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 06929090 Mr D A Tosar Mrs N A Tosar Mr A S Tosar Mr D A Tosar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06929090 2023-06-30 06929090 2024-06-30 06929090 2023-07-01 2024-06-30 06929090 frs-core:CurrentFinancialInstruments 2024-06-30 06929090 frs-core:Non-currentFinancialInstruments 2024-06-30 06929090 frs-core:FurnitureFittings 2024-06-30 06929090 frs-core:FurnitureFittings 2023-07-01 2024-06-30 06929090 frs-core:FurnitureFittings 2023-06-30 06929090 frs-core:ShareCapital 2024-06-30 06929090 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06929090 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06929090 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 06929090 frs-bus:SmallEntities 2023-07-01 2024-06-30 06929090 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06929090 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06929090 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-06-30 06929090 frs-bus:Director1 2023-07-01 2024-06-30 06929090 frs-bus:Director2 2023-07-01 2024-06-30 06929090 frs-bus:Director3 2023-07-01 2024-06-30 06929090 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 06929090 frs-countries:EnglandWales 2023-07-01 2024-06-30 06929090 2022-06-30 06929090 2023-06-30 06929090 2022-07-01 2023-06-30 06929090 frs-core:CurrentFinancialInstruments 2023-06-30 06929090 frs-core:Non-currentFinancialInstruments 2023-06-30 06929090 frs-core:ShareCapital 2023-06-30 06929090 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 06929090 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-30
Registered number: 06929090
Spectrum Investments (UK) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Affinity Associates (Flemmings) Limited
Accountants and Statutory Auditors
76 Canterbury Road
Croydon
Surrey
CR0 3HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06929090
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 4,000,000 4,000,000
4,000,000 4,000,000
CURRENT ASSETS
Debtors 6 27,993 139,686
Cash at bank and in hand 123,206 24,868
151,199 164,554
Creditors: Amounts Falling Due Within One Year 7 (434,044 ) (424,152 )
NET CURRENT ASSETS (LIABILITIES) (282,845 ) (259,598 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,717,155 3,740,402
Creditors: Amounts Falling Due After More Than One Year 8 (1,331,841 ) (1,438,922 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (400,423 ) (424,448 )
NET ASSETS 1,984,891 1,877,032
CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 1,177,243 1,177,243
Profit and Loss Account 807,548 699,689
SHAREHOLDERS' FUNDS 1,984,891 1,877,032
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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
Mr A S Tosar
Director
22 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Spectrum Investments (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06929090 . The registered office is 76 Canterbury Road, Croydon, Surrey, CR0 3HA.
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.
The financial statements are presented in Pound Sterling, which is the functional currency of the company. 
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. 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:
Fixtures & Fittings 25% Straight Line Method
2.4. 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.
2.5. 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 July 2023 46,027
As at 30 June 2024 46,027
Depreciation
As at 1 July 2023 46,027
As at 30 June 2024 46,027
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 4,000,000
The investment properties were revalued in August 2019 by an independent professionally qualified valuer. This valuation has been used by the directors as a reasonable estimate of the fair value as at 30 June 2024 on the basis that they are not aware of any material changes to that valuation.
The historic cost of the investment properties including improvements costs were £2,398,309 (2023 - £2,398,309). The depreciation on this historical cost is £nil (2023 - £nil).
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 26,755 27,350
Prepayments and accrued income 165 154
Other debtors 902 4,760
Other taxes and social security 171 -
Directors' loan accounts - 107,422
27,993 139,686
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 598 460
Bank loans and overdrafts 105,657 105,657
Corporation tax 25,315 17,360
VAT 20,482 7,848
Net wages - 2,096
Other creditors 55,000 89,325
Accruals and deferred income 225,138 201,406
Directors' loan accounts 1,854 -
434,044 424,152
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,058,841 1,148,922
Other loans 273,000 290,000
1,331,841 1,438,922
9. Secured Creditors
The other borrowings of £273,000 has been secured by way of a second charge over the Company's investment property.
The bank borrowings is secured by way of first legal charges over the Company's investment property and a debenture over the Company's assets.
10. Related Party Transactions
Other transactions with directors
Mr A S Tosar, Mrs N A Tosar and Mr D A Tosar
(Directors and Shareholders)
At the balance sheet date the amount due to / (from) Mr A S Tosar and Mrs N A Tosar was £1,854 (2023 -
£107,422)).
Summary of transactions with other related parties
Rainbow Pharmacy Limited
Mr A S Tosar and Mrs N A Tosar are directors and shareholders of Rainbow Pharmacy Limited while Mr D A
Tosar is shareholder of Rainbow Pharmacy Limited.
At the balance sheet date the company owed £55,000 to Rainbow Pharmacy Limited (2023 - £89,325). The loan
is interest free and repayable on demand.
Regal Properties Limited
Mr A S Tosar and Mrs N A Tosar are directors and sole shareholders in Regal Properties Limited.
At the balance sheet date the company owed £273,000 to Regal Properties Limited (2023 - £290,000). The loan carries interest of 1.5% above the Bank of England base rate per annum. The loan is repayable on 10 June 2024.
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