Acorah Software Products - Accounts Production 16.1.200 false true false 10 April 2023 30 April 2024 30 April 2024 14789527 Mr G Bradley Ms S Sukarom Ms T Bradley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14789527 2023-04-09 14789527 2024-04-30 14789527 2023-04-10 2024-04-30 14789527 frs-core:CurrentFinancialInstruments 2024-04-30 14789527 frs-core:Non-currentFinancialInstruments 2024-04-30 14789527 frs-core:ShareCapital 2024-04-30 14789527 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 14789527 frs-bus:PrivateLimitedCompanyLtd 2023-04-10 2024-04-30 14789527 frs-bus:FilletedAccounts 2023-04-10 2024-04-30 14789527 frs-bus:SmallEntities 2023-04-10 2024-04-30 14789527 frs-bus:AuditExempt-NoAccountantsReport 2023-04-10 2024-04-30 14789527 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-10 2024-04-30 14789527 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-04-30 14789527 frs-bus:Director1 2023-04-10 2024-04-30 14789527 frs-bus:Director2 2023-04-10 2024-04-30 14789527 frs-bus:CompanySecretary1 2023-04-10 2024-04-30 14789527 frs-countries:EnglandWales 2023-04-10 2024-04-30
Registered number: 14789527
Onwards & Upwards Ventures Ltd
Unaudited Financial Statements
For the Period 10 April 2023 to 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14789527
30 April 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 210,000
210,000
CURRENT ASSETS
Cash at bank and in hand 48,792
48,792
Creditors: Amounts Falling Due Within One Year 5 (1,559 )
NET CURRENT ASSETS (LIABILITIES) 47,233
TOTAL ASSETS LESS CURRENT LIABILITIES 257,233
Creditors: Amounts Falling Due After More Than One Year 6 (294,300 )
NET LIABILITIES (37,067 )
CAPITAL AND RESERVES
Called up share capital 8 100
Fair value reserve 9 (24,074 )
Profit and Loss Account (13,093 )
SHAREHOLDERS' FUNDS (37,067)
Page 1
Page 2
For the period 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 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 G Bradley
Director
Ms S Sukarom
Director
12 February 2025
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
Onwards & Upwards Ventures Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14789527 . The registered office is 43 Ryswick Road, Kempston, Bedford, MK42 8SW.
The presentation currency of the financial statements is the Pound Sterling (£).
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 rental of Investment Property.
2.3. 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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Investment Property
30 April 2024
£
Fair Value
As at 10 April 2023 -
Additions 234,074
Fair value adjustments (24,074 )
As at 30 April 2024 210,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
30 April 2024
£
Cost 234,074
The property was valued on an open market basis on 19 December 2024 by the director.
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
30 April 2024
£
Accruals and deferred income 1,559
6. Creditors: Amounts Falling Due After More Than One Year
30 April 2024
£
Bank loans 159,515
Directors loan account 134,785
294,300
7. Secured Creditors
Of the creditors the following amounts are secured.
The Bank Loan is secured against Investment Property.
30 April 2024
£
Bank loans and overdrafts 159,515
8. Share Capital
30 April 2024
£
Allotted, Called up and fully paid 100
9. Reserves
Fair Value Reserve
£
Movements in fair value reserve (24,074)
As at 30 April 2024 (24,074 )
Page 4