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 SC353843 Mr Gary Murray true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC353843 2023-02-28 SC353843 2024-02-29 SC353843 2023-03-01 2024-02-29 SC353843 frs-core:CurrentFinancialInstruments 2024-02-29 SC353843 frs-core:Non-currentFinancialInstruments 2024-02-29 SC353843 frs-core:BetweenOneFiveYears 2024-02-29 SC353843 frs-core:ComputerEquipment 2024-02-29 SC353843 frs-core:ComputerEquipment 2023-03-01 2024-02-29 SC353843 frs-core:ComputerEquipment 2023-02-28 SC353843 frs-core:MotorVehicles 2024-02-29 SC353843 frs-core:MotorVehicles 2023-03-01 2024-02-29 SC353843 frs-core:MotorVehicles 2023-02-28 SC353843 frs-core:WithinOneYear 2024-02-29 SC353843 frs-core:ShareCapital 2024-02-29 SC353843 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC353843 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC353843 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC353843 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC353843 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC353843 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC353843 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 SC353843 frs-bus:OrdinaryShareClass1 2024-02-29 SC353843 frs-bus:OrdinaryShareClass2 2023-03-01 2024-02-29 SC353843 frs-bus:OrdinaryShareClass2 2024-02-29 SC353843 frs-bus:OrdinaryShareClass3 2023-03-01 2024-02-29 SC353843 frs-bus:OrdinaryShareClass3 2024-02-29 SC353843 1 2023-03-01 2024-02-29 SC353843 frs-core:DeferredTaxation 2023-03-01 2024-02-29 SC353843 frs-core:DeferredTaxation 2023-02-28 SC353843 frs-core:DeferredTaxation 2024-02-29 SC353843 frs-core:OtherProvisionsContingentLiabilities 2023-03-01 2024-02-29 SC353843 frs-core:OtherProvisionsContingentLiabilities 2023-02-28 SC353843 frs-core:OtherProvisionsContingentLiabilities 2024-02-29 SC353843 frs-bus:Director1 2023-03-01 2024-02-29 SC353843 frs-core:CurrentFinancialInstruments 1 2024-02-29 SC353843 frs-countries:Scotland 2023-03-01 2024-02-29 SC353843 2022-02-28 SC353843 2023-02-28 SC353843 2022-03-01 2023-02-28 SC353843 frs-core:CurrentFinancialInstruments 2023-02-28 SC353843 frs-core:Non-currentFinancialInstruments 2023-02-28 SC353843 frs-core:BetweenOneFiveYears 2023-02-28 SC353843 frs-core:MotorVehicles 2022-03-01 2023-02-28 SC353843 frs-core:WithinOneYear 2023-02-28 SC353843 frs-core:ShareCapital 2023-02-28 SC353843 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 SC353843 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28 SC353843 frs-bus:OrdinaryShareClass2 2022-03-01 2023-02-28 SC353843 frs-bus:OrdinaryShareClass3 2022-03-01 2023-02-28 SC353843 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: SC353843
Empire Property and Lettings Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Calculus Accountants (Scotland) Ltd
10 Avonhead Road
Condorrat
Glasgow
G67 4RA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC353843
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,017 17,936
18,017 17,936
CURRENT ASSETS
Debtors 5 4,008 8,797
Cash at bank and in hand 71,973 68,101
75,981 76,898
Creditors: Amounts Falling Due Within One Year 6 (52,868 ) (44,014 )
NET CURRENT ASSETS (LIABILITIES) 23,113 32,884
TOTAL ASSETS LESS CURRENT LIABILITIES 41,130 50,820
Creditors: Amounts Falling Due After More Than One Year 7 (29,199 ) (40,749 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 10 (7,370 ) (7,465 )
Deferred Taxation 9 (1,231 ) (735 )
NET ASSETS 3,330 1,871
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 3,230 1,771
SHAREHOLDERS' FUNDS 3,330 1,871
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 Gary Murray
Director
30/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Empire Property and Lettings Limited Registered number SC353843 is a limited by shares company incorporated in Scotland. The Registered Office is 2 Stewarton Street, Wishaw, Lanarkshire, ML2 8AN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover represents amounts chargeable, net of Value Added Tax, in respect of property letting, commissions and estate agency services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Motor Vehicles 25% - Reducing balance basis
Computer Equipment 25% - Reducing balance / 20% straight line basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company.
Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 5
4 5
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Page 4
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 33,148 16,980 50,128
Additions - 4,973 4,973
As at 29 February 2024 33,148 21,953 55,101
Depreciation
As at 1 March 2023 17,514 14,678 32,192
Provided during the period 3,908 984 4,892
As at 29 February 2024 21,422 15,662 37,084
Net Book Value
As at 29 February 2024 11,726 6,291 18,017
As at 1 March 2023 15,634 2,302 17,936
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 11,243 14,991
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,008 5,861
Director's loan account - 2,936
4,008 8,797
The directors loan account at year ended 28th February 2023 of £2,936 was repaid to the Company post year end, and no interest was applicable. 
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,144 4,144
Trade creditors 2,616 3,284
Bank loans and overdrafts 4,621 5,547
Corporation tax 6,687 4,332
PAYE and NI 563 1,316
VAT 15,249 14,351
Company credit card 3,704 1,572
Monies due to landlords 2,984 4,294
Accrued charges 5,406 5,174
Director's loan account 6,894 -
52,868 44,014
Page 4
Page 5
The bank loan was obtained under the BBLS following Covid19 and is in accordance with the terms thereof. 
The directors loan account is unsecured, interest free and has no fixed terms of repayment.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,095 10,239
Bank loans - BBLS 23,104 30,510
29,199 40,749
The bank loan was obtained under the BBLS following Covid19 and is in accordance with the terms thereof. 
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,144 4,144
Later than one year and not later than five years 6,095 10,239
10,239 14,383
10,239 14,383
9. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
2024 2023
£ £
Other timing differences 1,231 735
10. Provisions for Liabilities
Deferred Tax Other Provisions Total
£ £ £
As at 1 March 2023 735 7,465 8,200
Additions 496 - 496
Reversals - (95 ) (95)
Balance at 29 February 2024 1,231 7,370 8,601
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
5 Ordinary Shares of £ 1 each 5 5
70 Ordinary A shares of £ 1 each 70 70
25 Ordinary B shares of £ 1 each 25 25
100 100
Page 5
Page 6
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 28,500 13,500
13. Ultimate Controlling Party
The ultimate controlling party is the sole director Mr Gary Murray by virtue of his ownership of 75% of the issued share capital in the company.
Page 6