Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11849544 Mr A S Kooner true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11849544 2023-02-28 11849544 2024-02-29 11849544 2023-03-01 2024-02-29 11849544 frs-core:Non-currentFinancialInstruments 2024-02-29 11849544 frs-core:RevaluationReserve 2024-02-29 11849544 frs-core:ShareCapital 2024-02-29 11849544 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11849544 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11849544 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11849544 frs-bus:SmallEntities 2023-03-01 2024-02-29 11849544 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11849544 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11849544 1 2023-03-01 2024-02-29 11849544 frs-core:CostValuation 2023-02-28 11849544 frs-core:CostValuation 2024-02-29 11849544 frs-core:ProvisionsForImpairmentInvestments 2023-02-28 11849544 frs-core:ProvisionsForImpairmentInvestments 2024-02-29 11849544 frs-bus:Director1 2023-03-01 2024-02-29 11849544 frs-countries:EnglandWales 2023-03-01 2024-02-29 11849544 2022-02-28 11849544 2023-02-28 11849544 2022-03-01 2023-02-28 11849544 frs-core:Non-currentFinancialInstruments 2023-02-28 11849544 frs-core:RevaluationReserve 2023-02-28 11849544 frs-core:ShareCapital 2023-02-28 11849544 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11849544
Abundance Income Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11849544
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 1,260,000 1,260,000
1,260,000 1,260,000
CURRENT ASSETS
Cash at bank and in hand 2,343 60,649
2,343 60,649
Creditors: Amounts Falling Due Within One Year 5 (210,397 ) (212,564 )
NET CURRENT ASSETS (LIABILITIES) (208,054 ) (151,915 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,051,946 1,108,085
Creditors: Amounts Falling Due After More Than One Year 6 (738,789 ) (738,789 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (70,581 ) (70,581 )
NET ASSETS 242,576 298,715
CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 337,740 337,740
Profit and Loss Account (95,264 ) (39,125 )
SHAREHOLDERS' FUNDS 242,576 298,715
Page 1
Page 2
For the year ending 29 February 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 A S Kooner
Director
28th November 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
Abundance Income Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11849544 . The registered office is St Andrew House, The Headrow, Leeds, LS1 5JW.
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 for goods supplied and services rendered, net of discounts and Value Added Tax.
2.3. Investment Properties
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
2.4. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Investments
Other
£
Cost
As at 1 March 2023 1,260,000
As at 29 February 2024 1,260,000
Provision
As at 1 March 2023 -
As at 29 February 2024 -
...CONTINUED
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Page 4
Net Book Value
As at 29 February 2024 1,260,000
As at 1 March 2023 1,260,000
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 210,397 212,564
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 738,789 738,789
Bank loans are secured on the assets to which they relate.
7. Ultimate Controlling Party
The company was controlled throughout the year by the director who owns 100% of the issued share capital.
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