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Registered number: 03283210
Terramond Developments Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 03283210
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 3 295,744 295,744
Debtors 4 4,689 1,733
Cash at bank and in hand 504,487 485,776
804,920 783,253
Creditors: Amounts Falling Due Within One Year 5 (264,055 ) (205,298 )
NET CURRENT ASSETS (LIABILITIES) 540,865 577,955
TOTAL ASSETS LESS CURRENT LIABILITIES 540,865 577,955
NET ASSETS 540,865 577,955
CAPITAL AND RESERVES
Called up share capital 6 150,000 150,000
Profit and Loss Account 390,865 427,955
SHAREHOLDERS' FUNDS 540,865 577,955
For the year ending 31 December 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
L J Rinn
Director
26/02/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Terramond Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03283210 . The registered office is West House Armstrong Way, Yate, Bristol, BS37 5NG.
1.2. Going Concern Disclosure
The company meets its day-to-day capital requirements through the reserves of the company and therefore does not rely on any third party debt.

The company’s forecasts and projections, taking account of reasonably possible changes in trading performance resulting from an uncertain property market, show that the company will be able to operate within the level of its current reserves. The company currently has no requirement for third party debt to service working capital requirements and therefore is not affected by the risks associated with the availability of bank financing.

After making enquiries, the directors have concluded that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
1.3. Turnover
Turnover represents sales of land and commercial properties during the year net of value added tax. Sales of land and properties are included in turnover upon legal completion. All sales are made within the United Kingdom.

Other operating income

Rental income is recognised, net of value added tax, on a straight line basis over the lease term.

1.4. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value. Cost includes materials, direct labour and appropriate production overheads based on normal levels of activity. Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion and disposal.

Finance costs which are directly attributable to the production of stocks are capitalised as part of the cost of those assets. The capitalisation commences on purchase of the land for development and will cease at the end of the period of production.
1.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.6. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
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Page 3
2. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
3. Stocks
2024 2023
£ £
Stock 295,744 295,744
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,851 -
Other debtors 2,838 1,733
4,689 1,733
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 50,736 46,074
Other creditors 66,452 40,498
Accruals and deferred income 146,867 118,726
264,055 205,298
6. Share Capital
2024 2023
Allotted, called up and fully paid £ £
150,000 Ordinary Shares of £ 1.000 each 150,000 150,000
7. Ultimate Controlling Party
Peter Rinn Holdings Limited and Desmond Lynch Holdings Limited each hold 50% of the share capital of the company.  There is no individual controlling party. 
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