Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 12015573 Mrs Yan Li Mr Yiu-Tung Poon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12015573 2023-05-31 12015573 2024-05-31 12015573 2023-06-01 2024-05-31 12015573 frs-core:CurrentFinancialInstruments 2024-05-31 12015573 frs-core:Non-currentFinancialInstruments 2024-05-31 12015573 frs-core:FurnitureFittings 2024-05-31 12015573 frs-core:FurnitureFittings 2023-06-01 2024-05-31 12015573 frs-core:FurnitureFittings 2023-05-31 12015573 frs-core:InvestmentPropertyIncludedWithinPPE 2024-05-31 12015573 frs-core:InvestmentPropertyIncludedWithinPPE 2023-05-31 12015573 frs-core:ShareCapital 2024-05-31 12015573 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 12015573 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12015573 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 12015573 frs-bus:SmallEntities 2023-06-01 2024-05-31 12015573 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12015573 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12015573 frs-bus:Director1 2023-06-01 2024-05-31 12015573 frs-bus:Director2 2023-06-01 2024-05-31 12015573 frs-countries:EnglandWales 2023-06-01 2024-05-31 12015573 2022-05-31 12015573 2023-05-31 12015573 2022-06-01 2023-05-31 12015573 frs-core:CurrentFinancialInstruments 2023-05-31 12015573 frs-core:Non-currentFinancialInstruments 2023-05-31 12015573 frs-core:ShareCapital 2023-05-31 12015573 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 12015573
LYST INVESTMENTS LTD
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12015573
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 193,738 193,738
193,738 193,738
CURRENT ASSETS
Debtors 5 2,431 241
Cash at bank and in hand 514 5,452
2,945 5,693
Creditors: Amounts Falling Due Within One Year 6 (44,150 ) (39,077 )
NET CURRENT ASSETS (LIABILITIES) (41,205 ) (33,384 )
TOTAL ASSETS LESS CURRENT LIABILITIES 152,533 160,354
Creditors: Amounts Falling Due After More Than One Year 7 (147,410 ) (153,150 )
NET ASSETS 5,123 7,204
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 5,121 7,202
SHAREHOLDERS' FUNDS 5,123 7,204
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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
Mr Yiu-Tung Poon
Director
18 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
LYST INVESTMENTS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12015573 . The registered office is 11 Kernal Close, Oakgrove, Milton Keynes, MK10 9ST.
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. Going Concern Disclosure
The director has identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, notwithstanding the company's net current liabilities, which the director believes to be appropriate for the following reasons. The company is dependent for its working capital on funds provided to it by the company's director, Mr Yiu-Tung Poon. Mr Yiu-Tung Poon has provided the company with an undertaking that, for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the company.
This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other entities for financial support, the director acknowledges that there can be no certainty that this support will continue, although, at the date of approval of these financial statements, She has no reason to believe that it will not do so.
Based on this undertaking the director believes that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.
2.3. Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value Added Tax.
2.4. 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:
Fixtures & Fittings 25% on cost
2.5. Investment Properties
All investment properties are propeties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.
Subsequent to initial recognition:
1) Invesment properties whose fair value can be measured reliably without undue cost or effort are held at fair value.
Changes in fair value are recognised in the profit and loss account.
2) No depreciation is provided for.
The company's commercial invesmtent properties are valued by the directors based on their understanding of property market conditions and the specific properties concerned using income capitalisation method, requiring the application of an appropriate market based yield to net operating income.
2.6. Financial Instruments
Other debtors
Other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.

Other creditors
Other creditors are recognised initially at transaction price less attributable transaction costs.
Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
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2.7. 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.
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.
2.8. Acquisitions and disposals of properties
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: NIL)
2 -
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 193,738 5,440 199,178
As at 31 May 2024 193,738 5,440 199,178
Depreciation
As at 1 June 2023 - 5,440 5,440
As at 31 May 2024 - 5,440 5,440
Net Book Value
As at 31 May 2024 193,738 - 193,738
As at 1 June 2023 193,738 - 193,738
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Cost or valuation as at 31 May 2024 represented by:
Investment Properties Fixtures & Fittings Total
£ £ £
At cost - 5,440 5,440
At valuation 193,738 - 193,738
193,738 5,440 199,178
The company's investment property is included in the Financial Statements at Directors' valuation.
The company's residential property valued using a sales valuation approach, derived from recent comparable transactions in the market, adjusted by applying discounts to reflect status of occupation and condition.
The company's commercial property valued using the income capitalisation method, requiring the application of an appropriate market based yield to net operating income. Adjustments are made to allow for voids when less than five years are left under the current tenancy and to reflect market rent at the point of lease expiry or rent review.
The historical cost of investment properties are £193,738.
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 861 241
Other debtors 1,570 -
2,431 241
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 4,866 4,746
Corporation tax - 2,972
Other creditors 38,084 28,939
Accruals and deferred income 1,200 2,420
44,150 39,077
Other creditors include amounts aggregating £ 1,071 (2023: £71) due to the directors of the company. The loans are interest free and repayable on demand.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 147,410 153,150
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Accounting estimates and judgements
Property valuations
The valuation of the company's property portfolio is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
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