Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 08324431 Mr Philip Worrall Mrs Sharon Worrall iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08324431 2023-12-31 08324431 2024-12-31 08324431 2024-01-01 2024-12-31 08324431 frs-core:CurrentFinancialInstruments 2024-12-31 08324431 frs-core:Non-currentFinancialInstruments 2024-12-31 08324431 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 08324431 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08324431 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 08324431 frs-core:ShareCapital 2024-12-31 08324431 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08324431 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08324431 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08324431 frs-bus:SmallEntities 2024-01-01 2024-12-31 08324431 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08324431 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08324431 frs-bus:Director1 2024-01-01 2024-12-31 08324431 frs-bus:Director2 2024-01-01 2024-12-31 08324431 frs-core:Non-currentFinancialInstruments 1 2024-12-31 08324431 frs-countries:EnglandWales 2024-01-01 2024-12-31 08324431 2022-12-31 08324431 2023-12-31 08324431 2023-01-01 2023-12-31 08324431 frs-core:CurrentFinancialInstruments 2023-12-31 08324431 frs-core:Non-currentFinancialInstruments 2023-12-31 08324431 frs-core:ShareCapital 2023-12-31 08324431 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08324431 frs-core:Non-currentFinancialInstruments 1 2023-12-31
Registered number: 08324431
Worrall Property Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
BCS Accountants & Tax Consultants
60 Main Road
Bolton Le Sands
Carnforth
Lancashire
LA5 8DN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08324431
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,199,000 2,162,000
2,199,000 2,162,000
CURRENT ASSETS
Debtors 5 52,125 1,515
Cash at bank and in hand 111,522 238,605
163,647 240,120
Creditors: Amounts Falling Due Within One Year 6 (37,494 ) (37,972 )
NET CURRENT ASSETS (LIABILITIES) 126,153 202,148
TOTAL ASSETS LESS CURRENT LIABILITIES 2,325,153 2,364,148
Creditors: Amounts Falling Due After More Than One Year 7 (1,065,257 ) (1,206,152 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (169,188 ) (159,829 )
NET ASSETS 1,090,708 998,167
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 1,089,708 997,167
SHAREHOLDERS' FUNDS 1,090,708 998,167
Page 1
Page 2
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
Mr Philip Worrall
Director
06/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Worrall Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08324431 . The registered office is 60 Main Road, Bolton le Sands, Lancashire, LA5 8DN.
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
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.
2.4. 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: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 January 2024 2,162,000
Additions 167,000
Disposals (130,000 )
As at 31 December 2024 2,199,000
Net Book Value
As at 31 December 2024 2,199,000
As at 1 January 2024 2,162,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,665 1,030
Prepayments and accrued income 460 485
2,125 1,515
Due after more than one year
Lune Valley Ltd Loan 50,000 -
52,125 1,515
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 454 825
Corporation tax 12,735 12,897
Accruals and deferred income 945 890
Directors' loan accounts 23,360 23,360
37,494 37,972
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 1,065,257 1,206,152
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4