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 SC568965 Mrs Maria Soja iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC568965 2023-06-30 SC568965 2024-06-30 SC568965 2023-07-01 2024-06-30 SC568965 frs-core:CurrentFinancialInstruments 2024-06-30 SC568965 frs-core:Non-currentFinancialInstruments 2024-06-30 SC568965 frs-core:ComputerEquipment 2024-06-30 SC568965 frs-core:ComputerEquipment 2023-07-01 2024-06-30 SC568965 frs-core:ComputerEquipment 2023-06-30 SC568965 frs-core:ShareCapital 2024-06-30 SC568965 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC568965 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC568965 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC568965 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC568965 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC568965 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC568965 frs-bus:Director1 2023-07-01 2024-06-30 SC568965 frs-core:CurrentFinancialInstruments 1 2024-06-30 SC568965 frs-countries:Scotland 2023-07-01 2024-06-30 SC568965 2022-06-30 SC568965 2023-06-30 SC568965 2022-07-01 2023-06-30 SC568965 frs-core:CurrentFinancialInstruments 2023-06-30 SC568965 frs-core:Non-currentFinancialInstruments 2023-06-30 SC568965 frs-core:ShareCapital 2023-06-30 SC568965 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 SC568965 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: SC568965
Polamco Properties Ltd.
Unaudited 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: SC568965
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 63 94
Investment Properties 5 539,566 539,566
539,629 539,660
CURRENT ASSETS
Debtors 6 7,500 3,470
Cash at bank and in hand 5,081 16,555
12,581 20,025
Creditors: Amounts Falling Due Within One Year 7 (2,906 ) (7,396 )
NET CURRENT ASSETS (LIABILITIES) 9,675 12,629
TOTAL ASSETS LESS CURRENT LIABILITIES 549,304 552,289
Creditors: Amounts Falling Due After More Than One Year 8 (655,168 ) (651,923 )
NET LIABILITIES (105,864 ) (99,634 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (105,964 ) (99,734 )
SHAREHOLDERS' FUNDS (105,864) (99,634)
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 director acknowledges her 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
Mrs Maria Soja
Director
28/03/2025
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
Polamco Properties Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC568965 . The registered office is 2nd Floor (East), Bellgrave Court, Rosehall Road, Bellshill, North Lanarkshire, ML4 3NR.
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.
The company continues to trade with the support of the directors and shareholders. Directors will not demand repaymnet of loans due to them where this would impair the company's ability to trade.
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.
Rental Income
Turnover from rental income which is recognised on a straight-line basis over the lease term.
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:
Computer Equipment 33% on cost
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 8)
2 8
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 350
As at 30 June 2024 350
Depreciation
As at 1 July 2023 256
Provided during the period 31
As at 30 June 2024 287
Net Book Value
As at 30 June 2024 63
As at 1 July 2023 94
Page 3
Page 4
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 539,566
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,222 2,000
Prepayments and accrued income 477 456
Other debtors 1,454 1,014
VAT 1,347 -
7,500 3,470
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,356
Bank loans and overdrafts 1,670 1,670
VAT - 4,368
Accruals & deferred income 1,236 2
2,906 7,396
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,522 3,192
Directors loan account 653,646 648,731
655,168 651,923
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4