Acorah Software Products - Accounts Production 16.1.300 false true false 24 May 2023 31 May 2024 31 May 2024 14893095 Mrs Lynsey Mcadam Mrs Sophie Mcadam iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14893095 2023-05-23 14893095 2024-05-31 14893095 2023-05-24 2024-05-31 14893095 frs-core:CurrentFinancialInstruments 2024-05-31 14893095 frs-core:Non-currentFinancialInstruments 2024-05-31 14893095 frs-core:InvestmentPropertyIncludedWithinPPE 2024-05-31 14893095 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-24 2024-05-31 14893095 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-23 14893095 frs-core:MotorVehicles 2024-05-31 14893095 frs-core:MotorVehicles 2023-05-24 2024-05-31 14893095 frs-core:MotorVehicles 2023-05-23 14893095 frs-core:ShareCapital 2024-05-31 14893095 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 14893095 frs-bus:PrivateLimitedCompanyLtd 2023-05-24 2024-05-31 14893095 frs-bus:FilletedAccounts 2023-05-24 2024-05-31 14893095 frs-bus:SmallEntities 2023-05-24 2024-05-31 14893095 frs-bus:AuditExempt-NoAccountantsReport 2023-05-24 2024-05-31 14893095 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-24 2024-05-31 14893095 frs-bus:Director1 2023-05-24 2024-05-31 14893095 frs-bus:Director2 2023-05-24 2024-05-31 14893095 frs-countries:EnglandWales 2023-05-24 2024-05-31
Registered number: 14893095
McAdam Property Services Ltd
Unaudited Financial Statements
For the Period 24 May 2023 to 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14893095
31 May 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 479,962
479,962
CURRENT ASSETS
Debtors 5 9,448
Cash at bank and in hand 2,079
11,527
Creditors: Amounts Falling Due Within One Year 6 (258,487 )
NET CURRENT ASSETS (LIABILITIES) (246,960 )
TOTAL ASSETS LESS CURRENT LIABILITIES 233,002
Creditors: Amounts Falling Due After More Than One Year 7 (204,937 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,479 )
NET ASSETS 20,586
CAPITAL AND RESERVES
Called up share capital 9 100
Profit and Loss Account 20,486
SHAREHOLDERS' FUNDS 20,586
Page 1
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For the period ending 31 May 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 Sophie Mcadam
Director
06/02/2025
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
McAdam Property Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14893095 . The registered office is 1 Derwent Business Centre, Clarke Street, Derby, DE1 2BU.
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, excluding discounts, rebates, value added tax or other similar sales taxes.
2.3. 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:
Motor Vehicles 25% Straight Line
2.4. Investment Properties
Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
Changes in fair value are recognised in the profit and loss account.
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. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
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4. Tangible Assets
Investment Properties Motor Vehicles Total
£ £ £
Cost or Valuation
As at 24 May 2023 - - -
Additions 376,662 31,950 408,612
Revaluation 79,338 - 79,338
As at 31 May 2024 456,000 31,950 487,950
Depreciation
As at 24 May 2023 - - -
Provided during the period - 7,988 7,988
As at 31 May 2024 - 7,988 7,988
Net Book Value
As at 31 May 2024 456,000 23,962 479,962
As at 24 May 2023 - - -
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
31 May 2024
£
Motor Vehicles 23,962
5. Debtors
31 May 2024
£
Due within one year
Trade debtors 485
Prepayments and accrued income 8,863
Other debtors 100
9,448
6. Creditors: Amounts Falling Due Within One Year
31 May 2024
£
Net obligations under finance lease and hire purchase contracts 3,703
Bank loans and overdrafts 79,399
Other creditors 63,357
Accruals and deferred income 2,272
Directors' loan accounts 109,756
258,487
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7. Creditors: Amounts Falling Due After More Than One Year
31 May 2024
£
Net obligations under finance lease and hire purchase contracts 23,493
Bank loans 181,444
204,937
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amount is secured by a fixed charge over the investment properties. £57,156 is on a repayment basis and £133,862 is on an interest only basis, both with a term of 25 years. The remaining £69,825 is on an interest only basis and is repayable within 12 months.
31 May 2024
£
Bank loans and overdrafts 260,843
9. Share Capital
31 May 2024
£
Allotted, Called up and fully paid 100
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