Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 13435420 Mr P K Sharma Mrs S R Sharma iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13435420 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-06-30 13435420 2023-06-30 13435420 2024-06-30 13435420 2023-07-01 2024-06-30 13435420 frs-core:CurrentFinancialInstruments 2024-06-30 13435420 frs-core:Non-currentFinancialInstruments 2024-06-30 13435420 frs-core:ShareCapital 2024-06-30 13435420 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 13435420 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13435420 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 13435420 frs-bus:SmallEntities 2023-07-01 2024-06-30 13435420 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 13435420 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 13435420 frs-bus:Director1 2023-07-01 2024-06-30 13435420 frs-bus:Director2 2023-07-01 2024-06-30 13435420 frs-countries:EnglandWales 2023-07-01 2024-06-30 13435420 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-06-30 13435420 2022-06-30 13435420 2023-06-30 13435420 2022-07-01 2023-06-30 13435420 frs-core:CurrentFinancialInstruments 2023-06-30 13435420 frs-core:Non-currentFinancialInstruments 2023-06-30 13435420 frs-core:ShareCapital 2023-06-30 13435420 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 13435420
PS Portfolio 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: 13435420
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 120,000 120,000
120,000 120,000
CURRENT ASSETS
Cash at bank and in hand 1,699 1,165
1,699 1,165
Creditors: Amounts Falling Due Within One Year 5 (32,871 ) (33,478 )
NET CURRENT ASSETS (LIABILITIES) (31,172 ) (32,313 )
TOTAL ASSETS LESS CURRENT LIABILITIES 88,828 87,687
Creditors: Amounts Falling Due After More Than One Year 6 (56,241 ) (57,951 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,173 ) (5,631 )
NET ASSETS 26,414 24,105
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 26,314 24,005
SHAREHOLDERS' FUNDS 26,414 24,105
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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
Mrs S R Sharma
Director
24 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
PS Portfolio Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13435420 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
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. Investment Properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
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.
2.4. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.5. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 120,000
The directors have valued the investment properties on an open market basis as at the reporting date, which they consider accurately reflects their fair value.
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 215
Bank loans and overdrafts 1,586 1,464
Other creditors 2,317 -
Accruals and deferred income - 1,981
Directors' loan accounts 28,968 29,818
32,871 33,478
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 56,241 57,951
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 49,896 52,097
7. Secured Creditors
The loan below is secured against the property (35 Catherine Street) held within the company.
2024 2023
£ £
Bank loans and overdrafts 57,828 59,415
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
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10. Reserves
The profit and loss reserve account records retained earnings and accumulated losses, including the revaluation reserve which records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. The profit and loss reserve account includes both distributable and non distributable as follows:
Profit and (loss) distributable
As at 30/06/2024 (£1,201)
As at 30/06/2023 (£3,510)
Profit and loss non-distributable
As at 30/06/2024 £27,515
As at 30/06/2023 £27,515
11. Related Party Transactions
The following related party transactions where undertaken during the year:
The directors of the company introduced amounts totalling £150 (2023: £322) and withdrew amounts totalling £1,000 (2023: £Nil). The amount payable to the director's at the year end was £28,968 (2023:£29,818).
A company under common control loaned amounts totalling £2,316 (2023 £Nil). The amount payable to the company under common control at the balance sheet date is £2,316 (2023: £Nil).
No dividends were paid to the directors in respect of their shareholders. (2023: £Nil).
No further transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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