Acorah Software Products - Accounts Production 16.2.850 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 3033270 Mr Robert Wike Robert J R Wike true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 3033270 2023-12-31 3033270 2024-12-31 3033270 2024-01-01 2024-12-31 3033270 frs-core:CurrentFinancialInstruments 2024-12-31 3033270 frs-core:FurnitureFittings 2024-12-31 3033270 frs-core:FurnitureFittings 2024-01-01 2024-12-31 3033270 frs-core:FurnitureFittings 2023-12-31 3033270 frs-core:InvestmentPropertyIncludedWithinPPE 2024-12-31 3033270 frs-core:InvestmentPropertyIncludedWithinPPE 2024-01-01 2024-12-31 3033270 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-31 3033270 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 3033270 frs-core:RevaluationReserve 2023-12-31 3033270 frs-core:RevaluationReserve 2024-12-31 3033270 frs-core:ShareCapital 2024-12-31 3033270 frs-core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 3033270 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 3033270 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 3033270 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 3033270 frs-bus:SmallEntities 2024-01-01 2024-12-31 3033270 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 3033270 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 3033270 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 3033270 frs-bus:OrdinaryShareClass1 2024-12-31 3033270 frs-bus:OrdinaryShareClass2 2024-01-01 2024-12-31 3033270 frs-bus:OrdinaryShareClass2 2024-12-31 3033270 1 2024-01-01 2024-12-31 3033270 frs-core:DeferredTaxation 2023-12-31 3033270 frs-core:DeferredTaxation 2024-12-31 3033270 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 3033270 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 3033270 frs-bus:Director1 2024-01-01 2024-12-31 3033270 frs-countries:EnglandWales 2024-01-01 2024-12-31 3033270 2022-12-31 3033270 2023-12-31 3033270 2023-01-01 2023-12-31 3033270 frs-core:CurrentFinancialInstruments 2023-12-31 3033270 frs-core:RevaluationReserve 2022-12-31 3033270 frs-core:RevaluationReserve 2023-12-31 3033270 frs-core:ShareCapital 2022-12-31 3033270 frs-core:ShareCapital 2023-12-31 3033270 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 3033270 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-12-31 3033270 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 3033270 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 3033270 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 3033270 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 3033270 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31
Registered number: 3033270
Chiefplayer Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—12
Page 1
Balance Sheet
Registered number: 3033270
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 885,165 884,606
885,165 884,606
CURRENT ASSETS
Debtors 5 1,729 1,444
Cash at bank and in hand 5,342 2,424
7,071 3,868
Creditors: Amounts Falling Due Within One Year 6 (243,632 ) (236,809 )
NET CURRENT ASSETS (LIABILITIES) (236,561 ) (232,941 )
TOTAL ASSETS LESS CURRENT LIABILITIES 648,604 651,665
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (60,910 ) (60,910 )
NET ASSETS 587,694 590,755
CAPITAL AND RESERVES
Called up share capital 10 40,100 40,100
Revaluation reserve 14 367,267 367,267
Fair value reserve 14 153,090 153,090
Profit and Loss Account 27,237 30,298
SHAREHOLDERS' FUNDS 587,694 590,755
Page 1
Page 2
For the year ending 31 December 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 his 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.
The financial statements were approved by the board of directors on 31 March 2025 and were signed on its behalf by:
Mr Robert Wike
Director
31st March 2025
The notes on pages 4 to 12 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Revaluation reserve Fair value reserve Profit and Loss Account Total
£ £ £ £ £
As at 1 January 2023 40,100 367,267 153,090 59,496 619,953
Profit for the year and total comprehensive income - - - 9,802 9,802
Dividends paid - - - (39,000) (39,000)
As at 31 December 2023 and 1 January 2024 40,100 367,267 153,090 30,298 590,755
Profit for the year and total comprehensive income - - - 26,939 26,939
Dividends paid - - - (30,000) (30,000)
As at 31 December 2024 40,100 367,267 153,090 27,237 587,694
REVALUATION RESERVE
£392,267 - Revaluation based on 11 January 2006 Chartered Surveyors report.
(£25,000) - Less: Deferred Tax after utilising HMRC Indexing Allowance (cessation of Indexing in December 2017)
------------
£367,267 - Balance as at 31 December 2024 (Note 15).
-----------
FAIR VALUE RESERVE
£153,090 - Fair Value Reserve Balance at 1 January 2024
£           0 - 2024 Increase in Fair Value Reserve
£ 0 - Less: Deferred Tax at 19% based on the increase in fair value (Note 9)
------------
£153,090 - Fair Value Balance as at 31 December 2024 (Note 15).
----------
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Chiefplayer Limited is a private company, limited by shares, incorporated on 15th March 1995 in England & Wales, registered number 3033270
The registered office is 1 Howard Road, Westbury Park, Bristol, BS6 7US.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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 comprises the Investment Property Rental Income received.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Freehold At cost or valuation
Fixtures & Fittings 25% of the Written Down Value
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.

