Acorah Software Products - Accounts Production 16.1.300 false true true 28 February 2023 10 February 2022 false 1 March 2023 29 February 2024 29 February 2024 13906530 Mr John Connolly iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13906530 2023-02-28 13906530 2024-02-29 13906530 2023-03-01 2024-02-29 13906530 frs-core:CurrentFinancialInstruments 2024-02-29 13906530 frs-core:Non-currentFinancialInstruments 2024-02-29 13906530 frs-core:FurnitureFittings 2024-02-29 13906530 frs-core:FurnitureFittings 2023-03-01 2024-02-29 13906530 frs-core:FurnitureFittings 2023-02-28 13906530 frs-core:ShareCapital 2024-02-29 13906530 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 13906530 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13906530 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 13906530 frs-bus:SmallEntities 2023-03-01 2024-02-29 13906530 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13906530 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13906530 frs-bus:Director1 2023-03-01 2024-02-29 13906530 frs-countries:EnglandWales 2023-03-01 2024-02-29 13906530 2022-02-09 13906530 2023-02-28 13906530 2022-02-10 2023-02-28 13906530 frs-core:CurrentFinancialInstruments 2023-02-28 13906530 frs-core:Non-currentFinancialInstruments 2023-02-28 13906530 frs-core:ShareCapital 2023-02-28 13906530 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13906530
Pall Mor Estates Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Eastbourne Accountants
First Floor
215 Seaside
Eastbourne
East Sussex
BN22 7NR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13906530
29 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 624 832
Investment Properties 5 205,030 201,735
205,654 202,567
CURRENT ASSETS
Debtors 6 5,577 4,231
Cash at bank and in hand 1 1
5,578 4,232
Creditors: Amounts Falling Due Within One Year 7 (720 ) (720 )
NET CURRENT ASSETS (LIABILITIES) 4,858 3,512
TOTAL ASSETS LESS CURRENT LIABILITIES 210,512 206,079
Creditors: Amounts Falling Due After More Than One Year 8 (233,351 ) (217,470 )
NET LIABILITIES (22,839 ) (11,391 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (22,840 ) (11,392 )
SHAREHOLDERS' FUNDS (22,839) (11,391)
Page 1
Page 2
For the year ending 29 February 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 John Connolly
Director
25th February 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
Pall Mor Estates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13906530 . The registered office is First Floor, 215 Seaside, Eastbourne, East Sussex, BN22 7NR.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Although the Companies balance sheet is at a deficit, the Director has indicated that he will provide support to the Company for the next 12 months.
2.3. 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 and rents receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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 20% Straight Line
2.5. 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.
2.6. 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 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 1 (2023: 1)
1 1
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 1,040
As at 29 February 2024 1,040
Depreciation
As at 1 March 2023 208
Provided during the period 208
As at 29 February 2024 416
Net Book Value
As at 29 February 2024 624
As at 1 March 2023 832
5. Investment Property
29 February 2024
£
Fair Value
As at 1 March 2023 201,735
Additions 3,295
As at 29 February 2024 205,030
6. Debtors
29 February 2024 28 February 2023
£ £
Due within one year
Prepayments and accrued income - 1,290
Deferred tax current asset 5,577 2,941
5,577 4,231
7. Creditors: Amounts Falling Due Within One Year
29 February 2024 28 February 2023
£ £
Accruals and deferred income 720 720
8. Creditors: Amounts Falling Due After More Than One Year
29 February 2024 28 February 2023
£ £
Bank loans 156,781 126,385
Directors loan account 76,570 91,085
233,351 217,470
Page 4
Page 5
9. Secured Creditors
Of the creditors the following amounts are secured.
29 February 2024 28 February 2023
£ £
Bank loans and overdrafts 156,781 126,385
10. Share Capital
29 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 1 1
11. Related Party Transactions
At the balance sheet date, the company owed its Director £76,570 (2023: £91,085). This loan is unsecured, interest free and holds no fixed repayment terms.
Page 5