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 03511068 Mr Christopher Cullen Mr Michael Oliver iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03511068 2023-02-28 03511068 2024-02-29 03511068 2023-03-01 2024-02-29 03511068 frs-core:CurrentFinancialInstruments 2024-02-29 03511068 frs-core:ComputerEquipment 2024-02-29 03511068 frs-core:ComputerEquipment 2023-03-01 2024-02-29 03511068 frs-core:ComputerEquipment 2023-02-28 03511068 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 03511068 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03511068 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 03511068 frs-core:MotorVehicles 2024-02-29 03511068 frs-core:MotorVehicles 2023-03-01 2024-02-29 03511068 frs-core:MotorVehicles 2023-02-28 03511068 frs-core:PlantMachinery 2024-02-29 03511068 frs-core:PlantMachinery 2023-03-01 2024-02-29 03511068 frs-core:PlantMachinery 2023-02-28 03511068 frs-core:ShareCapital 2024-02-29 03511068 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 03511068 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03511068 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 03511068 frs-bus:SmallEntities 2023-03-01 2024-02-29 03511068 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03511068 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03511068 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28 03511068 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-02-29 03511068 frs-core:ListedExchangeTraded 2024-02-29 03511068 frs-core:ListedExchangeTraded 2023-02-28 03511068 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-02-28 03511068 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-02-29 03511068 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-02-28 03511068 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-02-29 03511068 frs-bus:Director1 2023-03-01 2024-02-29 03511068 frs-bus:Director2 2023-03-01 2024-02-29 03511068 frs-countries:EnglandWales 2023-03-01 2024-02-29 03511068 2022-02-28 03511068 2023-02-28 03511068 2022-03-01 2023-02-28 03511068 frs-core:CurrentFinancialInstruments 2023-02-28 03511068 frs-core:ShareCapital 2023-02-28 03511068 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 03511068 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28
Registered number: 03511068
Otter Homes Ltd.
Unaudited Financial Statements
For The Year Ended 29 February 2024
HAP Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03511068
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,780 811
Investment Properties 5 687,499 1,370,775
Investments 6 231,100 231,100
933,379 1,602,686
CURRENT ASSETS
Debtors 7 55,069 57,591
Cash at bank and in hand 55,935 61,610
111,004 119,201
Creditors: Amounts Falling Due Within One Year 8 (300,808 ) (1,079,038 )
NET CURRENT ASSETS (LIABILITIES) (189,804 ) (959,837 )
TOTAL ASSETS LESS CURRENT LIABILITIES 743,575 642,849
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,279 ) (19,661 )
NET ASSETS 700,296 623,188
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 129,375 44,208
Profit and Loss Account 570,821 578,880
SHAREHOLDERS' FUNDS 700,296 623,188
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 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 Oliver
Director
28 November 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
Otter Homes Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 03511068 . The registered office is The Barn Lower Corry Farm, Dalwood, Axminster, Devon, EX13 7HJ.
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. 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 20%
Plant & Machinery 25%
Motor Vehicles 25%
Computer Equipment 25%
2.3. 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.
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 March 2023 61,533 37,542 14,665 4,039 117,779
Additions - - 18,495 499 18,994
As at 29 February 2024 61,533 37,542 33,160 4,538 136,773
Depreciation
As at 1 March 2023 61,533 37,396 14,665 3,374 116,968
Provided during the period - 21 4,624 380 5,025
As at 29 February 2024 61,533 37,417 19,289 3,754 121,993
Net Book Value
As at 29 February 2024 - 125 13,871 784 14,780
As at 1 March 2023 - 146 - 665 811
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 1,370,775
Disposals (803,631 )
Revaluations 120,355
As at 29 February 2024 687,499
6. Investments
Listed
£
Cost
As at 1 March 2023 231,100
As at 29 February 2024 231,100
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 231,100
As at 1 March 2023 231,100
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,993 16,758
Prepayments and accrued income 3,057 3,464
Other debtors 41,574 37,369
VAT 445 -
55,069 57,591
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,815 2,242
Other taxes and social security 1,334 700
VAT - 365
Other creditors 182,970 966,701
Accruals and deferred income 9,438 13,779
Directors' loan accounts 105,251 95,251
300,808 1,079,038
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Fair Value Reserve
£
As at 1 March 2023 44,208
Movements in fair value reserve 85,167
As at 29 February 2024 129,375
Page 5