Investment properties shall be included in the balance sheet at their market value.
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 year 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 asset reflects 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.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 881,026 64,368 945,394
Additions 40 1,849 1,889
As at 31 December 2024 881,066 66,217 947,283
Depreciation
As at 1 January 2024 - 60,788 60,788
Provided during the period - 1,330 1,330
As at 31 December 2024 - 62,118 62,118
Net Book Value
As at 31 December 2024 881,066 4,099 885,165
As at 1 January 2024 881,026 3,580 884,606
INVESTMENT PROPERTY COST AND REVALUATION DETAILS
£288,919 - Purchases March 1995 to December 2017 (Qualifying for Indexation Allowances) (Note 9).
£ 10,880 - Purchases after December 2017 (Cessation of Indexation Allowances).
------------
£299,799 - Total Purchases at Cost as at December 2024.
£392,267 - Profesional Revaluation in 2006.
£189,000 - Fair Value Uplift (Note 15)
-----------
£881,066 - Total Investment Property Cost & Revaluation at 31 December 2024.
-----------
INVESTMENT PROPERTY REVALUATION BASIS
999 YEAR LEASEHOLD PROFESSIONAL VALUATION ON 11 JANUARY 2006
The company's Investment Properties were valued on 11th January 2006 by Chartered Surveyors, Peter Newman & Co, at the request of the company's bankers. The properties were valued at £645,000 as 999 year individual leaseholds.
HMRC LAND REGISTRY INDEXATION UPLIFT OF THE 11 JANUARY 2006 VALUATION 
HM Land Registry and the Office of National Statistics maintains a historic index of flats and maisonete prices at the web address below:-
landregistry.data.gov.uk/ukhpi.
The average price for flats and maisonettes in the South Gloucestershire location was £123,953 at the 2006 valuation date and their average price was £200,490 in Q4 2024. 
The 2006 valuation of £645,000, when uplifted by the HM Land Registry National Statistics price indices, would give a Q4 2024 extrapolated valuation of £1.048m (£645k x £200k/£123k) if sold as 999 year individual leaseholds.
FAIR VALUE OF INVESTMENT PROPERTIES (£900,000) BASED ON AN INVESTMENT GROSS YIELD OF 6.8% (2023 - 6.25%).
The investment properties (including the market rental value of the administrative office investment property), have been valued at an end of year investment rental gross yield of 6.8% (2023 - 6.25%), which is appropriate for the geographic location of the company properties.
This produces a valuation of £819k, which is an uplift of £520k above the 2006 historic cost (as adjusted for post 2006 additions at cost).
...CONTINUED
Page 5
Page 6
4. Tangible Assets - continued
The above investment yield valuation metric does not reflect the development potential of undeveloped property and land held in the rental property portfolio. 
CONCLUSION - In the opinion of the director, the investment properties are reported at a fair Balance Sheet investment value of £881,066 in December 2024.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,729 1,444
1,729 1,444
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,553 177
Corporation tax 6,631 2,727
Director's loan account 235,448 233,905
243,632 236,809
Corporation Tax:-
£6,631 - charge for the current year.
£     (0) - Interest debit/credit adjustment
----------
£6,631 - Net payable to HMRC in October 2025.
