Acorah Software Products - Accounts Production 16.2.850 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 11088446 Mr Adrian Shaw Mrs Fiona Shaw iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11088446 2022-11-30 11088446 2023-11-30 11088446 2022-12-01 2023-11-30 11088446 frs-core:CurrentFinancialInstruments 2023-11-30 11088446 frs-core:Non-currentFinancialInstruments 2023-11-30 11088446 frs-core:ComputerEquipment 2023-11-30 11088446 frs-core:ComputerEquipment 2022-12-01 2023-11-30 11088446 frs-core:ComputerEquipment 2022-11-30 11088446 frs-core:FurnitureFittings 2023-11-30 11088446 frs-core:FurnitureFittings 2022-12-01 2023-11-30 11088446 frs-core:FurnitureFittings 2022-11-30 11088446 frs-core:RevaluationReserve 2022-11-30 11088446 frs-core:RevaluationReserve 2023-11-30 11088446 frs-core:ShareCapital 2023-11-30 11088446 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 11088446 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11088446 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 11088446 frs-bus:SmallEntities 2022-12-01 2023-11-30 11088446 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11088446 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11088446 frs-bus:Director1 2022-12-01 2023-11-30 11088446 frs-bus:Director2 2022-12-01 2023-11-30 11088446 frs-countries:EnglandWales 2022-12-01 2023-11-30 11088446 2021-11-30 11088446 2022-11-30 11088446 2021-12-01 2022-11-30 11088446 frs-core:CurrentFinancialInstruments 2022-11-30 11088446 frs-core:Non-currentFinancialInstruments 2022-11-30 11088446 frs-core:RevaluationReserve 2022-11-30 11088446 frs-core:ShareCapital 2022-11-30 11088446 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 11088446
Afl Property Management Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11088446
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 686 959
Investment Properties 5 319,340 458,500
320,026 459,459
CURRENT ASSETS
Debtors 6 50,002 50,002
Cash at bank and in hand 55,945 36,489
105,947 86,491
Creditors: Amounts Falling Due Within One Year 7 (20,305 ) (4,394 )
NET CURRENT ASSETS (LIABILITIES) 85,642 82,097
TOTAL ASSETS LESS CURRENT LIABILITIES 405,668 541,556
Creditors: Amounts Falling Due After More Than One Year 8 (337,474 ) (456,073 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (15,191 )
NET ASSETS 68,194 70,292
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 64,760 64,760
Profit and Loss Account 3,432 5,530
SHAREHOLDERS' FUNDS 68,194 70,292
Page 1
Page 2
For the year ending 30 November 2023 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 directors acknowledge their 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 Adrian Shaw
Director
02/05/2025
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
Afl Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11088446 . The registered office is 47 Parkfield Close, Tamworth, B77 1HE.

Presentation Currency

£ British Pound
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statement have been prepared under the historical cost convention. The principal accounting policies adopted are set out below 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.


Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are showing within borrowings in current liabilities.

Principal Activity
The principal Activity of the business is Other letting and operating of own or leased real estate.

Secured Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover represents rents received net of VAT.
2.4. 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:
Fixtures & Fittings Straight Line over 5 years
Computer Equipment 20% Straight Line Basis
2.5. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
2.6. Financial Instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.


Classification of financial liabilities

...CONTINUED
Page 3
Page 4
2.6. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.7. 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 (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 994 299 1,293
As at 30 November 2023 994 299 1,293
Depreciation
As at 1 December 2022 199 135 334
Provided during the period 199 74 273
As at 30 November 2023 398 209 607
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 November 2023 596 90 686
As at 1 December 2022 795 164 959
5. Investment Property
2023
£
Fair Value
As at 1 December 2022 458,500
Additions 4,340
Disposals (143,500 )
As at 30 November 2023 319,340
6. Debtors
2023 2022
£ £
Due within one year
Other debtors - 50,000
Called up share capital not paid 2 2
2 50,002
Due after more than one year
Other debtors 50,000 -
50,002 50,002
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - (2 )
Corporation tax 5,101 4,396
Accruals and deferred income 15,204 -
20,305 4,394
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 233,754
Other creditors 337,474 135,641
Directors loan account - 86,678
337,474 456,073
9. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid 2 2
Amount of Allotted, Called Up Share Capital 2 2
Page 5
Page 6
10. Reserves
Revaluation Reserve
£
As at 1 December 2022 64,760
As at 30 November 2023 64,760
Page 6