Acorah Software Products - Accounts Production 16.0.110 false true false 1 January 2023 31 December 2023 31 December 2023 00613301 Mr Ian Brookes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00613301 2022-12-31 00613301 2023-12-31 00613301 2023-01-01 2023-12-31 00613301 frs-core:CurrentFinancialInstruments 2023-12-31 00613301 frs-core:MotorVehicles 2023-12-31 00613301 frs-core:MotorVehicles 2023-01-01 2023-12-31 00613301 frs-core:MotorVehicles 2022-12-31 00613301 frs-core:PlantMachinery 2023-12-31 00613301 frs-core:PlantMachinery 2023-01-01 2023-12-31 00613301 frs-core:PlantMachinery 2022-12-31 00613301 frs-core:WithinOneYear 2023-12-31 00613301 frs-core:CapitalRedemptionReserve 2023-12-31 00613301 frs-core:SharePremium 2023-12-31 00613301 frs-core:ShareCapital 2023-12-31 00613301 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 00613301 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00613301 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 00613301 frs-bus:SmallEntities 2023-01-01 2023-12-31 00613301 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00613301 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00613301 frs-bus:Director1 2023-01-01 2023-12-31 00613301 frs-countries:EnglandWales 2023-01-01 2023-12-31
Registered number: 00613301
North East Commercial And Residential Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Avery Martin Accountants
Gainford House Picktree Lane
Chester Le Street
DH3 3SR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00613301
2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 24,277
Investment Properties 5 1,679,132
1,703,409
CURRENT ASSETS
Stocks 6 132,154
Debtors 7 30,539
Investments 8 376
Cash at bank and in hand 20,196
183,265
Creditors: Amounts Falling Due Within One Year 9 (487,571 )
NET CURRENT ASSETS (LIABILITIES) (304,306 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,399,103
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,391 )
NET ASSETS 1,383,712
CAPITAL AND RESERVES
Called up share capital 11 3,750
Share premium account 45,850
Capital redemption reserve 6,250
Profit and Loss Account 1,327,862
SHAREHOLDERS' FUNDS 1,383,712
Page 1
Page 2
For the year ending 31 December 2023 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 Ian Brookes
Director
20th 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
North East Commercial And Residential Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00613301 . The registered office is 24 Hebden Court, Washington, NE38 8FQ.
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, 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.
2.3. 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:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
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.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under 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.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4
4
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2023 29,594 26,874 56,468
As at 31 December 2023 29,594 26,874 56,468
Depreciation
As at 1 January 2023 19,404 5,375 24,779
Provided during the period 2,038 5,374 7,412
As at 31 December 2023 21,442 10,749 32,191
Net Book Value
As at 31 December 2023 8,152 16,125 24,277
As at 1 January 2023 10,190 21,499 31,689
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 1,679,132
6. Stocks
2023
£
Work in progress 132,154
7. Debtors
2023
£
Due within one year
Trade debtors 8,695
Other debtors 21,844
30,539
8. Current Asset Investments
2023
£
Other investments, held for sale 376
Page 4
Page 5
9. Creditors: Amounts Falling Due Within One Year
2023
£
Net obligations under finance lease and hire purchase contracts 6,251
Bank loans and overdrafts 481,748
Amounts owed to participating interests (32,877 )
Other creditors 30,631
Taxation and social security 1,818
487,571
10. Obligations Under Finance Leases and Hire Purchase
2023
£
The future minimum finance lease payments are as follows:
Not later than one year 6,251
11. Share Capital
2023
£
Allotted, Called up and fully paid 3,750
Page 5