Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 11941020 Gari Magalov iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11941020 2023-04-30 11941020 2024-04-30 11941020 2023-05-01 2024-04-30 11941020 frs-core:CurrentFinancialInstruments 2024-04-30 11941020 frs-core:Non-currentFinancialInstruments 2024-04-30 11941020 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-30 11941020 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-01 2024-04-30 11941020 frs-core:InvestmentPropertyIncludedWithinPPE 2023-04-30 11941020 frs-core:ShareCapital 2024-04-30 11941020 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 11941020 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11941020 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 11941020 frs-bus:SmallEntities 2023-05-01 2024-04-30 11941020 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11941020 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11941020 frs-bus:Director1 2023-05-01 2024-04-30 11941020 frs-countries:EnglandWales 2023-05-01 2024-04-30 11941020 2022-04-30 11941020 2023-04-30 11941020 2022-05-01 2023-04-30 11941020 frs-core:CurrentFinancialInstruments 2023-04-30 11941020 frs-core:Non-currentFinancialInstruments 2023-04-30 11941020 frs-core:ShareCapital 2023-04-30 11941020 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 11941020
First Wembley Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11941020
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 725,000 650,000
725,000 650,000
CURRENT ASSETS
Debtors 5 804 -
Cash at bank and in hand 239 -
1,043 -
Creditors: Amounts Falling Due Within One Year 6 (737,670 ) (705,402 )
NET CURRENT ASSETS (LIABILITIES) (736,627 ) (705,402 )
TOTAL ASSETS LESS CURRENT LIABILITIES (11,627 ) (55,402 )
Creditors: Amounts Falling Due After More Than One Year 7 (40,785 ) (41,599 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,305 ) (1,208 )
NET LIABILITIES (67,717 ) (98,209 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (67,817 ) (98,309 )
SHAREHOLDERS' FUNDS (67,717) (98,209)
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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 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
Gari Magalov
Director
17 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
First Wembley Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11941020 . The registered office is 2 Acorn Close, Wembley, HA0 2FY.
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. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.

Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
2.3. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 May 2023 650,000
Revaluation 75,000
As at 30 April 2024 725,000
Net Book Value
As at 30 April 2024 725,000
As at 1 May 2023 650,000
The investment properties are valued as on the year end by directors of the company based on the assessment of available market information and property condition. The directors believe the their valuation would not be materially different from the professional valuation.
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by other related parties 804 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 48
Other taxes and social security 920 862
Other creditors 37,070 24,331
Accruals and deferred income 900 1,800
Director's loan account 698,780 678,361
737,670 705,402
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 40,785 41,599
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Related Party Transactions
Included in creditors due within one year is an amount of £698,780 (2023: £678,361) owed to its director. The amount is interest free and repayable on demand.
Included in debtors due within one year is an amount of £804 (2023: £0) owed from the company in which the director has beneficial ownership. The amount is interest free and repayable on demand.
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