Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 March 2024 31 March 2024 OC438753 Khuram Shahid Smaera Shahid iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC438753 2023-08-31 OC438753 2024-03-31 OC438753 2023-09-01 2024-03-31 OC438753 frs-core:CurrentFinancialInstruments 2024-03-31 OC438753 frs-core:Non-currentFinancialInstruments 2024-03-31 OC438753 frs-core:ComputerEquipment 2023-09-01 2024-03-31 OC438753 frs-core:FurnitureFittings 2024-03-31 OC438753 frs-core:FurnitureFittings 2023-09-01 2024-03-31 OC438753 frs-core:FurnitureFittings 2023-08-31 OC438753 frs-core:MotorVehicles 2024-03-31 OC438753 frs-core:MotorVehicles 2023-09-01 2024-03-31 OC438753 frs-core:MotorVehicles 2023-08-31 OC438753 frs-bus:LimitedLiabilityPartnershipLLP 2023-09-01 2024-03-31 OC438753 frs-bus:LimitedLiabilityPartnershipsSORP 2023-09-01 2024-03-31 OC438753 frs-bus:FilletedAccounts 2023-09-01 2024-03-31 OC438753 frs-bus:SmallEntities 2023-09-01 2024-03-31 OC438753 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-03-31 OC438753 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-03-31 OC438753 frs-countries:EnglandWales 2023-09-01 2024-03-31 OC438753 frs-bus:PartnerLLP1 2023-09-01 2024-03-31 OC438753 frs-bus:PartnerLLP2 2023-09-01 2024-03-31 OC438753 2022-08-31 OC438753 2023-08-31 OC438753 2022-09-01 2023-08-31 OC438753 frs-core:CurrentFinancialInstruments 2023-08-31 OC438753 frs-core:Non-currentFinancialInstruments 2023-08-31
Registered number: OC438753
AASK ESTATES LLP
Unaudited Financial Statements
For the Period 1 September 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: OC438753
31 March 2024 31 August 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 915 3,458
Investment Properties 6 856,000 856,000
856,915 859,458
CURRENT ASSETS
Debtors 7 - 240
- 240
Creditors: Amounts Falling Due Within One Year 8 (3,479 ) (2,772 )
NET CURRENT ASSETS (LIABILITIES) (3,479 ) (2,532 )
TOTAL ASSETS LESS CURRENT LIABILITIES 853,436 856,926
Creditors: Amounts Falling Due After More Than One Year 9 (505,021 ) (505,019 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 348,415 351,907
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 4,915 8,407
4,915 8,407
Equity
Members' other interests
Revaluation reserve 343,500 343,500
343,500 343,500
348,415 351,907
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 4,915 8,407
Members' other interests 343,500 343,500
348,415 351,907
Page 1
Page 2
For the period ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Khuram Shahid
Designated Member
2nd April 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AASK ESTATES LLP is a limited liability partnership, incorporated in England & Wales, registered number OC438753 . The Registered Office is 81 Hillesden Avenue, Elstow, Bedford, MK42 9AJ.
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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for Small Limited Liability Partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.  Turnover comprises rents receivable.
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 25% Reducing balance
Fixtures & Fittings 33.3% on cost
Computer Equipment 33.3% on cost
Impairment of fixed assets 
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. 
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units. 
2.4. Investment Properties
Investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable assets, adjusted if necessary for any difference in the nature, location or condition of the specific asset.  No depreciation is provided.  Changes in fair value are recognised in the profit and loss account.
Investment Properties are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 
Investment Properties carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 
An increase in the carrying amount of an Investment Property as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss.
A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset.  Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess is recognised in profit or loss.
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2.5. Taxation
Tax on the profits of the LLP is assessable on the Members who are also responsible for payment of any liability to HMRC.  No provision is therefore made for taxation in the LLP Accounts.
2.6. Members' Participation Rights and Liabilities
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to Members'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are credited to Members and thereby shown as liabilities in the statement of financial position.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL (2023: NIL)
- -
4. Prior Period Adjustment
The comparative figures for the prior year Accounts have been restated to correct misallocations, provisions and presentation of information.  Details are set out in the relevant Notes to the Accounts.
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 September 2023 5,000 1,087 6,087
Disposals (4,000 ) - (4,000 )
As at 31 March 2024 1,000 1,087 2,087
Depreciation
As at 1 September 2023 2,190 439 2,629
Provided during the period 82 211 293
Disposals (1,750 ) - (1,750 )
As at 31 March 2024 522 650 1,172
Net Book Value
As at 31 March 2024 478 437 915
As at 1 September 2023 2,810 648 3,458
The Net Book Value of Fixed Assets have been restated to correct the totals reported in the prior period and separate classification of Investment Properties.  The previously reported total including Investment Properties was £855,993.
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Page 5
6. Investment Property
31 March 2024
£
Fair Value
As at 1 September 2023 and 31 March 2024 856,000
If investment property had been accounted for under historical cost accounting rules, but reflecting the value on transfer of the Beneficial Interest to the LLP the amounts would be:
31 March 2024 31 August 2023
as restated
£ £
Cost 512,500 512,500
The Freehold Investment Property is shown at valuation, as considered and assessed by the Designated Members in accordance with the LLP Accounting Policy set out above, being based on comparable assets sold or being marketed. The historical cost of the freehold property is stated above.
7. Debtors
31 March 2024 31 August 2023
as restated
£ £
Due within one year
Prepayments and accrued income - 240
The Debtors balance for the prior period has been restated to amend the inclusion of members drawings offset against Members Interests (previously stated as £14,606).
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 August 2023
as restated
£ £
Accruals and deferred income 3,479 2,772
The Accruals balance for the prior period has been restated to include provisions for additional costs (previously stated as £1,139).
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9. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 August 2023
as restated
£ £
Property Purchases - loans 505,021 505,019
The loans are secured on the Investment Property and repayable between one and five years from the Balance Sheet date.
The loan balances for the prior period have been restated to include additonal amounts payable (previously stated as £504,498).
10. Related Party Transactions
The Investment Properties were initially purchased by the Designated Members.  The title has been held by the Designated Members for the benefit of the LLP since formation and commencement of activities.
The Designated Members raised loan finance to purchase the Investment Properties.  The LLP is required and obliged to meet the payments and interest costs payable under the terms of the loan agreements.
The LLP Accounts reflect the asset and liability positions set out above.
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