Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09115417 Mr Wasiu Fadahunsi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09115417 2023-07-31 09115417 2024-07-31 09115417 2023-08-01 2024-07-31 09115417 frs-core:CurrentFinancialInstruments 2024-07-31 09115417 frs-core:Non-currentFinancialInstruments 2024-07-31 09115417 frs-core:SharePremium 2024-07-31 09115417 frs-core:ShareCapital 2024-07-31 09115417 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09115417 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09115417 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09115417 frs-bus:SmallEntities 2023-08-01 2024-07-31 09115417 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09115417 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09115417 frs-bus:Director1 2023-08-01 2024-07-31 09115417 frs-countries:EnglandWales 2023-08-01 2024-07-31 09115417 2022-07-31 09115417 2023-07-31 09115417 2022-08-01 2023-07-31 09115417 frs-core:CurrentFinancialInstruments 2023-07-31 09115417 frs-core:Non-currentFinancialInstruments 2023-07-31 09115417 frs-core:SharePremium 2023-07-31 09115417 frs-core:ShareCapital 2023-07-31 09115417 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 09115417
Faddy Properties Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Keystride Consulting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09115417
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,050,000 -
1,050,000 -
CURRENT ASSETS
Debtors 5 48,812 272,796
Cash at bank and in hand 38 -
48,850 272,796
Creditors: Amounts Falling Due Within One Year 6 (1,080 ) (540 )
NET CURRENT ASSETS (LIABILITIES) 47,770 272,256
TOTAL ASSETS LESS CURRENT LIABILITIES 1,097,770 272,256
Creditors: Amounts Falling Due After More Than One Year 7 (790,893 ) (262,500 )
NET ASSETS 306,877 9,756
CAPITAL AND RESERVES
Called up share capital 8 600 600
Share premium account 317,759 18,000
Profit and Loss Account (11,482 ) (8,844 )
SHAREHOLDERS' FUNDS 306,877 9,756
Page 1
Page 2
For the year ending 31 July 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 Wasiu Fadahunsi
Director
18/04/2025
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
Faddy Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09115417 . The registered office is 10 Owers Road, Witham, Essex, CM8 1FR.
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Investment Property
2024
£
Fair Value
As at 1 August 2023 -
Additions 1,050,000
As at 31 July 2024 1,050,000
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 48,812 -
Other debtors - 272,796
48,812 272,796
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 1,080 540
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 787,357 -
Intercompany loan 3,536 262,500
790,893 262,500
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 600 600
Page 4