Acorah Software Products - Accounts Production 16.1.300 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 13331323 Ms Louise Butler Mr Neil Shannon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13331323 2023-04-30 13331323 2024-04-30 13331323 2023-05-01 2024-04-30 13331323 frs-core:CurrentFinancialInstruments 2024-04-30 13331323 frs-core:Non-currentFinancialInstruments 2024-04-30 13331323 frs-core:ShareCapital 2024-04-30 13331323 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 13331323 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13331323 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 13331323 frs-bus:SmallEntities 2023-05-01 2024-04-30 13331323 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 13331323 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 13331323 frs-bus:Director1 2023-05-01 2024-04-30 13331323 frs-bus:Director2 2023-05-01 2024-04-30 13331323 frs-countries:EnglandWales 2023-05-01 2024-04-30 13331323 2022-04-30 13331323 2023-04-30 13331323 2022-05-01 2023-04-30 13331323 frs-core:CurrentFinancialInstruments 2023-04-30 13331323 frs-core:Non-currentFinancialInstruments 2023-04-30 13331323 frs-core:ShareCapital 2023-04-30 13331323 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 13331323
Very Good Property Company Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Spicer & Co UK Limited
Chartered Accountants
Staple House
5 Eleanors Cross
Dunstable
Bedfordshire
LU6 1SU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13331323
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 451,073 451,073
451,073 451,073
CURRENT ASSETS
Debtors 5 - 1,099
Cash at bank and in hand 6,221 9,463
6,221 10,562
Creditors: Amounts Falling Due Within One Year 6 (139,873 ) (148,908 )
NET CURRENT ASSETS (LIABILITIES) (133,652 ) (138,346 )
TOTAL ASSETS LESS CURRENT LIABILITIES 317,421 312,727
Creditors: Amounts Falling Due After More Than One Year 7 (314,039 ) (314,039 )
NET ASSETS/(LIABILITIES) 3,382 (1,312 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 3,380 (1,314 )
SHAREHOLDERS' FUNDS 3,382 (1,312)
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 Profit and Loss Account.
On behalf of the board
Ms Louise Butler
Director
13/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Very Good Property Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13331323 . The registered office is 20 Park Avenue North, Northampton, NN3 2HS.
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
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existance for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. 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.
2.4. 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. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.6. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.7. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 451,073
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 451,073 451,073
5. Debtors
2024 2023
£ £
Due within one year
Other debtors - 1,099
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 139,043 148,908
Taxation and social security 830 -
139,873 148,908
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 314,039 314,039
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Reserves
Profit and Loss Account
The Profit and Loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholder. This is a distributable reserve.
10. Related Party Transactions
As at balance sheet date, included in creditors are amounts due to directors of £137,914 (2023: £147,914).
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