-----------
The directors loan account is interest free and unsecured.
Repayment of the Director's loan account will only be made when the company has sufficient working capital in order to satisfy its operating cash flow requirements.
DIRECTORS LOAN ACCOUNT : RECEIPTS AND PAYMENTS IN 2023
£233,905 - Director's loan account 1 January 2024 (Note 7). Increases / (Decreases) during the year were as follows:-
£          0  - New advances by the director to the company in 2024.
£ 30,000 - Dividend paid on 28/10/2024 and credited to the directors loan account.
£  3,228 - Company expenses paid by the director.
(£22,000) - Repayments to the director in 2024.
(£ 3,523) - Directors personal transactions in 2024.
(£6,162 ) - Rent contribution paid by the director to the connected person; Alexander Wike (Note 17).
-----------
£235,448 - Directors loan account 31 December 2024 (Note 7). 
-----------
_
Page 6
Page 7
7. Secured Creditors
There were no secured creditors on 31 December 2024.
8. Deferred Taxation
The provision for deferred taxation is made up of tax on investment properties, if they were sold at the Balance Sheet value, after adjusting for Indexation Allowances for the years 1995 to 2017 (the cessation of HMRC Indexation Allowances).
The deferred tax liability relates to tax at the current year rate of 19% on the Investment Property Value less the HMRC Indexed Cost of Investment Properties.
£881,026 - Investment Property value, including revaluation, per accounts (Note 5).
-------------
£288,919 - Tax Cost of Investment Properties qualifying for Indexation Allowances (March 1995 to December 2017).
£ 10,880 - Tax Cost of additions to Investment Properties after the 2017 cessation of Indexation Allowances. 
------------
£299,799 - Tax cost of Invesment Properties (Note 5 - Cost & Revaluation Summary).
£199,642 - HMRC Indexing of historic property costs from 1995 to December 2017 (date of cessation of Indexation Allowances).
-------------
£499,441 - Total of Historic Cost plus HMRC Indexation Allowances. 
-------------
£381,625 - Gain if properties were sold at the accounts value (£881,066 - £499,441).
£(62,163) - Less: Capital Losses brought forward.
-----------
£319,462 - Taxable Gains less Losses if Investment Properties were sold at Valuation
-----------
£ 25,000 - Deferred Tax at 19% on 2006 Investment Property Revaluation (to nearest £'000).
£ 15,580 - Deferred Tax at 19% on 2019 increase in Fair Value Reserve
£20,330 - Deferred Tax at 19% on 2021 increase in Fair Value Reserve (Note 9).
-----------
£60,910 - Total Investment Property Deferred Taxation at 31 December 2024.
----------
2024 2023
£ £
Other timing differences 60,910 60,910
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2024 60,910 60,910
Balance at 31 December 2024 60,910 60,910
DEFERRED TAX SUMMARY
£ 25,000 - Deferred Tax at 19% on 2006 Investment Property Revaluation (to nearest £'000).
£ 15,580 - Deferred Tax at 19% on 2019 increase in Fair Value Reserve.
£ 20,330 - Deferred Tax at 19% on 2021 increase in Fair Value Reserve (Notes 4 & 9).
-----------
£60,910 - Total Investment Property Deferred Taxation at 31 December 2024.
...CONTINUED
Page 7
Page 8
9. Provisions for Liabilities - continued
----------
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
40,000 Ordinary A shares of £ 1.00 each 40,000 40,000
40,100 40,100


