Acorah Software Products - Accounts Production 16.2.850 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 11790296 Mr S A Lipinski Mr P A Thrower iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11790296 2023-06-30 11790296 2024-06-30 11790296 2023-07-01 2024-06-30 11790296 frs-core:CurrentFinancialInstruments 2024-06-30 11790296 frs-core:Non-currentFinancialInstruments 2024-06-30 11790296 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 11790296 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11790296 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 11790296 frs-core:ShareCapital 2024-06-30 11790296 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 11790296 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11790296 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 11790296 frs-bus:SmallEntities 2023-07-01 2024-06-30 11790296 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 11790296 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11790296 frs-bus:Director1 2023-07-01 2024-06-30 11790296 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 11790296 frs-countries:EnglandWales 2023-07-01 2024-06-30 11790296 2022-06-30 11790296 2023-06-30 11790296 2022-07-01 2023-06-30 11790296 frs-core:CurrentFinancialInstruments 2023-06-30 11790296 frs-core:Non-currentFinancialInstruments 2023-06-30 11790296 frs-core:ShareCapital 2023-06-30 11790296 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 11790296
Megaclose Properties 1 Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11790296
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,512,429 8,729,674
11,512,429 8,729,674
CURRENT ASSETS
Debtors 5 93,693 -
Cash at bank and in hand 179,060 10,447
272,753 10,447
Creditors: Amounts Falling Due Within One Year 6 (11,244,706 ) (8,139,246 )
NET CURRENT ASSETS (LIABILITIES) (10,971,953 ) (8,128,799 )
TOTAL ASSETS LESS CURRENT LIABILITIES 540,476 600,875
Creditors: Amounts Falling Due After More Than One Year 7 (13,706 ) (23,728 )
NET ASSETS 526,770 577,147
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 526,670 577,047
SHAREHOLDERS' FUNDS 526,770 577,147
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 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.
On behalf of the board
Mr S A Lipinski
Director
9 April 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Megaclose Properties 1 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11790296 . The registered office is 120 North Sherwood Street, Nottingham, United Kingdom, NG1 4EF.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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
Assets in the course of construction represent the historical cost of the developments until their 
completion. Once complete the cost of the development is transferred to investment property. Assets in 
the course of construction are not depreciated.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 July 2023 8,729,674
Additions 2,782,755
As at 30 June 2024 11,512,429
Net Book Value
As at 30 June 2024 11,512,429
As at 1 July 2023 8,729,674
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 93,693 -
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,102,918 1,053,869
Bank loans and overdrafts 9,151,866 6,847,583
CIS Liability 94,912 23,090
Other creditors 895,010 209,277
Taxation and social security - 5,427
11,244,706 8,139,246
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,706 23,728
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4