Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07737515 Mr Atif Malik iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07737515 2023-08-31 07737515 2024-08-31 07737515 2023-09-01 2024-08-31 07737515 frs-core:CurrentFinancialInstruments 2024-08-31 07737515 frs-core:Non-currentFinancialInstruments 2024-08-31 07737515 frs-core:ShareCapital 2024-08-31 07737515 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07737515 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07737515 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07737515 frs-bus:SmallEntities 2023-09-01 2024-08-31 07737515 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07737515 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07737515 frs-bus:Director1 2023-09-01 2024-08-31 07737515 frs-countries:EnglandWales 2023-09-01 2024-08-31 07737515 2022-08-31 07737515 2023-08-31 07737515 2022-09-01 2023-08-31 07737515 frs-core:CurrentFinancialInstruments 2023-08-31 07737515 frs-core:Non-currentFinancialInstruments 2023-08-31 07737515 frs-core:ShareCapital 2023-08-31 07737515 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 07737515
Value Developments Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Bennett Verby Limited
7 St Petersgate
Stockport
Cheshire
SK1 1EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07737515
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 440,688 -
440,688 -
CURRENT ASSETS
Stocks 5 1,011,915 954,023
Debtors 6 1,057,301 826,357
Cash at bank and in hand 32,720 41
2,101,936 1,780,421
Creditors: Amounts Falling Due Within One Year 7 (1,703,458 ) (1,275,525 )
NET CURRENT ASSETS (LIABILITIES) 398,478 504,896
TOTAL ASSETS LESS CURRENT LIABILITIES 839,166 504,896
Creditors: Amounts Falling Due After More Than One Year 8 (1,001,025 ) (625,645 )
NET LIABILITIES (161,859 ) (120,749 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (161,959 ) (120,849 )
SHAREHOLDERS' FUNDS (161,859) (120,749)
Page 1
Page 2
For the year ending 31 August 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 Atif Malik
Director
23 April 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
Value Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07737515 . The registered office is Prospect House, Featherstall Road South, Oldham, OL9 6HL.
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.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Investment Property
2024
£
Fair Value
As at 1 September 2023 -
Additions 440,688
As at 31 August 2024 440,688
5. Stocks
2024 2023
£ £
Stock 1,011,915 954,023
Page 3
Page 4
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 937,521 773,712
Other debtors 119,780 52,645
1,057,301 826,357
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,098 6,977
Amounts owed to group undertakings 565,986 488,285
Other creditors 1,126,374 780,263
1,703,458 1,275,525
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 1,001,025 625,645
9. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
10. Related Party Transactions
Included in other debtors are the following amounds owed by related parties:
Portfolio Lets UK £162,040 (2023: £59,236)
MON Properties £15,000 (2023: £15,000)
Last Seconds UK £140,430 (2023: £61,504)
City UK Properties £57,956 (2023: £39,156)
A & S MCR £151,745 (2023: £187,919)
TM Properties NW £70,535 (2023: £90,535)
MA Etates Oldham £12,574 (2023: £12,574)
Conceptial Development £8,750 (2023: £8,750)
AJ Estates Ribchester £68,324 (2023: £36,324)
Opulence UK Properties £100,000 (2023: £100,000)
Porperties Northwest £700 (2023: £700)
Stoke Green Estate £21,200 (2023: £21,200)
Last Seconds Manchester £51,500 (2023: £51,500)
Alex Hunt Estates Sales £2,531 (2023: £2,531)
AI MCR £9,987 (2023: £9,987)
Station Yard PVT £36,000 (2023: £36,000)
AK Estates MCR £23,250 (2023: NIL)
Included in other creditors are the following amounts owed to relates parties:
The Wybourn Public House £148,456 (2023: £148,456)
UK Investment PVT £35,678 (2023: £20,678)
Copley Mills £47,780 (2023: £47,780)
My UK Management £85,700 (2023: £87,250)
Northwest Property Manchester £28,494 (2023: £31,121)
Venture Alliance Consultancy £85,934 (2023: £153,000)
...CONTINUED
Page 4
Page 5
10. Related Party Transactions - continued
Property Group MCR £26,144 (2023: £3,696 owed to the comany)
Northwest Securities £35,699 (2023: £33,101 owed to the company)
Napier Court Investments £72,102 (2023: £4,000 owed to the company)
Page 5