Acorah Software Products - Accounts Production 16.1.200 false true 30 June 2023 30 June 2022 false 1 July 2023 30 June 2024 30 June 2024 11435346 Mr M Stevens Dr R J Wheeler iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11435346 2023-06-30 11435346 2024-06-30 11435346 2023-07-01 2024-06-30 11435346 frs-core:CurrentFinancialInstruments 2024-06-30 11435346 frs-core:Non-currentFinancialInstruments 2024-06-30 11435346 frs-core:FurnitureFittings 2024-06-30 11435346 frs-core:FurnitureFittings 2023-07-01 2024-06-30 11435346 frs-core:FurnitureFittings 2023-06-30 11435346 frs-core:ShareCapital 2024-06-30 11435346 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 11435346 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11435346 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 11435346 frs-bus:SmallEntities 2023-07-01 2024-06-30 11435346 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 11435346 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11435346 frs-bus:Director1 2023-07-01 2024-06-30 11435346 frs-bus:Director2 2023-07-01 2024-06-30 11435346 frs-countries:EnglandWales 2023-07-01 2024-06-30 11435346 2022-06-29 11435346 2023-06-30 11435346 2022-06-30 2023-06-30 11435346 frs-core:CurrentFinancialInstruments 2023-06-30 11435346 frs-core:Non-currentFinancialInstruments 2023-06-30 11435346 frs-core:ShareCapital 2023-06-30 11435346 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 11435346
My Property Road Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11435346
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,041 7,856
Investment Properties 5 790,000 772,000
795,041 779,856
CURRENT ASSETS
Debtors 6 6,754 4,201
Cash at bank and in hand 92,821 97,689
99,575 101,890
Creditors: Amounts Falling Due Within One Year 7 (292,037 ) (313,319 )
NET CURRENT ASSETS (LIABILITIES) (192,462 ) (211,429 )
TOTAL ASSETS LESS CURRENT LIABILITIES 602,579 568,427
Creditors: Amounts Falling Due After More Than One Year 8 (547,045 ) (525,050 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,470 ) (8,713 )
NET ASSETS 45,064 34,664
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 44,964 34,564
SHAREHOLDERS' FUNDS 45,064 34,664
Page 1
Page 2
For the year ending 30 June 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 M Stevens
Director
28/02/2025
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
My Property Road Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11435346 . The registered office is Northgate House, North Gate, New Basford, NG7 7BQ.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.3. 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% Reducing balance and 25% Straignt line
2.4. 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.
2.5. 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 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.
Page 3
Page 4
2.6. Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
2.7. Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
2.8. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 July 2023 14,152
Additions 764
As at 30 June 2024 14,916
Depreciation
As at 1 July 2023 6,296
Provided during the period 3,579
As at 30 June 2024 9,875
Net Book Value
As at 30 June 2024 5,041
As at 1 July 2023 7,856
Page 4
Page 5
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 772,000
Additions 8,754
Revaluations 9,246
As at 30 June 2024 790,000
The property has been valued by the director based on current market value and rental yields.
There has been no valuation of investment property by an independent valuer.
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 6,754 4,201
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 91 168
Other creditors 289,954 312,644
Taxation and social security 1,992 507
292,037 313,319
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 547,045 525,050
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5