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Registered number: 14862644
Putney Investment Limited
Unaudited Financial Statements
For the Period 11 May 2023 to 31 May 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14862644
31 May 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 254,751
254,751
CURRENT ASSETS
Cash at bank and in hand 19,766
19,766
Creditors: Amounts Falling Due Within One Year 5 (275,408 )
NET CURRENT ASSETS (LIABILITIES) (255,642 )
TOTAL ASSETS LESS CURRENT LIABILITIES (891 )
NET LIABILITIES (891 )
CAPITAL AND RESERVES
Called up share capital 100
Profit and Loss Account (991 )
SHAREHOLDERS' FUNDS (891)
For the period 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 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.
On behalf of the board
Mr Anthony Lien
Director
26 January 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Putney Investment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14862644 . The registered office is 101 Station Road, Hampton, TW12 2BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
The financial statements have been prepared under the historical cost convention except that investment property is measured at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.
Judgements made by the directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed in note 6.
2.2. Turnover
The turnover of the company is represented by rents and charges receivable in respect of properties held for investment purposes.
2.3. Investment Properties
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.
Subsequent to initial recognition
  • Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and
  • No depreciation is provided in respect of investment properties applying the fair value model.
Investment property fair value is determined by the directors based on their understanding of property market conditions and the specific property concerned. Any gain or loss arising from a change in fair value is recognised in the profit and loss account.
2.4. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial instruments
Trade and other debtors
Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
Trade and other creditors
Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
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2.5. Acquisition and disposal of properties
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL
-
4. Investment Property
31 May 2024
£
Fair Value
As at 11 May 2023 -
Additions 254,751
As at 31 May 2024 254,751
Investment properties held at valuation
The company's investment properties are included in the Financial Statements at Directors' valuation.
Valuation techniques and key inputs
The company's commercial units were valued using the income capitalisation method, requiring the application of an appropriate market based yield to net operating income. Adjustments are made to allow for voids when less than five years are left under the current tenancy and to reflect market rent at the point of lease expiry or rent review.
Historical cost model
The historical cost of investment properties at 31 May 2024 is £254,751.
5. Creditors: Amounts Falling Due Within One Year
31 May 2024
£
Other creditors 275,408
Other creditors relate to an amount due to the director and shareholder of the company. The loan is interest free and repayable on demand.
6. Accounting estimates and judgements
i. Property valuations
The valuation of the company's property portfolio is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions (as set out in Note 4). Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
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