Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10247511 Mrs Rupinder Mahil Mr Barry Davies iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10247511 2023-05-31 10247511 2024-05-31 10247511 2023-06-01 2024-05-31 10247511 frs-core:CurrentFinancialInstruments 2024-05-31 10247511 frs-core:Non-currentFinancialInstruments 2024-05-31 10247511 frs-core:ShareCapital 2024-05-31 10247511 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10247511 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10247511 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10247511 frs-bus:SmallEntities 2023-06-01 2024-05-31 10247511 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10247511 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10247511 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 10247511 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 10247511 frs-bus:Director1 2023-06-01 2024-05-31 10247511 frs-bus:Director2 2023-06-01 2024-05-31 10247511 frs-countries:EnglandWales 2023-06-01 2024-05-31 10247511 2022-05-31 10247511 2023-05-31 10247511 2022-06-01 2023-05-31 10247511 frs-core:CurrentFinancialInstruments 2023-05-31 10247511 frs-core:Non-currentFinancialInstruments 2023-05-31 10247511 frs-core:ShareCapital 2023-05-31 10247511 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10247511 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31
Registered number: 10247511
Spread Eagle House Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10247511
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,200,000 1,200,000
1,200,000 1,200,000
CURRENT ASSETS
Debtors 5 1,000 1,000
Cash at bank and in hand 437 30,080
1,437 31,080
Creditors: Amounts Falling Due Within One Year 6 (876,071 ) (863,733 )
NET CURRENT ASSETS (LIABILITIES) (874,634 ) (832,653 )
TOTAL ASSETS LESS CURRENT LIABILITIES 325,366 367,347
Creditors: Amounts Falling Due After More Than One Year 7 (259,155 ) (259,417 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (112,500 ) (112,500 )
NET LIABILITIES (46,289 ) (4,570 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Fair value reserve 9 337,500 337,500
Profit and Loss Account (384,789 ) (343,070 )
SHAREHOLDERS' FUNDS (46,289) (4,570)
Page 1
Page 2
For the year 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 Rupinder Mahil
Director
Mr Barry Davies
Director
23/12/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Spread Eagle House Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10247511 . The registered office is Bracken Hill House, North Road, Leigh Woods, Bristol, BS8 3PL.
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
Letting of rental property
Turnover from rental property comprises of income earned from letting property. Rents and service charges from lettings are recognised net of losses from voids. Income is recognised from the date the property is first let.
2.3. Investment Properties
All investment properties are carried at fair value determined annually. No depreciation is provided for. Changes in fair
value are recognised in the profit and loss account.
2.4. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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.
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
The average number of employees, including directors, during the year was 2 (2023: 2)
2 2
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Page 4
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 1,200,000
Investment properties have been included at fair market value as determined by the directors.
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,000 1,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 16,482 17,583
VAT - 4,876
Other creditors 52,131 54,000
Accruals and deferred income 780 1,350
Directors' loan accounts 8,007 47,695
Amounts owed to group undertakings 798,671 738,229
876,071 863,733
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 259,155 259,417
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Reserves
Fair Value Reserve
£
As at 1 June 2023 337,500
As at 31 May 2024 337,500
Page 4