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 11215252 Mr. John Streets Mr Michael Streets iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11215252 2023-02-28 11215252 2024-02-29 11215252 2023-03-01 2024-02-29 11215252 frs-core:CurrentFinancialInstruments 2024-02-29 11215252 frs-core:Non-currentFinancialInstruments 2024-02-29 11215252 frs-core:ComputerEquipment 2024-02-29 11215252 frs-core:ComputerEquipment 2023-03-01 2024-02-29 11215252 frs-core:ComputerEquipment 2023-02-28 11215252 frs-core:RevaluationReserve 2023-02-28 11215252 frs-core:RevaluationReserve 2024-02-29 11215252 frs-core:ShareCapital 2024-02-29 11215252 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11215252 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11215252 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11215252 frs-bus:SmallEntities 2023-03-01 2024-02-29 11215252 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11215252 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11215252 frs-core:UnlistedNon-exchangeTraded 2024-02-29 11215252 frs-core:UnlistedNon-exchangeTraded 2023-02-28 11215252 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 11215252 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-29 11215252 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 11215252 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 11215252 frs-bus:Director1 2023-03-01 2024-02-29 11215252 frs-bus:Director1 2023-02-28 11215252 frs-bus:Director1 2024-02-29 11215252 frs-bus:Director2 2023-03-01 2024-02-29 11215252 frs-countries:EnglandWales 2023-03-01 2024-02-29 11215252 2022-02-28 11215252 2023-02-28 11215252 2022-03-01 2023-02-28 11215252 frs-core:CurrentFinancialInstruments 2023-02-28 11215252 frs-core:Non-currentFinancialInstruments 2023-02-28 11215252 frs-core:RevaluationReserve 2023-02-28 11215252 frs-core:ShareCapital 2023-02-28 11215252 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11215252
Street Acquisitions Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Thomas Tax (Coventry) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11215252
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,858 386
Investments 5 597,938 597,938
601,796 598,324
CURRENT ASSETS
Debtors 6 295,282 124,520
Investments 7 - 35,104
Cash at bank and in hand 23,130 248,882
318,412 408,506
Creditors: Amounts Falling Due Within One Year 8 (976,772 ) (1,058,130 )
NET CURRENT ASSETS (LIABILITIES) (658,360 ) (649,624 )
TOTAL ASSETS LESS CURRENT LIABILITIES (56,564 ) (51,300 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,655 ) (2,655 )
NET LIABILITIES (59,219 ) (53,955 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 11 29,235 29,235
Profit and Loss Account (88,554 ) (83,290 )
SHAREHOLDERS' FUNDS (59,219) (53,955)
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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 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 Michael Streets
Director
28th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Street Acquisitions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11215252 . The registered office is 30 Binley Road, Coventry, CV3 1JA.
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 comprises fees for consultancy activites.
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:
Computer Equipment 33% on cost
2.4. 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)
- -
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 1,497
Additions 4,457
As at 29 February 2024 5,954
Depreciation
As at 1 March 2023 1,111
Provided during the period 985
As at 29 February 2024 2,096
Net Book Value
As at 29 February 2024 3,858
As at 1 March 2023 386
5. Investments
Unlisted
£
Cost
As at 1 March 2023 597,938
As at 29 February 2024 597,938
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 597,938
As at 1 March 2023 597,938
Fixed asset investments relate to shares in group undertakings and are recognised at cost.
6. Debtors
2024 2023
£ £
Due within one year
Loans 50,000 -
Prepayments and accrued income 287 -
Other debtors 104,723 103,163
Corporation tax recoverable assets 3,049 3,846
Directors' loan accounts 55,199 17,511
213,258 124,520
Due after more than one year
Loans receivable 82,024 -
295,282 124,520
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7. Current Asset Investments
2024 2023
£ £
Listed investments - 35,104
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 2
Corporation tax 3,068 10,868
Other taxes and social security - 8,569
Accruals and deferred income 1,645 1,560
Directors' loan accounts 817,481 902,480
Amounts owed to group undertakings 154,578 134,651
976,772 1,058,130
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Michael Streets 25,000 80,000 35,000 - 70,000
The above loan is unsecured, interest free and repayable on demand.
11. Reserves
Revaluation Reserve
£
As at 1 March 2023 29,235
As at 29 February 2024 29,235
12. Related Party Transactions
Street Acquisitions Limited own 100% of the shareholding in Street Acquisitions Bowlalley Lane Limited.
Mr M Streets is a director of both Street Acquisitions Limited and Street Acquisitions Bowlalley Lane Limited.
As at 29 February 2024, Street Acquisitions Limited is owed £195,823 by Street Acquisitions Bowlalley Lane Limited.
As at 29 February 2024, Street Acquisitions Limited owe £350,401 to Suffolk Chambers Limited. Mr M Streets is a director of both Street Acquisitions Limited and Suffolk Chambers Limited.
Street Acquisitions Limited has an outstanding loan balance of £36,100 with Exponential Group Limited. No interest has been charged by the company in respect of this loan which is repayable on demand and classified in debtors due within one year. Mr M Streets is a director of both Street Acquisitions Limited and Exponential Group Limited.
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