Acorah Software Products - Accounts Production 16.1.200 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 00452829 Christopher Hide Julia Hide iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00452829 2023-03-31 00452829 2024-03-31 00452829 2023-04-01 2024-03-31 00452829 frs-core:CurrentFinancialInstruments 2024-03-31 00452829 frs-core:Non-currentFinancialInstruments 2024-03-31 00452829 frs-core:ComputerEquipment 2024-03-31 00452829 frs-core:ComputerEquipment 2023-04-01 2024-03-31 00452829 frs-core:ComputerEquipment 2023-03-31 00452829 frs-core:FurnitureFittings 2024-03-31 00452829 frs-core:FurnitureFittings 2023-04-01 2024-03-31 00452829 frs-core:FurnitureFittings 2023-03-31 00452829 frs-core:PlantMachinery 2024-03-31 00452829 frs-core:PlantMachinery 2023-04-01 2024-03-31 00452829 frs-core:PlantMachinery 2023-03-31 00452829 frs-core:ShareCapital 2024-03-31 00452829 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 00452829 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00452829 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 00452829 frs-bus:SmallEntities 2023-04-01 2024-03-31 00452829 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00452829 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00452829 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-04-01 2024-03-31 00452829 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 00452829 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 00452829 frs-bus:Director1 2023-04-01 2024-03-31 00452829 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 00452829 frs-countries:EnglandWales 2023-04-01 2024-03-31 00452829 2022-03-31 00452829 2023-03-31 00452829 2022-04-01 2023-03-31 00452829 frs-core:CurrentFinancialInstruments 2023-03-31 00452829 frs-core:Non-currentFinancialInstruments 2023-03-31 00452829 frs-core:ShareCapital 2023-03-31 00452829 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 00452829 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31
Registered number: 00452829
Saunders Properties Trust Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 00452829
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,276 948
Investment Properties 5 1,766,344 1,766,344
1,767,620 1,767,292
CURRENT ASSETS
Debtors 6 5,118 4,525
Cash at bank and in hand 9,977 29,170
15,095 33,695
Creditors: Amounts Falling Due Within One Year 7 (865,605 ) (953,831 )
NET CURRENT ASSETS (LIABILITIES) (850,510 ) (920,136 )
TOTAL ASSETS LESS CURRENT LIABILITIES 917,110 847,156
Creditors: Amounts Falling Due After More Than One Year 8 (8,472 ) (13,652 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (69,014 ) (52,389 )
NET ASSETS 839,624 781,115
CAPITAL AND RESERVES
Called up share capital 9 1,002 1,002
Fair value reserve 10 296,597 313,083
Profit and Loss Account 542,025 467,030
SHAREHOLDERS' FUNDS 839,624 781,115
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Page 2
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 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
Christopher Hide
Director
6 January 2025
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
Saunders Properties Trust Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00452829 . The registered office is 31 Hillside Crescent, Enfield, Middlesex, EN2 0HP.
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 represents the fair value of rents receivable.
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 10% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.4. Investment Properties
All investment properties are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they 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.
Deferred tax is provided on investment property gains and recognised in the profit and loss account and  fair value reserve.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets: which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
...CONTINUED
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2.5. Financial Instruments - continued
Classification of financial liabilities: Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities: including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.6. 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.
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 year, 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 year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 1,636 878 718 3,232
Additions - - 649 649
As at 31 March 2024 1,636 878 1,367 3,881
Depreciation
As at 1 April 2023 998 790 496 2,284
Provided during the period 64 22 235 321
As at 31 March 2024 1,062 812 731 2,605
Net Book Value
As at 31 March 2024 574 66 636 1,276
As at 1 April 2023 638 88 222 948
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 1,766,344
If investment property had not been revalued and accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost - 1,059,708
Accumulated depreciation and impairment - 6,845
Carrying amount - 1,052,863
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,118 4,525
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 5,180 5,053
Corporation tax 23,723 18,072
Other creditors 6,668 5,415
Accruals and deferred income 1,200 1,020
Director's loan account 828,834 924,271
865,605 953,831
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,472 13,652
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,002 1,002
10. Reserves
Fair Value Reserve
£
As at 1 April 2023 313,083
Transfer to profit and loss (16,486 )
As at 31 March 2024 296,597
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