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 05094684 Mr Paul Russell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05094684 2023-04-30 05094684 2024-04-30 05094684 2023-05-01 2024-04-30 05094684 frs-core:CurrentFinancialInstruments 2024-04-30 05094684 frs-core:Non-currentFinancialInstruments 2024-04-30 05094684 frs-core:BetweenOneFiveYears 2024-04-30 05094684 frs-core:ComputerEquipment 2024-04-30 05094684 frs-core:ComputerEquipment 2023-05-01 2024-04-30 05094684 frs-core:ComputerEquipment 2023-04-30 05094684 frs-core:FurnitureFittings 2024-04-30 05094684 frs-core:FurnitureFittings 2023-05-01 2024-04-30 05094684 frs-core:FurnitureFittings 2023-04-30 05094684 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-30 05094684 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 05094684 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-30 05094684 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 05094684 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05094684 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 05094684 frs-core:MotorVehicles 2024-04-30 05094684 frs-core:MotorVehicles 2023-05-01 2024-04-30 05094684 frs-core:MotorVehicles 2023-04-30 05094684 frs-core:WithinOneYear 2024-04-30 05094684 frs-core:CapitalRedemptionReserve 2024-04-30 05094684 frs-core:ShareCapital 2024-04-30 05094684 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05094684 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05094684 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05094684 frs-bus:SmallEntities 2023-05-01 2024-04-30 05094684 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05094684 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05094684 frs-core:DeferredTaxation 2023-05-01 2024-04-30 05094684 frs-core:DeferredTaxation 2023-04-30 05094684 frs-core:DeferredTaxation 2024-04-30 05094684 frs-core:CostValuation 2023-04-30 05094684 frs-core:CostValuation 2024-04-30 05094684 frs-core:ProvisionsForImpairmentInvestments 2023-04-30 05094684 frs-core:ProvisionsForImpairmentInvestments 2024-04-30 05094684 frs-bus:Director1 2023-05-01 2024-04-30 05094684 frs-countries:EnglandWales 2023-05-01 2024-04-30 05094684 2022-04-30 05094684 2023-04-30 05094684 2022-05-01 2023-04-30 05094684 frs-core:CurrentFinancialInstruments 2023-04-30 05094684 frs-core:Non-currentFinancialInstruments 2023-04-30 05094684 frs-core:BetweenOneFiveYears 2023-04-30 05094684 frs-core:MotorVehicles 2022-05-01 2023-04-30 05094684 frs-core:WithinOneYear 2023-04-30 05094684 frs-core:CapitalRedemptionReserve 2023-04-30 05094684 frs-core:ShareCapital 2023-04-30 05094684 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 05094684
Profile Developments Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05094684
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,594,749 1,619,367
Investments 5 160,000 160,000
1,754,749 1,779,367
CURRENT ASSETS
Debtors 6 4,509 2,713
Cash at bank and in hand 12,329 39,253
16,838 41,966
Creditors: Amounts Falling Due Within One Year 7 (161,909 ) (207,339 )
NET CURRENT ASSETS (LIABILITIES) (145,071 ) (165,373 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,609,678 1,613,994
Creditors: Amounts Falling Due After More Than One Year 8 (125,670 ) (70,588 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (52,421 ) (51,684 )
NET ASSETS 1,431,587 1,491,722
CAPITAL AND RESERVES
Called up share capital 12 60 60
Capital redemption reserve 52 52
Profit and Loss Account 1,431,475 1,491,610
SHAREHOLDERS' FUNDS 1,431,587 1,491,722
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 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 Paul Russell
Director
28 January 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Profile Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05094684 . The registered office is Cambrai Court 1229 Stratford Road, Hall Green, Birmingham, B28 9AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The presentation currency of the financial statements is pound sterling, £.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 rental of office space including service charges.

Rental income
Turnover from the rental income of office space and service charge is invoiced on a monthly basis.Any rental that is invoiced for a period after the year end is adjusted for in turnover and included in creditors as deferred income.
2.4. 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:
Freehold 2% Straight line
Leasehold 5% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
Computer Equipment 33% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
...CONTINUED
Page 3
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2.6. 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 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 May 2023 1,906,671 211,989 204,921 13,030
Additions - 1,807 90,645 6,550
Disposals - - (129,752 ) -
As at 30 April 2024 1,906,671 213,796 165,814 19,580
Depreciation
As at 1 May 2023 522,334 102,578 82,470 10,084
Provided during the period 27,867 5,482 34,352 802
Disposals - - (72,732 ) -
As at 30 April 2024 550,201 108,060 44,090 10,886
Net Book Value
As at 30 April 2024 1,356,470 105,736 121,724 8,694
As at 1 May 2023 1,384,337 109,411 122,451 2,946
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 May 2023 10,518 2,347,129
Additions 2,172 101,174
Disposals - (129,752 )
As at 30 April 2024 12,690 2,318,551
Depreciation
As at 1 May 2023 10,296 727,762
Provided during the period 269 68,772
Disposals - (72,732 )
As at 30 April 2024 10,565 723,802
Net Book Value
As at 30 April 2024 2,125 1,594,749
As at 1 May 2023 222 1,619,367
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 121,724 122,451
Cost or valuation as at 30 April 2024 represented by:
Land & Property
Freehold Leasehold Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost 1,906,671 213,796 165,814 19,580
1,906,671 213,796 165,814 19,580
Computer Equipment Total
£ £
At cost 12,690 2,318,551
12,690 2,318,551
Included in freehold property is a value of £500,000 (2023: £500,000) for freehold land, which is not depreciated.
Leasehold relates to property improvements on the freehold property.
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5. Investments
Other
£
Cost
As at 1 May 2023 160,000
As at 30 April 2024 160,000
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 160,000
As at 1 May 2023 160,000
The investment property is valued annually by the director.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 715
Other debtors 4,509 1,998
4,509 2,713
Included within other debtors is prepayments amounting to  £3,043 (2023:£2,658).
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,108 88,727
Trade creditors 3,229 17,453
Bank loans and overdrafts 8,333 8,333
Other creditors 88,706 58,836
Taxation and social security 46,533 33,990
161,909 207,339
Included within Other creditors is accruals amounting to £3,072 (2023: £9,537).
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 113,120 50,045
Bank loans 12,550 20,543
125,670 70,588
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9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 128,228 138,772
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,108 88,727
Later than one year and not later than five years 113,120 50,045
128,228 138,772
128,228 138,772
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2023 51,684 51,684
Additions 737 737
Balance at 30 April 2024 52,421 52,421
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 60 60
13. Related Party Transactions
During the year, total dividends of £83,333 (2023: £104,000) were paid to the director.
The company pays the director interest at 6.5% pa on the director's loan. This totalled £Nil (2023: £Nil).
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