITIES 877,641 844,670
Creditors: Amounts Falling Due After More Than One Year (716,605 ) (715,915 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (243 ) (303 )
NET ASSETS 160,793 128,452
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Revaluation reserve 8 7,170 7,170
Profit and Loss Account 152,623 120,282
SHAREHOLDERS' FUNDS 160,793 128,452
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For the year ending 30 April 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 April 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Heather Nunn
Director
Mrs Pamela Clements
Director
Mr Adrian Clements
Director
5th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
PHAR Property Ltd Registered number 08477701 is a limited by shares company incorporated in England & Wales. The Registered Office is c/o Lodge Information Services Ltd, Main Road, Woodham Ferrers, Essex, CM3 8RP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises of the invoiced value of rental revenue earned during the year.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Fixtures & Fittings 20% reducing balance basis
2.4. Investment Properties
Investment properties should not be subject to periodic charges for depreciation on the basis set out in SSAP 12, except for properties held on lease which should be depreciated on the basis set out in SSAP 12 at least over the period when the unexpired term is 20 years or less.
Investment properties should be included in the balance sheet at their open market value.
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 year 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 asset reflects 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.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Total
£
Cost
As at 1 May 2023 4,626
As at 30 April 2024 4,626
Depreciation
As at 1 May 2023 3,413
Provided during the period 243
As at 30 April 2024 3,656
Net Book Value
As at 30 April 2024 970
As at 1 May 2023 1,213
Revalution of investment properties
The revaluation of these properties were carried out by the Directors at the company's year end. This revaluation, in the Directors' opinion, represents the properties open market value at the year end date.
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 1,077,439
6. Investments
Total
£
Cost
As at 1 May 2023 (7,391 )
As at 30 April 2024 (7,391 )
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 (7,391 )
As at 1 May 2023 (7,391 )
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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8. Reserves
Revaluation Reserve
£
As at 1 May 2023 7,170
As at 30 April 2024 7,170
9. Related Party Transactions
Included within the creditors, amounts falling due within one year, is £350,615 (2023: £350,740) due to the director Mrs H Nunn. This amount represents an interest free loan repayable on demand. 
Included within the creditors, amounts falling due within one year, is £351,237 (2023: £351,611) due to the director Mr A Clements. This amount represents an interest free loan repayable on demand. 
Included within the creditors, amounts falling due within one year, is £14,063 (2023: £14,561) due to the director Mrs P Clements. This amount represents an interest free loan repayable on demand. 
Included within the creditors, amounts falling due within one year, is £258,638 due to Lodge Information Services Ltd a company under the control of Mr A Clements. This amount represents an interest free loan repayable on demand. 
Included within the rental income received is £12,600 from the Director, Mrs P Clements. This rent, in the opinion of all the Directors, was paid at the open market rate. 
Included within the rental income received is £14,400 from the Directors, Mr A & Mrs E Clements. This rent, in the opinion of all the Directors, was paid at the open market rate. 
10. Ultimate Controlling Party
The Company does not have an ultimate controlling party.
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