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Registered number: 14787305
Pecunia Property Investments Ltd
Unaudited Financial Statements
For the Period 8 April 2023 to 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14787305
30 April 2024
Notes £ £
CURRENT ASSETS
Stocks 4 318,106
Debtors 5 5,198
Cash at bank and in hand 266
323,570
Creditors: Amounts Falling Due Within One Year 6 (326,285 )
NET CURRENT ASSETS (LIABILITIES) (2,715 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,715 )
NET LIABILITIES (2,715 )
CAPITAL AND RESERVES
Called up share capital 8 2
Profit and Loss Account (2,717 )
SHAREHOLDERS' FUNDS (2,715)
Page 1
Page 2
For the period ending 30 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
Sarah Kaur Lali
Director
7 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Pecunia Property Investments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14787305 . The registered office is 80 Harrowgate Drive, Birstall, Leicester, LE4 3GL.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.
2.3. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Sale of trading properties
Turnover from the sale of trading properties is recognised in the income statement when the significant risks and rewards of ownership have been transferred to the buyer, which is usually at the completion.
2.4. 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.
2.5. 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.
...CONTINUED
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2.5. Taxation - continued
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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Stocks
30 April 2024
£
Stock - Properties under development 318,106
5. Debtors
30 April 2024
£
Due within one year
Prepayments and accrued income 5,198
6. Creditors: Amounts Falling Due Within One Year
30 April 2024
£
Bank loans and overdrafts 228,520
Accruals and deferred income 720
Directors' loan accounts 97,045
326,285
7. Secured Creditors
Of the creditors the following amounts are secured.
30 April 2024
£
Bank loans and overdrafts 228,520
8. Share Capital
30 April 2024
£
Allotted, Called up and fully paid 2
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9. Related Party Transactions
Included in creditors due within one year is an amount of £97,045 owed to its directors. The amount is interest free and repayable on demand.
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