Acorah Software Products - Accounts Production 16.1.300 false true true 24 June 2023 25 June 2022 false 25 June 2023 24 June 2024 24 June 2024 02261701 Mr Michael Douglas Mr Laurence Adams Mrs Rachel Rogan Mr Laurence Adams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02261701 2023-06-24 02261701 2024-06-24 02261701 2023-06-25 2024-06-24 02261701 frs-core:ComputerEquipment 2023-06-25 2024-06-24 02261701 frs-core:FurnitureFittings 2023-06-25 2024-06-24 02261701 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-25 2024-06-24 02261701 frs-core:MotorVehicles 2023-06-25 2024-06-24 02261701 frs-core:RevaluationReserve 2024-06-24 02261701 frs-core:ShareCapital 2024-06-24 02261701 frs-core:RetainedEarningsAccumulatedLosses 2024-06-24 02261701 frs-bus:PrivateLimitedCompanyLtd 2023-06-25 2024-06-24 02261701 frs-bus:AbridgedAccounts 2023-06-25 2024-06-24 02261701 frs-bus:SmallEntities 2023-06-25 2024-06-24 02261701 frs-bus:AuditExempt-NoAccountantsReport 2023-06-25 2024-06-24 02261701 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-25 2024-06-24 02261701 frs-bus:OrdinaryShareClass1 2023-06-25 2024-06-24 02261701 frs-bus:OrdinaryShareClass1 2024-06-24 02261701 frs-bus:Director1 2023-06-25 2024-06-24 02261701 frs-bus:Director2 2023-06-25 2024-06-24 02261701 frs-bus:CompanySecretary1 2023-06-25 2024-06-24 02261701 frs-bus:CompanySecretary2 2023-06-25 2024-06-24 02261701 frs-countries:EnglandWales 2023-06-25 2024-06-24 02261701 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-06-24 02261701 2022-06-24 02261701 2023-06-24 02261701 2022-06-25 2023-06-24 02261701 frs-core:RevaluationReserve 2023-06-24 02261701 frs-core:ShareCapital 2023-06-24 02261701 frs-core:RetainedEarningsAccumulatedLosses 2023-06-24 02261701 frs-bus:OrdinaryShareClass1 2022-06-25 2023-06-24
Registered number: 02261701
M.W. Douglas (Property Investment) Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 24 June 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 02261701
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 799,819 809,172
799,819 809,172
CURRENT ASSETS
Debtors 227,584 203,385
Cash at bank and in hand 9,486 4,343
237,070 207,728
Creditors: Amounts Falling Due Within One Year (34,160 ) (6,987 )
NET CURRENT ASSETS (LIABILITIES) 202,910 200,741
TOTAL ASSETS LESS CURRENT LIABILITIES 1,002,729 1,009,913
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,003 ) (3,463 )
NET ASSETS 999,726 1,006,450
CAPITAL AND RESERVES
Called up share capital 6 10,000 10,000
Revaluation reserve 633,280 633,280
Profit and Loss Account 356,446 363,170
SHAREHOLDERS' FUNDS 999,726 1,006,450
Page 1
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For the year ending 24 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 24 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Laurence Adams
Director
22 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
M.W. Douglas (Property Investment) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02261701 . The registered office is Park Farm Rag Hill Road, Tatsfield, Nr Westerham, Kent, TN16 2LR.
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. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
estimates and associated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
2.4. 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.
2.5. 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:
Freehold 2.00% on cost
Motor Vehicles 25.00% reducing balance
Fixtures & Fittings 15.00% reducing balance
Computer Equipment 33.33% on cost
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other
Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a
legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price
including transaction costs and are subsequently carried at amortised cost using the effective interest method unless
the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the
future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not
amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after
deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that
are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not,
they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and
subsequently measured at amortised cost using the effective interest method.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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.
2.9. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks,
other short-term highly liquid investments that mature in no more than three months from the date of acquisition and
are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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2.10. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required
to be recognised as part of the cost of stock of fixed assets.
2.11. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends
payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Total
£
Cost
As at 25 June 2023 1,023,233
Additions 384
As at 24 June 2024 1,023,617
Depreciation
As at 25 June 2023 214,061
Provided during the period 9,737
As at 24 June 2024 223,798
Net Book Value
As at 24 June 2024 799,819
As at 25 June 2023 809,172
5. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Other loans - 3,382
6. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000,000 Ordinary Shares of £ 0.01 each 10,000 10,000
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