ORDINARY SHARES

- Full rights of attendance and voting at company meetings.

- Dividends on the recommendation of directors, either to one class of shares to the exclusion of others, or in respect of both classes.




CONVERTIBLE DEFERRED SHARES

- No rights of attendance or voting at company meetings, except in winding up.

- Conversion is limited to 20% of the issued ordinary share capital.

- Conversion of shares requires the approval of the company directors.





ARTICLES OF ASSOCIATION - 2006 COMPANIES ACT MODEL ARTICLES

The company’s 1985 Companies Act incorporation Memorandum & Articles, were replaced by Companies Act 2006 Model Articles, on the 11th January 2022.

The 2006 Model Articles were adopted on 11th January 2022 by Special Resolution of the director and shareholders and the new Articles were recorded at Companies House on 13th January 2022.




SHAREHOLDERS


ORDINARY SHARES

£100 - 100 Shares of £1 each - Robert JR Wike (100% beneficial ownership).


CONVERTIBLE DEFERRED SHARES

£40,000 - 40,000 Shares of £1 each - Robert JR Wike (100% beneficial ownership).









_
Page 8
Page 9
11. Capital Commitments
At the end of the period, the company had no capital commitments contracted for but not provided in these financial statements.
_
12. Directors Advances, Credits and Guarantees
Directors Loan Account Advances and Repayments are summarised in Creditors Due within one Year (Note 7).
Total Dividends paid to the director:-
2024 2023
£ £
Mr Robert Wike 30,000 39,000
13. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 30,000 39,000
30,000 39,000
£30,000 - Ordinary Dividend number 20 (£300 per share paid and credited to the Directors Loan Account on 28/10/2024).
----------
£30,000 - Total Dividends Paid in the Year
----------
DIVIDEND HISTORY
Cumulative Dividends Paid out of accumulated Profit & Loss retained reserves in the Fiscal Tax Years to 5th April
£        0 - 1995-2015
£12,000 - 2015/2016
£ 5,000 - 2016/2017 
£40,000 - 2017/2018 
£24,000 - 2018/2019 
£33,000 - 2019/2020
£10,000 - 2020/2021
£48,000 - 2021/2022
£41,200 - 2022/2023
£39,000 - 2023/2024
£30,000 - 2024/2025
------------
£282,200 - Cumulative Dividends Paid since incorporation, in the accounts years up to December 2024.
-----------
 £  9,731 - Average Annual dividends declared out of profits over the 29 years since incorporation of the company in 1995.
...CONTINUED
Page 9
Page 10
13. Dividends - continued
 ------------
In 2024, the 28th October 2024 dividend of £30,000, distributed all but £298 of the retained profits of the company, accumulated over 29 years since its incorporation in 1995.
Page 10
Page 11
14. Reserves
Revaluation Reserve Fair Value Reserve
£ £
As at 1 January 2024 367,267 153,090
As at 31 December 2024 367,267 153,090
Revaluation Reserve is represented by:-
£392,267 - Professional 2006 Revaluation of Investment Properties (Note 5).
------------
Fair Value Reserve is represented by:-
£ 82,000 - 2019 Fair Value Increase of Investment Properties, above the 2006 Professional Revaluation.
£107,000 - 2021 Fair Value Increase of Investment Properties, above the 2006 Professional Revaluation.
------------
£189,000 - Total Fair Value increase in the value of Investment Properties as at 31 December 2023 (Note 5 & Reserves on Page 6).
(£15,580) - Less:- Deferred Tax on the 2019 Fair Value Increase of £82,000 (Note 10)
(£20,330) - Less:- Deferred Tax on the 2021 Fair Value Increase £107,000  (Note 10)
------------
£153,090 - Fair Value Reserve at 31 December 2024 (Net of Deferred Tax).
------------
...CONTINUED
Page 11
Page 12
14. Reserves - continued
15. Post Balance Sheet Events
There are no Post Balance Sheet Events of note to Report .
_
16. Related Party Transactions
The related party transactions below were at market rate.
_
Robert JR WikeDirectorThe company and its properties are managed internally from its own freehold on-site office. The site management costs relate to electric power, water and broadband. The office was exempted from Business Rates in 2024.

Robert JR Wike

Director

The company and its properties are managed internally from its own freehold on-site office. The site management costs relate to electric power, water and broadband. The office was exempted from Business Rates in 2024.

Robert JR WikeDirectorDirector’s loan at the Balance Sheet date - £235,448 (2023 - £233,905) (Note 7 ):- The director paid £0 to the company during the year (2023 - £6,100) and was repaid £22,000 (2023 - £14,200). A Dividend, amounting to £30,000 was paid during the year and credited to the Director’s loan account (2023 - £39,000). Company expenses paid by the director were £3,228 (2023 - £6,646). Directors personal expenses deducted from the loan account amounted to £3,523 (2023 - £2,380).

Robert JR Wike

Director

Director’s loan at the Balance Sheet date - £235,448 (2023 - £233,905) (Note 7 ):- The director paid £0 to the company during the year (2023 - £6,100) and was repaid £22,000 (2023 - £14,200). A Dividend, amounting to £30,000 was paid during the year and credited to the Director’s loan account (2023 - £39,000). Company expenses paid by the director were £3,228 (2023 - £6,646). Directors personal expenses deducted from the loan account amounted to £3,523 (2023 - £2,380).

Alexander WikeConnected PersonRent of a 1 bed company flat to the connected person was charged at a rent equal to a comparable 1 bedroom flat on the company property site. All other company residential rents were set by independent letting agents. The director contributed £6,162 (2023 - £5,195) to the company rental income in order to uplift the related party rent to market value.

Alexander Wike

Connected Person

Rent of a 1 bed company flat to the connected person was charged at a rent equal to a comparable 1 bedroom flat on the company property site. All other company residential rents were set by independent letting agents. The director contributed £6,162 (2023 - £5,195) to the company rental income in order to uplift the related party rent to market value.

17. Ultimate Controlling Party
The company's ultimate controlling party is Robert J R Wike by virtue of his ownership of 100% of the issued share capital in the company.
Robert J R Wike has been the sole director and controlling shareholder of the company since 3rd April 1995, following Incorporation of the company on 15th March 1995.
_
Page 12