Acorah Software Products - Accounts Production 16.1.300 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10869447 Mr Andrew Gray Mrs Sarah Gray true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10869447 2023-07-31 10869447 2024-07-31 10869447 2023-08-01 2024-07-31 10869447 frs-core:CurrentFinancialInstruments 2024-07-31 10869447 frs-core:Non-currentFinancialInstruments 2024-07-31 10869447 frs-core:ComputerEquipment 2024-07-31 10869447 frs-core:ComputerEquipment 2023-08-01 2024-07-31 10869447 frs-core:ComputerEquipment 2023-07-31 10869447 frs-core:ShareCapital 2024-07-31 10869447 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10869447 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10869447 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10869447 frs-bus:SmallEntities 2023-08-01 2024-07-31 10869447 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10869447 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10869447 1 2023-08-01 2024-07-31 10869447 frs-bus:Director1 2023-08-01 2024-07-31 10869447 frs-bus:Director2 2023-08-01 2024-07-31 10869447 frs-countries:EnglandWales 2023-08-01 2024-07-31 10869447 2022-07-31 10869447 2023-07-31 10869447 2022-08-01 2023-07-31 10869447 frs-core:CurrentFinancialInstruments 2023-07-31 10869447 frs-core:Non-currentFinancialInstruments 2023-07-31 10869447 frs-core:ShareCapital 2023-07-31 10869447 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 10869447
Altitude Enterprises Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10869447
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 288 360
Investment Properties 5 815,423 697,124
815,711 697,484
CURRENT ASSETS
Cash at bank and in hand 4,300 1,398
4,300 1,398
Creditors: Amounts Falling Due Within One Year 6 (381,335 ) (325,952 )
NET CURRENT ASSETS (LIABILITIES) (377,035 ) (324,554 )
TOTAL ASSETS LESS CURRENT LIABILITIES 438,676 372,930
Creditors: Amounts Falling Due After More Than One Year 7 (512,309 ) (403,710 )
NET LIABILITIES (73,633 ) (30,780 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (73,635 ) (30,782 )
SHAREHOLDERS' FUNDS (73,633) (30,780)
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For the year ending 31 July 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 Andrew Gray
Director
21/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Altitude Enterprises Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10869447 . The registered office is 56 Jessops Lane, Gedling, Nottingham, NG4 4BQ.
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.
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. 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.
2.4. 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:
Computer Equipment 20% on a reducing balance basis
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2023 400
As at 31 July 2024 400
Depreciation
As at 1 August 2023 40
Provided during the period 72
As at 31 July 2024 112
...CONTINUED
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Net Book Value
As at 31 July 2024 288
As at 1 August 2023 360
5. Investment Property
2024
£
Fair Value
As at 1 August 2023 697,124
Additions 118,299
As at 31 July 2024 815,423
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Directors' loan accounts 237,385 218,503
Amounts owed to associates 143,950 107,449
381,335 325,952
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 512,309 403,710
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured against the investment property owned by the company.
2024 2023
£ £
Bank loans and overdrafts 472,342 403,710
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
At the year end, the company owed £143,949 (2023: £107,449) to Altitude Audio Visual Ltd, a company registered & incorporated in England & Wales. The directors Sarah Gray & Andrew Gray are also directors of Altitude Audio Visual Ltd. The amount is loaned interest-free and is repayable on demand.
11. Ultimate Controlling Party
There is no ultimate controlling party due to no shareholding owning more than 50% of the total issued share capital in the company.
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