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 10455305 Mr Michael Streets iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10455305 2023-06-30 10455305 2024-06-30 10455305 2023-07-01 2024-06-30 10455305 frs-core:CurrentFinancialInstruments 2024-06-30 10455305 frs-core:Non-currentFinancialInstruments 2024-06-30 10455305 frs-core:InvestmentPropertyIncludedWithinPPE 2024-06-30 10455305 frs-core:InvestmentPropertyIncludedWithinPPE 2023-07-01 2024-06-30 10455305 frs-core:InvestmentPropertyIncludedWithinPPE 2023-06-30 10455305 frs-core:RevaluationReserve 2023-07-01 2024-06-30 10455305 frs-core:RevaluationReserve 2023-06-30 10455305 frs-core:RevaluationReserve 2024-06-30 10455305 frs-core:ShareCapital 2024-06-30 10455305 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10455305 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10455305 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10455305 frs-bus:SmallEntities 2023-07-01 2024-06-30 10455305 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10455305 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10455305 frs-bus:Director1 2023-07-01 2024-06-30 10455305 frs-countries:EnglandWales 2023-07-01 2024-06-30 10455305 2022-06-30 10455305 2023-06-30 10455305 2022-07-01 2023-06-30 10455305 frs-core:CurrentFinancialInstruments 2023-06-30 10455305 frs-core:Non-currentFinancialInstruments 2023-06-30 10455305 frs-core:RevaluationReserve 2023-06-30 10455305 frs-core:ShareCapital 2023-06-30 10455305 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 10455305
Suffolk Chambers Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Thomas Tax (Coventry) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10455305
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 581,250 630,000
581,250 630,000
CURRENT ASSETS
Debtors 5 351,172 346,064
Cash at bank and in hand 5,709 10,204
356,881 356,268
Creditors: Amounts Falling Due Within One Year 6 (6,320 ) (10,694 )
NET CURRENT ASSETS (LIABILITIES) 350,561 345,574
TOTAL ASSETS LESS CURRENT LIABILITIES 931,811 975,574
Creditors: Amounts Falling Due After More Than One Year 7 (382,500 ) (382,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,981 ) (39,244 )
NET ASSETS 519,330 553,830
CAPITAL AND RESERVES
Called up share capital 9 3 3
Revaluation reserve 10 157,457 206,207
Profit and Loss Account 361,870 347,620
SHAREHOLDERS' FUNDS 519,330 553,830
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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 Michael Streets
Director
26th April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Suffolk Chambers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10455305 . The registered office is 30 Binley Road, Coventry, CV3 1JA.
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 comprises rents received from tenants.
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:
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. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 July 2023 630,000
Revaluation (48,750 )
As at 30 June 2024 581,250
Net Book Value
As at 30 June 2024 581,250
As at 1 July 2023 630,000
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 825 -
Amounts owed by group undertakings 350,347 346,064
351,172 346,064
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,639 1,561
Corporation tax 1,170 4,652
Accruals and deferred income 2,201 3,171
Director's loan account 1,310 1,310
6,320 10,694
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 382,500 382,500
8. Secured Creditors
Hampshire Trust Bank Plc have registered fixed charge and negative pledge at Companies House in respect of a mortgage secured on Suffolk Chambers, Scale Lane, Hull.
2024 2023
£ £
Bank loans and overdrafts 382,500 382,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
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10. Reserves
Revaluation Reserve
£
As at 1 July 2023 206,207
Net investment property revaluation reserve (48,750 )
As at 30 June 2024 157,457
11. Related Party Transactions
Street Acquisitions Limited own 100% of the shareholding in Suffolk Chambers Limited.  Mr M Streets is a director of both Street Acquisitions Limited and Suffolk Chambers Limited. As at 30 June 2024, Suffolk Chambers Limited is owed £350,401 by Street Acquisitions Limited.
Suffolk Chambers Limited owes £54 to Street Acquisitions Bowlalley Lane Limited.  Mr M Streets is a director of both Street Acquisitions Bowlalley Lane Limited and Suffolk Chambers Limited.
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