Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 NI610747 Mr James Patterson Mrs Florence Patterson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI610747 2023-02-28 NI610747 2024-02-28 NI610747 2023-03-01 2024-02-28 NI610747 frs-core:CurrentFinancialInstruments 2024-02-28 NI610747 frs-core:FurnitureFittings 2024-02-28 NI610747 frs-core:FurnitureFittings 2023-03-01 2024-02-28 NI610747 frs-core:FurnitureFittings 2023-02-28 NI610747 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-28 NI610747 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 NI610747 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 NI610747 frs-core:PlantMachinery 2024-02-28 NI610747 frs-core:PlantMachinery 2023-03-01 2024-02-28 NI610747 frs-core:PlantMachinery 2023-02-28 NI610747 frs-core:ShareCapital 2024-02-28 NI610747 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 NI610747 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 NI610747 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 NI610747 frs-bus:SmallEntities 2023-03-01 2024-02-28 NI610747 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 NI610747 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 NI610747 frs-core:UnlistedNon-exchangeTraded 2024-02-28 NI610747 frs-core:UnlistedNon-exchangeTraded 2023-02-28 NI610747 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 NI610747 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-28 NI610747 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 NI610747 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-28 NI610747 frs-bus:Director1 2023-03-01 2024-02-28 NI610747 frs-bus:Director2 2023-03-01 2024-02-28 NI610747 frs-core:CurrentFinancialInstruments 1 2024-02-28 NI610747 frs-countries:NorthernIreland 2023-03-01 2024-02-28 NI610747 2022-02-28 NI610747 2023-02-28 NI610747 2022-03-01 2023-02-28 NI610747 frs-core:CurrentFinancialInstruments 2023-02-28 NI610747 frs-core:ShareCapital 2023-02-28 NI610747 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI610747 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: NI610747
Cultra Properties Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
RWCA LTD
158 Upper Newtownards Road
Belfast
Co Antrim
BT4 3EQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI610747
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 627,742 630,535
Investments 5 1 1
627,743 630,536
CURRENT ASSETS
Debtors 6 3,999,500 3,972,500
Cash at bank and in hand 5,211 100,664
4,004,711 4,073,164
Creditors: Amounts Falling Due Within One Year 7 (3,668,855 ) (3,735,824 )
NET CURRENT ASSETS (LIABILITIES) 335,856 337,340
TOTAL ASSETS LESS CURRENT LIABILITIES 963,599 967,876
NET ASSETS 963,599 967,876
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 963,597 967,874
SHAREHOLDERS' FUNDS 963,599 967,876
Page 1
Page 2
For the year ending 28 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 James Patterson
Director
11/11/2024
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
Cultra Properties Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI610747 . The registered office is 25b Seafront Road, Holywood, Down, BT18 0BB.
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.
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:
Freehold 0%
Plant & Machinery 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
Current tax for the year is recognised in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 627,742 8,900 12,925 649,567
As at 28 February 2024 627,742 8,900 12,925 649,567
Depreciation
As at 1 March 2023 - 7,761 11,271 19,032
Provided during the period - 1,139 1,654 2,793
As at 28 February 2024 - 8,900 12,925 21,825
Net Book Value
As at 28 February 2024 627,742 - - 627,742
As at 1 March 2023 627,742 1,139 1,654 630,535
5. Investments
Unlisted
£
Cost
As at 1 March 2023 1
As at 28 February 2024 1
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 1
As at 1 March 2023 1
Investments are 50% of the shareholding of Stonegate Land & Property Limited (NI643590), a private limited company registered in Nothern Ireland.
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 3,999,500 3,972,500
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Corporation tax - 7,870
Other creditors (1) 1,556,305 1,516,305
Accruals and deferred income 2,100 1,200
Directors' loan accounts 2,110,450 2,210,450
3,668,855 3,735,824
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
At the year end the company had the following related party balances due or owed;
  • owed the directors £2,110,450 (20223: £2,210,450) as an interest free loan
  • was owed £3,972,500 (2023: £3,972,000) by the company noted in Investments
  • was owed £27,000 (2023: £Nil) by another related party
  • owed £1,556,305 (2023: £1,516,305) to other related parties
Page 5