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Registered number: 11423463
Kenzoku Lettings Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Aylsham
Norfolk
NR11 6FD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11423463
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 495,000 500,000
495,000 500,000
CURRENT ASSETS
Debtors 5 79,055 83,884
Cash at bank and in hand 101 101
79,156 83,985
Creditors: Amounts Falling Due Within One Year 6 (25,385 ) (26,718 )
NET CURRENT ASSETS (LIABILITIES) 53,771 57,267
TOTAL ASSETS LESS CURRENT LIABILITIES 548,771 557,267
Creditors: Amounts Falling Due After More Than One Year 7 (394,267 ) (396,281 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (37,847 ) (38,797 )
NET ASSETS 116,657 122,189
CAPITAL AND RESERVES
Called up share capital 9 4 4
Fair value reserve 10 161,346 165,396
Profit and Loss Account (44,693 ) (43,211 )
SHAREHOLDERS' FUNDS 116,657 122,189
Page 1
Page 2
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 N Thompson
Director
Mr D J Cosford
Director
21 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kenzoku Lettings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11423463 . The registered office is Unit 5 Caston Industrial Estate, 177 Salhouse Road, Norwich, Norfolk, NR7 9AQ.  The presentation currency of the financial statements is the Pound Sterling (£).
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.
2.3. 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.
2.4. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
Page 3
Page 4
4. Investment Property
2024
£
Fair Value
As at 1 July 2023 500,000
Fair value adjustments (5,000 )
As at 30 June 2024 495,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 295,807 295,807
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 40 40
Prepayments and accrued income - 1,200
Other debtors 840 840
Directors' loan accounts - 589
Amounts owed by associates 78,175 81,215
79,055 83,884
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 750
Bank loans and overdrafts 9,086 12,068
Accruals and deferred income 1,428 1,440
Directors' loan accounts 10,871 10,460
Amounts owed to associates 4,000 2,000
25,385 26,718
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 394,267 396,281
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 368,482 374,059
Page 4
Page 5
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 363,411 363,411
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
10. Reserves
Fair Value Reserve
£
As at 1 July 2023 165,396
Movements in fair value reserve (4,050)
As at 30 June 2024 161,346
Page 5