Acorah Software Products - Accounts Production 16.1.300 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 10321500 Mr P J Flynn Mr G E Flynn Mrs G L Flynn Mr G P Flynn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10321500 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-08-31 10321500 2023-08-31 10321500 2024-08-31 10321500 2023-09-01 2024-08-31 10321500 frs-core:Non-currentFinancialInstruments 2024-08-31 10321500 frs-core:ComputerEquipment 2024-08-31 10321500 frs-core:ComputerEquipment 2023-09-01 2024-08-31 10321500 frs-core:ComputerEquipment 2023-08-31 10321500 frs-core:ShareCapital 2024-08-31 10321500 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 10321500 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10321500 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 10321500 frs-bus:SmallEntities 2023-09-01 2024-08-31 10321500 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10321500 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10321500 frs-bus:Director1 2023-09-01 2024-08-31 10321500 frs-bus:Director2 2023-09-01 2024-08-31 10321500 frs-bus:Director3 2023-09-01 2024-08-31 10321500 frs-bus:Director4 2023-09-01 2024-08-31 10321500 frs-countries:EnglandWales 2023-09-01 2024-08-31 10321500 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-08-31 10321500 2022-08-31 10321500 2023-08-31 10321500 2022-09-01 2023-08-31 10321500 frs-core:Non-currentFinancialInstruments 2023-08-31 10321500 frs-core:ShareCapital 2023-08-31 10321500 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 10321500
PG3 Property Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
ERC Accountants & Business Advisers Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10321500
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,194 1,395
Investment Properties 5 956,085 956,085
958,279 957,480
CURRENT ASSETS
Debtors 6 16,093 16,729
Cash at bank and in hand 13,625 4,078
29,718 20,807
Creditors: Amounts Falling Due Within One Year 7 (259,359 ) (276,527 )
NET CURRENT ASSETS (LIABILITIES) (229,641 ) (255,720 )
TOTAL ASSETS LESS CURRENT LIABILITIES 728,638 701,760
Creditors: Amounts Falling Due After More Than One Year 8 (687,874 ) (687,874 )
NET ASSETS 40,764 13,886
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account 40,760 13,882
SHAREHOLDERS' FUNDS 40,764 13,886
Page 1
Page 2
For the year ending 31 August 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
Mr P J Flynn
Director
10 January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
PG3 Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10321500 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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'.
2.2. Going Concern Disclosure
The directors have 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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:
Computer equipment 20% Reducing balance
2.5. Investment Properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

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.
2.6. 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.
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.
...CONTINUED
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2.6. Taxation - continued
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: 4 (2023: 4)
4 4
4. Tangible Assets
Computer equipment
£
Cost
As at 1 September 2023 1,835
Additions 1,348
As at 31 August 2024 3,183
Depreciation
As at 1 September 2023 440
Provided during the period 549
As at 31 August 2024 989
Net Book Value
As at 31 August 2024 2,194
As at 1 September 2023 1,395
Cost or valuation as at 31 August 2024 represented by:
Computer equipment
£
At cost 3,183
3,183
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 956,085
The directors have valued the investment properties on an open market basis as at the reporting date, which they consider accurately reflects their fair value.
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 16,093 16,729
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 259,359 276,527
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 687,874 687,874
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 687,874 687,874
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured via fixed and floating charges on the company's assets..
2024 2023
£ £
Bank loans and overdrafts 687,874 687,874
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
11. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
12. Reserves
The profit and loss reserve account records retained earnings and accumulated losses, including the revaluation reserve which records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. The profit and loss reserve account includes both distributable and non distributable as follows:
Profit and (loss) distributable
As at 31/08/2024 (£55,960)
Profit and loss non-distributable
As at 31/08/2024 £96,490
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13. Related Party Transactions
The following related party transactions were undertaken during the year:
During the period a director withdrew £7,000 (2023: £8,200), introduced capital of £1,801 (2023: £1,599) and was paid dividends of £Nil (2023: £Nil). At the balance sheet date the amounts owed to the director totalled £95,896 (2023: £101,095).
During the period a director withdrew £7,000 (2023: £8,200), introduced capital of £1,801 (2023: £1,599) and was paid dividends of £Nil (2023: £Nil). At the balance sheet date the amounts owed to the director totalled £95,896 (2023: £101,095).
During the period a director withdrew £4,000 (2023: £Nil), introduced capital of £555 (2023: £225) and was paid dividends of £Nil (2023: £Nil). At the balance sheet date the amounts owed to the director totalled £32,754 (2023: £36,199).
During the period a director withdrew £4,000 (2023: £Nil), introduced capital of £537 (2023: £180) and was paid dividends of £Nil (2023: £Nil). At the balance sheet date the amounts owed to the director totalled £32,665 (2023: £36,128).
Dividends were paid to the directors in respect of the shareholdings totalling £Nil (2023: £Nil).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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