Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 04396659 Mr Loizos Louis Mr Zachary Louis Mr Loizos Louis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04396659 2023-04-30 04396659 2024-04-30 04396659 2023-05-01 2024-04-30 04396659 frs-core:CurrentFinancialInstruments 2024-04-30 04396659 frs-core:Non-currentFinancialInstruments 2024-04-30 04396659 frs-core:FurnitureFittings 2024-04-30 04396659 frs-core:FurnitureFittings 2023-05-01 2024-04-30 04396659 frs-core:FurnitureFittings 2023-04-30 04396659 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-30 04396659 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04396659 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-30 04396659 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 04396659 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04396659 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 04396659 frs-core:ShareCapital 2024-04-30 04396659 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 04396659 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04396659 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 04396659 frs-bus:SmallEntities 2023-05-01 2024-04-30 04396659 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04396659 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04396659 frs-bus:Director1 2023-05-01 2024-04-30 04396659 frs-bus:Director2 2023-05-01 2024-04-30 04396659 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 04396659 frs-core:Non-currentFinancialInstruments 1 2024-04-30 04396659 frs-core:CurrentFinancialInstruments 2 2024-04-30 04396659 frs-core:CurrentFinancialInstruments 3 2024-04-30 04396659 frs-countries:EnglandWales 2023-05-01 2024-04-30 04396659 2022-04-30 04396659 2023-04-30 04396659 2022-05-01 2023-04-30 04396659 frs-core:CurrentFinancialInstruments 2023-04-30 04396659 frs-core:Non-currentFinancialInstruments 2023-04-30 04396659 frs-core:ShareCapital 2023-04-30 04396659 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 04396659 frs-core:Non-currentFinancialInstruments 1 2023-04-30 04396659 frs-core:CurrentFinancialInstruments 2 2023-04-30 04396659 frs-core:CurrentFinancialInstruments 3 2023-04-30
Registered number: 04396659
Louis Properties Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04396659
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 603,463 603,463
603,463 603,463
CURRENT ASSETS
Debtors 5 401 404
Cash at bank and in hand 113,076 93,005
113,477 93,409
Creditors: Amounts Falling Due Within One Year 6 (59,442 ) (54,688 )
NET CURRENT ASSETS (LIABILITIES) 54,035 38,721
TOTAL ASSETS LESS CURRENT LIABILITIES 657,498 642,184
Creditors: Amounts Falling Due After More Than One Year 7 (214,643 ) (214,643 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (2,400 ) (2,000 )
Deferred Taxation 8 (61,124 ) (46,454 )
NET ASSETS 379,331 379,087
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 379,231 378,987
SHAREHOLDERS' FUNDS 379,331 379,087
Page 1
Page 2
For the year 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 Income Statement.
On behalf of the board
Mr Loizos Louis
Director
9 January 2025
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
Louis Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04396659 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Freehold Not depreciated
Leasehold Not depreciated
Fixtures & Fittings Depreciated fully
2.4. Investment Properties
Freehold and leasehold property comprise investment properties, being non-owner occupied buildings held to earn rentals and for capital appreciation.
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 on investment properties. Changes in fair value are recognised in the income statement.
2024 fair value of investment property: £603,462 (2023: £603,462)
Investment property is derecognised when disposed of, or when no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property is recognised in profit or loss in the period in which the property is derecognised.
2.5. Taxation
The tax expense represents the sum of the corporation 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.
...CONTINUED
Page 3
Page 4
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 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.
2.6. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
2.7. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.
2.8. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investmens with original maturities of three months or less.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Leasehold Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 203,462 400,000 1,439 604,901
As at 30 April 2024 203,462 400,000 1,439 604,901
Depreciation
As at 1 May 2023 - - 1,438 1,438
As at 30 April 2024 - - 1,438 1,438
Net Book Value
As at 30 April 2024 203,462 400,000 1 603,463
As at 1 May 2023 203,462 400,000 1 603,463
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 401 404
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 6 -
Corporation tax 3,967 2,931
Directors loan account - Mr Z Louis 27,735 25,879
Directors loan account - Mr L Louis 27,734 25,878
59,442 54,688
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors' loan account 214,643 214,643
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 61,124 46,454
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Included in retained earnings is £183,373 (2023: £198,042) of net profits which are not available for distribution as they are unrealised.
Page 5