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 09942112 Michelle Rothwell Thomas Rothwell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09942112 2023-06-30 09942112 2024-06-30 09942112 2023-07-01 2024-06-30 09942112 frs-core:CurrentFinancialInstruments 2024-06-30 09942112 frs-core:BetweenOneFiveYears 2024-06-30 09942112 frs-core:ComputerEquipment 2024-06-30 09942112 frs-core:ComputerEquipment 2023-07-01 2024-06-30 09942112 frs-core:ComputerEquipment 2023-06-30 09942112 frs-core:FurnitureFittings 2024-06-30 09942112 frs-core:FurnitureFittings 2023-07-01 2024-06-30 09942112 frs-core:FurnitureFittings 2023-06-30 09942112 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 09942112 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 09942112 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 09942112 frs-core:MoreThanFiveYears 2024-06-30 09942112 frs-core:WithinOneYear 2024-06-30 09942112 frs-core:ShareCapital 2024-06-30 09942112 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 09942112 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09942112 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 09942112 frs-bus:SmallEntities 2023-07-01 2024-06-30 09942112 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09942112 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09942112 frs-bus:Director1 2023-07-01 2024-06-30 09942112 frs-bus:Director1 2023-06-30 09942112 frs-bus:Director1 2024-06-30 09942112 frs-bus:Director2 2023-07-01 2024-06-30 09942112 frs-countries:EnglandWales 2023-07-01 2024-06-30 09942112 2022-03-31 09942112 2023-06-30 09942112 2022-04-01 2023-06-30 09942112 frs-core:CurrentFinancialInstruments 2023-06-30 09942112 frs-core:BetweenOneFiveYears 2023-06-30 09942112 frs-core:MoreThanFiveYears 2023-06-30 09942112 frs-core:WithinOneYear 2023-06-30 09942112 frs-core:ShareCapital 2023-06-30 09942112 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 09942112
Watch This Space Property Ltd
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—7
Page 1
Balance Sheet
Registered number: 09942112
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 284,518 314,133
284,518 314,133
CURRENT ASSETS
Debtors 5 2,963,388 3,524,541
Cash at bank and in hand 373,971 60,950
3,337,359 3,585,491
Creditors: Amounts Falling Due Within One Year 6 (3,405,421 ) (3,682,589 )
NET CURRENT ASSETS (LIABILITIES) (68,062 ) (97,098 )
TOTAL ASSETS LESS CURRENT LIABILITIES 216,456 217,035
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,574 ) (35,923 )
NET ASSETS 185,882 181,112
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 185,782 181,012
SHAREHOLDERS' FUNDS 185,882 181,112
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
Michelle Rothwell
Director
26th March 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Watch This Space Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09942112 . 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 directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 
2.3. 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.
2.4. 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:
Leasehold straight line over the lease of the lease
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. 
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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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 liabilites are offset, with the net amounts presented in the financial statements, when there is a legally enforcable 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 intially 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 trasnsaction, 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. 
...CONTINUED
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2.6. Financial Instruments - continued
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. 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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2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. 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: 2 (2023: 3)
2 3
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 427,590 49,325 17,846 494,761
Additions - 1,678 1,953 3,631
As at 30 June 2024 427,590 51,003 19,799 498,392
Depreciation
As at 1 July 2023 123,232 47,103 10,293 180,628
Provided during the period 25,655 2,641 4,950 33,246
As at 30 June 2024 148,887 49,744 15,243 213,874
Net Book Value
As at 30 June 2024 278,703 1,259 4,556 284,518
As at 1 July 2023 304,358 2,222 7,553 314,133
5. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 22,958 38,625
Amounts owed by group undertakings 2,418,770 3,485,916
Other debtors 521,660 -
2,963,388 3,524,541
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6. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors 17,633 4,683
Other loans 3,032,500 3,032,500
Amounts owed to participating interests - 271,848
Other creditors 338,402 351,335
Taxation and social security 16,886 22,223
3,405,421 3,682,589
7. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 100 100
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
30 June 2024 30 June 2023
£ £
Not later than one year 55,800 46,471
Later than one year and not later than five years 223,200 185,884
Later than five years 427,986 403,470
706,986 635,825
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mrs Michelle Rothwell 234,178 2,385,622 2,159,910 - 459,890
Interest was charged by the company at the HMRC rate for beneficial loans, being 2.25% for the period. The above loan is unsecured and repayable on demand.
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