Acorah Software Products - Accounts Production 16.1.200 false true 5 April 2023 6 April 2022 false 6 April 2023 5 April 2024 5 April 2024 00667951 Mr Richard Knight Mrs Pamela Knight Mrs Alice El Kilany Mr John Knight Mr Christopher Hyde iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00667951 2023-04-05 00667951 2024-04-05 00667951 2023-04-06 2024-04-05 00667951 frs-core:CurrentFinancialInstruments 2024-04-05 00667951 frs-core:FurnitureFittings 2024-04-05 00667951 frs-core:FurnitureFittings 2023-04-06 2024-04-05 00667951 frs-core:FurnitureFittings 2023-04-05 00667951 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-05 00667951 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-06 2024-04-05 00667951 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-05 00667951 frs-core:RevaluationReserve 2023-04-06 2024-04-05 00667951 frs-core:RevaluationReserve 2023-04-05 00667951 frs-core:RevaluationReserve 2024-04-05 00667951 frs-core:SharePremium 2024-04-05 00667951 frs-core:ShareCapital 2024-04-05 00667951 frs-core:RetainedEarningsAccumulatedLosses 2024-04-05 00667951 frs-bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00667951 frs-bus:FilletedAccounts 2023-04-06 2024-04-05 00667951 frs-bus:SmallEntities 2023-04-06 2024-04-05 00667951 frs-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 00667951 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 00667951 frs-core:ListedExchangeTraded 2024-04-05 00667951 frs-core:ListedExchangeTraded 2023-04-05 00667951 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-04-05 00667951 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-04-05 00667951 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-04-05 00667951 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-04-05 00667951 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-04-05 00667951 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-04-05 00667951 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-04-05 00667951 frs-bus:Director1 2023-04-06 2024-04-05 00667951 frs-bus:Director1 2023-04-05 00667951 frs-bus:Director1 2024-04-05 00667951 frs-bus:Director2 2023-04-06 2024-04-05 00667951 frs-bus:Director3 2023-04-06 2024-04-05 00667951 frs-bus:Director4 2023-04-06 2024-04-05 00667951 frs-bus:CompanySecretary1 2023-04-06 2024-04-05 00667951 frs-countries:EnglandWales 2023-04-06 2024-04-05 00667951 2022-04-05 00667951 2023-04-05 00667951 2022-04-06 2023-04-05 00667951 frs-core:CurrentFinancialInstruments 2023-04-05 00667951 frs-core:RevaluationReserve 2023-04-05 00667951 frs-core:SharePremium 2023-04-05 00667951 frs-core:ShareCapital 2023-04-05 00667951 frs-core:RetainedEarningsAccumulatedLosses 2023-04-05
Registered number: 00667951
Rest Bay Property Company Limited(The)
Unaudited Financial Statements
For The Year Ended 5 April 2024
Tungsten Corporate Solutions Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00667951
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,777,003 1,703,003
Investments 5 609,573 667,720
2,386,576 2,370,723
CURRENT ASSETS
Debtors 6 30,275 81,297
Cash at bank and in hand 14,876 11,886
45,151 93,183
Creditors: Amounts Falling Due Within One Year 7 (8,611 ) (22,172 )
NET CURRENT ASSETS (LIABILITIES) 36,540 71,011
TOTAL ASSETS LESS CURRENT LIABILITIES 2,423,116 2,441,734
PROVISIONS FOR LIABILITIES
Deferred Taxation (233,588 ) (231,659 )
NET ASSETS 2,189,528 2,210,075
CAPITAL AND RESERVES
Called up share capital 8 25,000 25,000
Share premium account 99,150 99,150
Revaluation reserve 10 1,122,001 987,598
Profit and Loss Account 943,377 1,098,327
SHAREHOLDERS' FUNDS 2,189,528 2,210,075
Page 1
Page 2
For the year ending 5 April 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 Richard Knight
Director
23/12/2024
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
Rest Bay Property Company Limited(The) is a private company, limited by shares, incorporated in England & Wales, registered number 00667951 . The registered office is 7/8 Windsor Place, Cardiff, CF10 3SX.
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:
Fixtures & Fittings 15% on a reducing balance basis
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 year 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 asset reflects 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: 1 (2023: 1)
1 1
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4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 6 April 2023 1,710,902 1,774 1,712,676
Revaluation 74,000 - 74,000
As at 5 April 2024 1,784,902 1,774 1,786,676
Depreciation
As at 6 April 2023 7,902 1,771 9,673
As at 5 April 2024 7,902 1,771 9,673
Net Book Value
As at 5 April 2024 1,777,000 3 1,777,003
As at 6 April 2023 1,703,000 3 1,703,003
Cost or valuation as at 5 April 2024 represented by:
Investment Properties Fixtures & Fittings Total
£ £ £
At cost 1,784,902 1,774 1,786,676
1,784,902 1,774 1,786,676
Properties were valued as at 19th December 2023 by the Company Secretary who is also a Chartered Surveyor. 
5. Investments
Listed
£
Cost
As at 6 April 2023 667,720
Additions 179,697
Disposals (298,247 )
Revaluations 60,403
As at 5 April 2024 609,573
Provision
As at 6 April 2023 -
As at 5 April 2024 -
Net Book Value
As at 5 April 2024 609,573
As at 6 April 2023 667,720
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,393 71,429
Prepayments and accrued income 291 277
Other debtors 2,374 2,374
Directors' loan accounts 7,217 7,217
30,275 81,297
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,596 5,232
Corporation tax (1 ) 15,020
Accruals and deferred income 2,016 1,920
8,611 22,172
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 25,000 25,000
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 6 April 2023 Amounts advanced Amounts repaid Amounts written off As at 5 April 2024
£ £ £ £ £
Mr Richard Knight 7,217 - - - -
The above loan is unsecured, interest free and repayable on demand.
10. Reserves
Revaluation Reserve
£
As at 6 April 2023 987,598
Transfer to profit and loss 134,403
As at 5 April 2024 1,122,001
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