Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 11733217 Mr James Patterson Mr Jeremy Hinds iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11733217 2023-02-28 11733217 2024-02-28 11733217 2023-03-01 2024-02-28 11733217 frs-core:CurrentFinancialInstruments 2024-02-28 11733217 frs-core:ShareCapital 2024-02-28 11733217 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 11733217 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 11733217 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 11733217 frs-bus:SmallEntities 2023-03-01 2024-02-28 11733217 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 11733217 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 11733217 frs-core:UnlistedNon-exchangeTraded 2024-02-28 11733217 frs-core:UnlistedNon-exchangeTraded 2023-02-28 11733217 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 11733217 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-28 11733217 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 11733217 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-28 11733217 frs-bus:Director1 2023-03-01 2024-02-28 11733217 frs-bus:Director2 2023-03-01 2024-02-28 11733217 frs-countries:EnglandWales 2023-03-01 2024-02-28 11733217 2022-02-28 11733217 2023-02-28 11733217 2022-03-01 2023-02-28 11733217 frs-core:CurrentFinancialInstruments 2023-02-28 11733217 frs-core:ShareCapital 2023-02-28 11733217 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11733217
CULTRASTONE DEVELOPMENTS LIMITED
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—4
Page 1
Balance Sheet
Registered number: 11733217
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 18,839,000 18,839,000
Investments 5 1 1
18,839,001 18,839,001
CURRENT ASSETS
Debtors 6 947,392 253,392
Cash at bank and in hand 67,454 457,219
1,014,846 710,611
Creditors: Amounts Falling Due Within One Year 7 (20,692,243 ) (19,945,264 )
NET CURRENT ASSETS (LIABILITIES) (19,677,397 ) (19,234,653 )
TOTAL ASSETS LESS CURRENT LIABILITIES (838,396 ) (395,652 )
NET LIABILITIES (838,396 ) (395,652 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (838,496 ) (395,752 )
SHAREHOLDERS' FUNDS (838,396) (395,652)
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
18/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
CULTRASTONE DEVELOPMENTS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11733217 . The registered office is Oak Green House, 250-256 High Street, Dorking, Surrey, RH4 1QT.
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. Going Concern Disclosure
Whilst the balance sheet is overdrawn at the year end by £838,396 (2023: £395,652), included in creditors is £7,452,569 (2023:£7,445,264) due to its parent company. The parent copmany will not seek repayment of this amount until the company is in a position to do so.
2.3. 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.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 28 February 2024 18,839,000
Page 3
Page 4
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
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 947,392 253,392
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Loans 13,239,673 12,500,000
Amounts owed to parent undertaking 7,452,569 7,445,264
20,692,243 19,945,264
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
At the year end the company owed its parent company, Stonegate Land & Property Limited £7,452,569 (2023: £7,445,264).
It was also owed £947,392 (2023: £253,392) by other related companies.
Page 4