Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10117420 Mr Jae Seon Park true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10117420 2023-03-31 10117420 2024-03-31 10117420 2023-04-01 2024-03-31 10117420 frs-core:CurrentFinancialInstruments 2024-03-31 10117420 frs-core:Non-currentFinancialInstruments 2024-03-31 10117420 frs-core:BetweenOneFiveYears 2024-03-31 10117420 frs-core:ComputerEquipment 2024-03-31 10117420 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10117420 frs-core:ComputerEquipment 2023-03-31 10117420 frs-core:FurnitureFittings 2024-03-31 10117420 frs-core:FurnitureFittings 2023-04-01 2024-03-31 10117420 frs-core:FurnitureFittings 2023-03-31 10117420 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 10117420 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 10117420 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 10117420 frs-core:MotorVehicles 2024-03-31 10117420 frs-core:MotorVehicles 2023-04-01 2024-03-31 10117420 frs-core:MotorVehicles 2023-03-31 10117420 frs-core:PlantMachinery 2024-03-31 10117420 frs-core:PlantMachinery 2023-04-01 2024-03-31 10117420 frs-core:PlantMachinery 2023-03-31 10117420 frs-core:ShareCapital 2024-03-31 10117420 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10117420 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10117420 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10117420 frs-bus:SmallEntities 2023-04-01 2024-03-31 10117420 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10117420 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10117420 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10117420 frs-bus:OrdinaryShareClass1 2024-03-31 10117420 frs-bus:OrdinaryShareClass3 2023-04-01 2024-03-31 10117420 frs-bus:OrdinaryShareClass3 2024-03-31 10117420 1 2023-04-01 2024-03-31 10117420 frs-bus:Director1 2023-04-01 2024-03-31 10117420 frs-core:CurrentFinancialInstruments 2 2024-03-31 10117420 frs-core:CurrentFinancialInstruments 4 2024-03-31 10117420 frs-core:CurrentFinancialInstruments 5 2024-03-31 10117420 frs-countries:EnglandWales 2023-04-01 2024-03-31 10117420 2022-03-31 10117420 2023-03-31 10117420 2022-04-01 2023-03-31 10117420 frs-core:CurrentFinancialInstruments 2023-03-31 10117420 frs-core:Non-currentFinancialInstruments 2023-03-31 10117420 frs-core:BetweenOneFiveYears 2023-03-31 10117420 frs-core:ShareCapital 2023-03-31 10117420 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10117420 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10117420 frs-bus:OrdinaryShareClass3 2022-04-01 2023-03-31 10117420 frs-core:CurrentFinancialInstruments 2 2023-03-31 10117420 frs-core:CurrentFinancialInstruments 4 2023-03-31 10117420 frs-core:CurrentFinancialInstruments 5 2023-03-31
Registered number: 10117420
Three Parks Development Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10117420
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 130,386 156,552
130,386 156,552
CURRENT ASSETS
Stocks 5 10,000 10,000
Debtors 6 30,371 22,687
Cash at bank and in hand 1,324 14,472
41,695 47,159
Creditors: Amounts Falling Due Within One Year 7 (364,184 ) (157,055 )
NET CURRENT ASSETS (LIABILITIES) (322,489 ) (109,896 )
TOTAL ASSETS LESS CURRENT LIABILITIES (192,103 ) 46,656
Creditors: Amounts Falling Due After More Than One Year 8 (48,000 ) (54,068 )
NET LIABILITIES (240,103 ) (7,412 )
CAPITAL AND RESERVES
Called up share capital 10 300,000 300,000
Profit and Loss Account (540,103 ) (307,412 )
SHAREHOLDERS' FUNDS (240,103) (7,412)
Page 1
Page 2
For the year ending 31 March 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 Jae Seon Park
Director
28th February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Three Parks Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10117420 . The registered office is 1st Floor, 60 High Street, New Malden, KT3 4EZ.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. 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:
Leasehold Nil
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 7)
12 7
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 25,000 22,811 37,044 177,774
As at 31 March 2024 25,000 22,811 37,044 177,774
Depreciation
As at 1 April 2023 - 16,066 19,816 73,076
Provided during the period - 1,349 3,446 20,939
As at 31 March 2024 - 17,415 23,262 94,015
Net Book Value
As at 31 March 2024 25,000 5,396 13,782 83,759
As at 1 April 2023 25,000 6,745 17,228 104,698
Computer Equipment Total
£ £
Cost
As at 1 April 2023 2,881 265,510
As at 31 March 2024 2,881 265,510
Depreciation
As at 1 April 2023 - 108,958
Provided during the period 432 26,166
As at 31 March 2024 432 135,124
Net Book Value
As at 31 March 2024 2,449 130,386
As at 1 April 2023 2,881 156,552
5. Stocks
2024 2023
£ £
Stock 10,000 10,000
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,363 13,338
Prepayments and accrued income 300 -
Rent Deposit Account - 2,000
J Leo Svue Account 397 500
HP Finance Interest 6,311 6,849
30,371 22,687
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 6,053
Bank loans and overdrafts 78,763 9,446
Corporation tax (113 ) (113 )
Other taxes and social security 44,247 37,023
VAT 133,334 74,911
Net wages 12,012 1,759
Pension Payable 10,316 3,282
Tentant Rent Deposit Account 900 -
Accruals and deferred income 9,065 3,224
Director's loan account 75,660 21,470
364,184 157,055
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,400 13,543
Bank loans 37,600 40,525
48,000 54,068
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 10,400 13,543
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10,000 Ordinary Shares of £ 1.000 each 10,000 10,000
290,000 Ordinary B shares of £ 1.000 each 290,000 290,000
300,000 300,000
Page 5
Page 6
11. Related Party Transactions
Included in fixed assets additions is the company's estimate of internal work carried out to the company's premises.
12. Ultimate Controlling Party
The company's ultimate controlling party are Jae Seon PARK 70%, Ji Yeon CHANG 10% , Ji Hyeong CHANG 10%, Jae Hun CHANG 10% by virtue of their ownership of 100% of the issued share capital in the company. The ordinary class B shares of £240,000 relates to Natural Herb Solution UK Ltd.
Page 6