Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 08857637 Mrs. Victoria Jones Mr Edward Page iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08857637 2023-05-31 08857637 2024-05-31 08857637 2023-06-01 2024-05-31 08857637 frs-core:CurrentFinancialInstruments 2024-05-31 08857637 frs-core:Non-currentFinancialInstruments 2024-05-31 08857637 frs-core:ComputerEquipment 2024-05-31 08857637 frs-core:ComputerEquipment 2023-06-01 2024-05-31 08857637 frs-core:ComputerEquipment 2023-05-31 08857637 frs-core:FurnitureFittings 2024-05-31 08857637 frs-core:FurnitureFittings 2023-06-01 2024-05-31 08857637 frs-core:FurnitureFittings 2023-05-31 08857637 frs-core:ShareCapital 2024-05-31 08857637 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 08857637 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08857637 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 08857637 frs-bus:SmallEntities 2023-06-01 2024-05-31 08857637 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08857637 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08857637 frs-bus:Director1 2023-06-01 2024-05-31 08857637 frs-bus:Director2 2023-06-01 2024-05-31 08857637 frs-countries:EnglandWales 2023-06-01 2024-05-31 08857637 2022-05-31 08857637 2023-05-31 08857637 2022-06-01 2023-05-31 08857637 frs-core:CurrentFinancialInstruments 2023-05-31 08857637 frs-core:Non-currentFinancialInstruments 2023-05-31 08857637 frs-core:ShareCapital 2023-05-31 08857637 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 08857637
Castle Crown Properties Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08857637
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,165 4,097
Investment Properties 5 38,526,141 36,519,288
38,529,306 36,523,385
CURRENT ASSETS
Debtors 6 1,848,490 1,565,711
Cash at bank and in hand 506,573 406,678
2,355,063 1,972,389
Creditors: Amounts Falling Due Within One Year 7 (1,457,114 ) (1,292,087 )
NET CURRENT ASSETS (LIABILITIES) 897,949 680,302
TOTAL ASSETS LESS CURRENT LIABILITIES 39,427,255 37,203,687
Creditors: Amounts Falling Due After More Than One Year 8 (24,493,321 ) (23,793,321 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (159,767 ) (155,626 )
NET ASSETS 14,774,167 13,254,740
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 14,774,067 13,254,640
SHAREHOLDERS' FUNDS 14,774,167 13,254,740
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For the year ending 31 May 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
Mrs. Victoria Jones
Director
11/12/2024
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
Castle Crown Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08857637 . The registered office is Sandhill Farm Newton Le Willows, Bedale, DL8 1TH.
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 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.
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:
Fixtures & Fittings 25% on cost
Computer Equipment 25% on reducing balance
2.4. 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.
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expectedto be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

  • at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
  • at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

...CONTINUED
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2.5. Financial Instruments - continued
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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. Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments.

Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange
derivatives.
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 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Interest income
Interest income is recognised in profit or loss using the effective interest method.
2.10. Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
2.11. Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 June 2023 80,937 23,371 104,308
As at 31 May 2024 80,937 23,371 104,308
Depreciation
As at 1 June 2023 80,937 19,274 100,211
Provided during the period - 932 932
As at 31 May 2024 80,937 20,206 101,143
Net Book Value
As at 31 May 2024 - 3,165 3,165
As at 1 June 2023 - 4,097 4,097
Investment property was revalued in November 2022 by J&E Shepherd who are independent chartered surveyors based in Edinburgh, on an open market basis. Investment property additions after this date are included at cost. The directors have considered the market conditions as at 31 May 2024 and are of the opinion that the fair value in the accounts does not materially differ from the market value.
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 36,519,288
Additions 2,272,324
Disposals (265,471 )
As at 31 May 2024 38,526,141
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 106,752 453,511
Other debtors 1,741,738 1,112,200
1,848,490 1,565,711
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 800 -
Other creditors 1,056,676 1,006,109
Taxation and social security 399,638 285,978
1,457,114 1,292,087
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 24,493,321 23,793,321
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
As at 31 May 2024, there were distributable reserves of £12,963,957 (2023 £11,444,530) and non-distributable reserves of £1,810,110 (2023 £1,810,110).
11. Related Party Transactions
Owners holding a participating interest have loans due from the company totalling £24,793,321 (2023 £24,093,321). These loans are unsecured.
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