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Registered number: 12044263
All Seasons Property Developments Ltd
Financial Statements
For The Year Ended 30 April 2024
Gravitate Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12044263
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,487 46,399
Investment Properties 5 1,471,811 1,192,701
1,505,298 1,239,100
CURRENT ASSETS
Debtors 6 210,329 128,604
Cash at bank and in hand 16,439 39,677
226,768 168,281
Creditors: Amounts Falling Due Within One Year 7 (303,043 ) (17,218 )
NET CURRENT ASSETS (LIABILITIES) (76,275 ) 151,063
TOTAL ASSETS LESS CURRENT LIABILITIES 1,429,023 1,390,163
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (6,625 ) (4,000 )
NET ASSETS 1,422,398 1,386,163
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve - 4,451
Profit and Loss Account 1,422,298 1,381,612
SHAREHOLDERS' FUNDS 1,422,398 1,386,163
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
R C Moule
Director
24th 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
All Seasons Property Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12044263 . The registered office is 1A Meadowbrook Park, Halfway, Sheffield, S20 2PD.
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
Rental income from investment property leased out under operating leases is recognised in turnover on a straight line basis over the lease term.
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 20% Straight Line
Fixtures & Fittings 20% 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.
2.5. Financial Instruments
Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account within overheads. 
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. 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: 4 (2023: 4)
4 4
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Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 42,500 30,760 73,260
Additions - 1,864 1,864
As at 30 April 2024 42,500 32,624 75,124
Depreciation
As at 1 May 2023 16,043 10,818 26,861
Provided during the period 8,500 6,276 14,776
As at 30 April 2024 24,543 17,094 41,637
Net Book Value
As at 30 April 2024 17,957 15,530 33,487
As at 1 May 2023 26,457 19,942 46,399
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 1,192,701
Additions 279,110
As at 30 April 2024 1,471,811
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 1,470,430 1,189,369
Investment property comprises on property held for rental income. The fair value of the investment property has been arrived at on the basis of a valuation carried out by Eddisons surveyors on 30 December 2021, the directors believe these valuations to reflect the fair value at 30 April 2024. 
Within investment property are six properties which have been valued using only the directors fair value assessment. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 210,329 128,604
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,355 4,081
Other creditors 292,299 3,845
Taxation and social security 7,389 9,292
303,043 17,218
Included within Other Creditors are loans from related parties amounting to £287,348 (2023 - £1,096). These loans are unsecured, interest free and repayable on demand.
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 6,625 4,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Capital Commitments
2024 2023
£ £
At the end of the period - 213,327
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
11. Related Party Transactions
The company has taken advantage of exemption conferred by FRS 102 S33,1A, removing the requirement to disclose transactions between group members.
As at 30 April 2024 amounts owed to entities under common control £208,558 (2023: £0).
Outstanding balances with entities are unsecured, interest free and payable on demand.
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