Acorah Software Products - Accounts Production 16.1.300 false true true 30 June 2023 1 April 2022 false 1 July 2023 30 June 2024 30 June 2024 10137858 Michelle Rothwell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10137858 2023-06-30 10137858 2024-06-30 10137858 2023-07-01 2024-06-30 10137858 frs-core:CurrentFinancialInstruments 2024-06-30 10137858 frs-core:RevaluationReserve 2023-06-30 10137858 frs-core:RevaluationReserve 2024-06-30 10137858 frs-core:ShareCapital 2024-06-30 10137858 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10137858 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10137858 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10137858 frs-bus:SmallEntities 2023-07-01 2024-06-30 10137858 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10137858 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10137858 frs-core:CostValuation 2023-06-30 10137858 frs-core:CostValuation 2024-06-30 10137858 frs-core:ProvisionsForImpairmentInvestments 2023-06-30 10137858 frs-core:ProvisionsForImpairmentInvestments 2024-06-30 10137858 frs-bus:Director1 2023-07-01 2024-06-30 10137858 frs-countries:EnglandWales 2023-07-01 2024-06-30 10137858 2022-03-31 10137858 2023-06-30 10137858 2022-04-01 2023-06-30 10137858 frs-core:CurrentFinancialInstruments 2023-06-30 10137858 frs-core:RevaluationReserve 2023-06-30 10137858 frs-core:ShareCapital 2023-06-30 10137858 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 10137858
Watch This Space (Red Panda) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Master of Coin Ltd
Chartered Certified Accountants
107 - 109 Towngate
Leyland
Lancashire
PR25 2LQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10137858
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,400,000 1,400,000
Investments 5 104 104
1,400,104 1,400,104
CURRENT ASSETS
Debtors 6 35,803 601,167
Cash at bank and in hand 173,273 75,740
209,076 676,907
Creditors: Amounts Falling Due Within One Year 7 (1,036,448 ) (1,511,400 )
NET CURRENT ASSETS (LIABILITIES) (827,372 ) (834,493 )
TOTAL ASSETS LESS CURRENT LIABILITIES 572,732 565,611
PROVISIONS FOR LIABILITIES
Deferred Taxation (125,056 ) (123,505 )
NET ASSETS 447,676 442,106
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 414,386 414,386
Profit and Loss Account 33,190 27,620
SHAREHOLDERS' FUNDS 447,676 442,106
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Michelle Rothwell
Director
26th March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Watch This Space (Red Panda) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10137858 . The registered office is This Is The Space , 68 Quay Street , Manchester , M3 3EJ.
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
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operation existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. 
2.3. Turnover
Turnover is measured at the fair value of amounts receivable, net of discounts and value added taxes for rental income and other services. Rental income is recognised on a straight-line basis over the term of the lease.
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. 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
...CONTINUED
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2.5. Financial Instruments - continued
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. 
2.6. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.7. 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: 1 (2023: 1)
1 1
4. Investment Property
30 June 2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 1,400,000
5. Investments
Subsidiaries
£
Cost
As at 1 July 2023 104
As at 30 June 2024 104
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 104
As at 1 July 2023 104
6. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 28,981 1,604
Amounts owed by group undertakings - 594,400
Other debtors 6,822 5,163
35,803 601,167
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7. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors 5,227 680
Bank loans and overdrafts - 32,386
Other creditors 1,022,696 1,470,163
Taxation and social security 8,525 8,171
1,036,448 1,511,400
8. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Revaluation Reserve
£
As at 1 July 2023 414,386
As at 30 June 2024 414,386
10. Related Party Transactions
The company has taken advantage of the exemption permitted under Section 1AC.35 from disclosing transactions with the parent company. 
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