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Registered number: 09187598
Principalian Properties Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2024
Newtons Accountants Limited
Chartered Certified Accountants
470 Hucknall Road
Nottingham
Nottinghamshire
NG5 1FX
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 09187598
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 135 500
Investment Properties 5 500,000 450,000
500,135 450,500
CURRENT ASSETS
Debtors 1,951 1,739
Cash at bank and in hand 52,635 53,043
54,586 54,782
Creditors: Amounts Falling Due Within One Year (5,186 ) (4,203 )
NET CURRENT ASSETS (LIABILITIES) 49,400 50,579
TOTAL ASSETS LESS CURRENT LIABILITIES 549,535 501,079
Creditors: Amounts Falling Due After More Than One Year (382,174 ) (382,332 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,949 ) (9,461 )
NET ASSETS 142,412 109,286
CAPITAL AND RESERVES
Called up share capital 6 1 1
Fair value reserve 7 105,176 70,664
Profit and Loss Account 37,235 38,621
SHAREHOLDERS' FUNDS 142,412 109,286
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For the year ending 31 August 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr James Aleander
Director
06/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Principalian Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09187598 . The registered office is 470 Hucknall Road, Nottingham, Nottinghamshire, NG5 1FX.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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:
Computer Equipment 33% Straight Line
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.

The aggregate fair value adjustments, together with the associated deferred tax, are transferred to, and retained in, a separate fair value reserve to better identify undistributable reserves.
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2.5. Taxation
The tax charge represents the sum of the corporation tax currently payable and deferred tax.
The corporation 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)
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4. Tangible Assets
Total
£
Cost or Valuation
As at 1 September 2023 1,108
As at 31 August 2024 1,108
Depreciation
As at 1 September 2023 608
Provided during the period 365
As at 31 August 2024 973
Net Book Value
As at 31 August 2024 135
As at 1 September 2023 500
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5. Investment Property
2024
£
Fair Value
As at 1 September 2023 450,000
Revaluations 50,000
As at 31 August 2024 500,000
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
7. Reserves
Fair Value Reserve
£
As at 1 September 2023 70,664
Transfer to profit and loss 34,512
As at 31 August 2024 105,176
The fair value reserve reflects the changes in value, from cost, to investment properties held together with any associated deferred tax charges.
8. Related Party Transactions
During the year the company had a loan account with the director. The opening balance was £382,260 owing from the company and there were net monies of £288 withdrawn during the year. The closing balance of £382,332 owing from the company, is included in creditors payable after one year.
The above loan is unsecured and interest free.
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