Acorah Software Products - Accounts Production 16.0.110 false true 25 March 2023 26 March 2022 false 26 March 2023 25 March 2024 25 March 2024 05763179 Mr P Sears Mrs E S Sears iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05763179 2023-03-25 05763179 2024-03-25 05763179 2023-03-26 2024-03-25 05763179 frs-core:CurrentFinancialInstruments 2024-03-25 05763179 frs-core:Non-currentFinancialInstruments 2024-03-25 05763179 frs-core:ShareCapital 2024-03-25 05763179 frs-core:RetainedEarningsAccumulatedLosses 2024-03-25 05763179 frs-bus:PrivateLimitedCompanyLtd 2023-03-26 2024-03-25 05763179 frs-bus:FilletedAccounts 2023-03-26 2024-03-25 05763179 frs-bus:SmallEntities 2023-03-26 2024-03-25 05763179 frs-bus:AuditExempt-NoAccountantsReport 2023-03-26 2024-03-25 05763179 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-26 2024-03-25 05763179 frs-bus:Director1 2023-03-26 2024-03-25 05763179 frs-bus:CompanySecretary1 2023-03-26 2024-03-25 05763179 frs-countries:EnglandWales 2023-03-26 2024-03-25 05763179 2022-03-25 05763179 2023-03-25 05763179 2022-03-26 2023-03-25 05763179 frs-core:CurrentFinancialInstruments 2023-03-25 05763179 frs-core:Non-currentFinancialInstruments 2023-03-25 05763179 frs-core:ShareCapital 2023-03-25 05763179 frs-core:RetainedEarningsAccumulatedLosses 2023-03-25
Registered number: 05763179
Sears Property Management Limited
Financial Statements
For The Year Ended 25 March 2024
Accountants-E-Services Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 05763179
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 119,805 112,800
119,805 112,800
Creditors: Amounts Falling Due Within One Year 5 (92,204 ) (65,313 )
NET CURRENT ASSETS (LIABILITIES) 27,601 47,487
TOTAL ASSETS LESS CURRENT LIABILITIES 27,601 47,487
Creditors: Amounts Falling Due After More Than One Year 6 (34,266 ) (39,825 )
NET (LIABILITIES)/ASSETS (6,665 ) 7,662
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (6,666 ) 7,661
SHAREHOLDERS' FUNDS (6,665) 7,662
For the year ending 25 March 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 P Sears
Director
27 November 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
Sears Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05763179 . The registered office is Office 1 Unit 18 Sears House, Alamein Road, Morfa Industrial Estate, Swansea, SA1 2HY.
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Other debtors 119,805 112,800
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,592 10,097
Bank loans and overdrafts 4,500 4,552
Corporation tax 35,622 47,685
Other creditors 14,465 2,906
Director's loan account 27,025 73
92,204 65,313
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 34,266 39,825
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 3