Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07876531 Mrs C Griffin Mr L Griffin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07876531 2023-03-31 07876531 2024-03-31 07876531 2023-04-01 2024-03-31 07876531 frs-core:CurrentFinancialInstruments 2024-03-31 07876531 frs-core:ShareCapital 2024-03-31 07876531 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07876531 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07876531 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07876531 frs-bus:SmallEntities 2023-04-01 2024-03-31 07876531 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07876531 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07876531 frs-bus:Director1 2023-04-01 2024-03-31 07876531 frs-bus:Director2 2023-04-01 2024-03-31 07876531 frs-countries:EnglandWales 2023-04-01 2024-03-31 07876531 2022-03-31 07876531 2023-03-31 07876531 2022-04-01 2023-03-31 07876531 frs-core:CurrentFinancialInstruments 2023-03-31 07876531 frs-core:ShareCapital 2023-03-31 07876531 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07876531
Essendon Property Ventures Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 07876531
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 3 1,279,453 1,204,639
Debtors 4 43,143 72,123
Cash at bank and in hand 17,625 41,477
1,340,221 1,318,239
Creditors: Amounts Falling Due Within One Year 5 (3,194,733 ) (3,168,214 )
NET CURRENT ASSETS (LIABILITIES) (1,854,512 ) (1,849,975 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,854,512 ) (1,849,975 )
NET LIABILITIES (1,854,512 ) (1,849,975 )
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account (1,854,514 ) (1,849,977 )
SHAREHOLDERS' FUNDS (1,854,512) (1,849,975)
For the year ending 31 March 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 L Griffin
Director
27/12/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis notwithstanding the fact that
the company has a deficiency on total equity at the end of the year. The directors consider this basis
to be appropriate as the company has sufficient facilities available from its shareholders to fund its
working capital requirements for a period of at least twelve months from the date these financial
statements were approved.
1.3. 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.
1.4. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less
costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work
in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying
amount is reduced to its selling price less costs to complete and sell. The impairment loss is
recognised immediately in profit or loss.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
3. Stocks
2024 2023
£ £
Property stock 1,279,453 1,204,639
4. Debtors
2024 2023
£ £
Due within one year
VAT 2,529 2,388
Amounts owed by other participating interests 40,614 69,735
43,143 72,123
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,259 40,368
Accruals and deferred income 500 9,300
Directors' loan accounts 2,978,454 2,884,985
Amounts owed to joint ventures (12,000 ) -
Amounts owed to related parties 224,520 233,561
3,194,733 3,168,214
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 3