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Registered number: 12542554
Maypine Capital Limited
Financial Statements
For The Year Ended 30 April 2024
Sloane & Co. LLP
Chartered Certified Accountants & Business Advisors
36-38 Westbourne Grove
Newton Road
London
W2 5SH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12542554
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 2,780,000 2,780,000
Investments 5 1,850,000 1,850,000
4,630,000 4,630,000
CURRENT ASSETS
Debtors 6 1,569 1,491
Cash at bank and in hand 164,399 200,494
165,968 201,985
Creditors: Amounts Falling Due Within One Year 7 (2,494,971 ) (2,781,452 )
NET CURRENT ASSETS (LIABILITIES) (2,329,003 ) (2,579,467 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,300,997 2,050,533
NET ASSETS 2,300,997 2,050,533
CAPITAL AND RESERVES
Called up share capital 8 4 4
Other reserves 1,849,996 1,849,996
Profit and Loss Account 450,997 200,533
SHAREHOLDERS' FUNDS 2,300,997 2,050,533
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
Mrs Louise Chu
Director
22 January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Maypine Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12542554 . The registered office is 36-38 Westbourne Grove, Newton Road, London, W2 5SH.
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 represents rental income receivable. Rental Income is recognised in accordance with the rental agreement.
2.3. Investment Properties
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
2.4. Financial Instruments
Financial instruments 
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets 
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets 
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets 
...CONTINUED
Page 3
Page 4
2.4. Financial Instruments - continued
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 liabilities 
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities 
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
Equity instruments 
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.5. 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.
...CONTINUED
Page 4
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2.5. Taxation - continued
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 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
4. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 2,780,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director
of the company. The valuation was made on an open market value basis.
5. Investments
Unlisted
£
Cost
As at 1 May 2023 3,700,000
As at 30 April 2024 3,700,000
Provision
As at 1 May 2023 1,850,000
As at 30 April 2024 1,850,000
Net Book Value
As at 30 April 2024 1,850,000
As at 1 May 2023 1,850,000
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,319 1,241
Other debtors- Stack & Bonner 250 250
1,569 1,491
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 5,272
Corporation tax 29,407 22,506
Other creditors - Rent Deposit 23,995 23,995
Accruals and deferred income 22,437 23,455
Directors' loan accounts 19,788 6,880
Amounts owed to other participating interests 2,399,344 2,699,344
2,494,971 2,781,452
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 6