Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 March 2022 false 1 April 2023 31 March 2024 31 March 2024 06115998 Mr Matthew Hinder Mrs Sharon Hinder iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06115998 2023-03-31 06115998 2024-03-31 06115998 2023-04-01 2024-03-31 06115998 frs-core:CurrentFinancialInstruments 2024-03-31 06115998 frs-core:Non-currentFinancialInstruments 2024-03-31 06115998 frs-core:ComputerEquipment 2024-03-31 06115998 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06115998 frs-core:ComputerEquipment 2023-03-31 06115998 frs-core:PlantMachinery 2024-03-31 06115998 frs-core:PlantMachinery 2023-04-01 2024-03-31 06115998 frs-core:PlantMachinery 2023-03-31 06115998 frs-core:RevaluationReserve 2023-03-31 06115998 frs-core:RevaluationReserve 2024-03-31 06115998 frs-core:ShareCapital 2024-03-31 06115998 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06115998 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06115998 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06115998 frs-bus:SmallEntities 2023-04-01 2024-03-31 06115998 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06115998 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06115998 frs-bus:Director1 2023-04-01 2024-03-31 06115998 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 06115998 frs-countries:EnglandWales 2023-04-01 2024-03-31 06115998 2022-02-28 06115998 2023-03-31 06115998 2022-03-01 2023-03-31 06115998 frs-core:CurrentFinancialInstruments 2023-03-31 06115998 frs-core:Non-currentFinancialInstruments 2023-03-31 06115998 frs-core:RevaluationReserve 2023-03-31 06115998 frs-core:ShareCapital 2023-03-31 06115998 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06115998
Asset Property Development Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
SAS Accountancy (SW) Ltd
Dukes Cottage
The Reddings
Compton Martin
Bristol
BS40 6AS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06115998
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,170 1,596
Investment Properties 5 630,000 630,000
632,170 631,596
CURRENT ASSETS
Stocks 6 758 10,460
Debtors 7 1,274 701
Cash at bank and in hand 16,029 5,774
18,061 16,935
Creditors: Amounts Falling Due Within One Year 8 (20,012 ) (12,463 )
NET CURRENT ASSETS (LIABILITIES) (1,951 ) 4,472
TOTAL ASSETS LESS CURRENT LIABILITIES 630,219 636,068
Creditors: Amounts Falling Due After More Than One Year 9 (213,544 ) (229,544 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (52,262 ) (52,153 )
NET ASSETS 364,413 354,371
CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 221,044 221,044
Profit and Loss Account 143,368 133,326
SHAREHOLDERS' FUNDS 364,413 354,371
Page 1
Page 2
For the year ending 31 March 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 Matthew Hinder
Director
30/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Asset Property Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06115998 . The registered office is 231 Cranbrook Road, Redland, Bristol, BS6 7QY.
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 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 25% on straight line basis
Computer Equipment 33.33% on straight line basis
2.4. Investment Properties
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.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
31 March 2024 31 March 2023
Office and administration 1 1
Manufacturing 1 1
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 2,273 11,373 13,646
Additions 2,035 840 2,875
Disposals (1,321 ) (6,661 ) (7,982 )
As at 31 March 2024 2,987 5,552 8,539
Depreciation
As at 1 April 2023 2,162 9,888 12,050
Provided during the period 572 1,729 2,301
Disposals (1,321 ) (6,661 ) (7,982 )
As at 31 March 2024 1,413 4,956 6,369
Net Book Value
As at 31 March 2024 1,574 596 2,170
As at 1 April 2023 111 1,485 1,596
5. Investment Property
31 March 2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 630,000
6. Stocks
31 March 2024 31 March 2023
£ £
Stock 758 10,460
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Page 5
7. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 368 -
Prepayments and accrued income 906 701
1,274 701
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 999 989
Corporation tax 7,028 2,140
Other taxes and social security 7,547 5,417
VAT 3,640 2,875
Other creditors - 186
Accruals and deferred income 798 856
20,012 12,463
9. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans 175,758 175,758
Directors loan account 37,786 53,786
213,544 229,544
10. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 1 1
11. Reserves
Revaluation Reserve
£
As at 1 April 2023 221,044
As at 31 March 2024 221,044
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