Acorah Software Products - Accounts Production 16.2.850 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 SC546891 Mr Victor Singh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC546891 2022-10-31 SC546891 2023-10-31 SC546891 2022-11-01 2023-10-31 SC546891 frs-core:CurrentFinancialInstruments 2023-10-31 SC546891 frs-core:Non-currentFinancialInstruments 2023-10-31 SC546891 frs-core:BetweenOneFiveYears 2023-10-31 SC546891 frs-core:ComputerEquipment 2023-10-31 SC546891 frs-core:ComputerEquipment 2022-11-01 2023-10-31 SC546891 frs-core:ComputerEquipment 2022-10-31 SC546891 frs-core:MotorVehicles 2023-10-31 SC546891 frs-core:MotorVehicles 2022-11-01 2023-10-31 SC546891 frs-core:MotorVehicles 2022-10-31 SC546891 frs-core:WithinOneYear 2023-10-31 SC546891 frs-core:ShareCapital 2023-10-31 SC546891 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 SC546891 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC546891 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 SC546891 frs-bus:SmallEntities 2022-11-01 2023-10-31 SC546891 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC546891 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC546891 frs-bus:Director1 2022-11-01 2023-10-31 SC546891 frs-core:CurrentFinancialInstruments 1 2023-10-31 SC546891 frs-core:CurrentFinancialInstruments 2 2023-10-31 SC546891 frs-core:Non-currentFinancialInstruments 5 2023-10-31 SC546891 frs-countries:Scotland 2022-11-01 2023-10-31 SC546891 2021-10-31 SC546891 2022-10-31 SC546891 2021-11-01 2022-10-31 SC546891 frs-core:CurrentFinancialInstruments 2022-10-31 SC546891 frs-core:Non-currentFinancialInstruments 2022-10-31 SC546891 frs-core:BetweenOneFiveYears 2022-10-31 SC546891 frs-core:WithinOneYear 2022-10-31 SC546891 frs-core:ShareCapital 2022-10-31 SC546891 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 SC546891 frs-core:CurrentFinancialInstruments 1 2022-10-31 SC546891 frs-core:CurrentFinancialInstruments 2 2022-10-31 SC546891 frs-core:Non-currentFinancialInstruments 5 2022-10-31
Registered number: SC546891
Kba Homes Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Jeffrey A C Meek LLP
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC546891
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,407 55,704
Investment Properties 5 4,274,588 4,744,588
4,276,995 4,800,292
CURRENT ASSETS
Debtors 6 54,534 25,129
Cash at bank and in hand 17,069 2,378
71,603 27,507
Creditors: Amounts Falling Due Within One Year 7 (2,265,563 ) (2,134,405 )
NET CURRENT ASSETS (LIABILITIES) (2,193,960 ) (2,106,898 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,083,035 2,693,394
Creditors: Amounts Falling Due After More Than One Year 8 (3,121,728 ) (3,554,842 )
NET LIABILITIES (1,038,693 ) (861,448 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (1,038,793 ) (861,548 )
SHAREHOLDERS' FUNDS (1,038,693) (861,448)
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For the year ending 31 October 2023 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 Victor Singh
Director
21st April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Kba Homes Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC546891 . The registered office is 10 Townhead Gardens, Collin, Dumfries, DG1 4GE.
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 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
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:
Motor Vehicles 20%
Computer Equipment 25%
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. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 2)
1 2
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4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 137,665 1,208 138,873
Disposals (127,788 ) - (127,788 )
As at 31 October 2023 9,877 1,208 11,085
Depreciation
As at 1 November 2022 82,599 570 83,169
Provided during the period 1,975 206 2,181
Disposals (76,672 ) - (76,672 )
As at 31 October 2023 7,902 776 8,678
Net Book Value
As at 31 October 2023 1,975 432 2,407
As at 1 November 2022 55,066 638 55,704
5. Investment Property
2023
£
Fair Value
As at 1 November 2022 4,744,588
Disposals (470,000 )
As at 31 October 2023 4,274,588
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 41,400 11,740
VAT - 255
Amounts owed by group undertakings 13,134 13,134
54,534 25,129
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 1,916 17,199
KBA Commecial 210,091 115,644
K Singh 3,253 -
Accruals and deferred income 8,535 14,710
Director's loan account 2,041,768 1,986,852
2,265,563 2,134,405
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 747 64,842
Bank loans 3,070,981 3,440,000
BBL Loan 50,000 50,000
3,121,728 3,554,842
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,916 17,199
Later than one year and not later than five years 747 64,842
2,663 82,041
2,663 82,041
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Post Balance Sheet Events
The properties were valued 15th April 2020 by the VAS Group Limited and the market value was held to be £5,326,000.
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