Acorah Software Products - Accounts Production 16.3.350 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11621480 Mr Constantinos Cleanthous Mr David Turner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11621480 2023-12-31 11621480 2024-12-31 11621480 2024-01-01 2024-12-31 11621480 frs-core:CurrentFinancialInstruments 2024-12-31 11621480 frs-core:Non-currentFinancialInstruments 2024-12-31 11621480 frs-core:ComputerEquipment 2024-12-31 11621480 frs-core:ComputerEquipment 2024-01-01 2024-12-31 11621480 frs-core:ComputerEquipment 2023-12-31 11621480 frs-core:PlantMachinery 2024-12-31 11621480 frs-core:PlantMachinery 2024-01-01 2024-12-31 11621480 frs-core:PlantMachinery 2023-12-31 11621480 frs-core:ShareCapital 2024-12-31 11621480 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11621480 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11621480 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11621480 frs-bus:SmallEntities 2024-01-01 2024-12-31 11621480 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11621480 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11621480 frs-bus:Director1 2024-01-01 2024-12-31 11621480 frs-bus:Director2 2024-01-01 2024-12-31 11621480 frs-core:CurrentFinancialInstruments 1 2024-12-31 11621480 frs-core:Non-currentFinancialInstruments 1 2024-12-31 11621480 frs-countries:EnglandWales 2024-01-01 2024-12-31 11621480 2022-12-31 11621480 2023-12-31 11621480 2023-01-01 2023-12-31 11621480 frs-core:CurrentFinancialInstruments 2023-12-31 11621480 frs-core:Non-currentFinancialInstruments 2023-12-31 11621480 frs-core:ShareCapital 2023-12-31 11621480 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11621480 frs-core:CurrentFinancialInstruments 1 2023-12-31 11621480 frs-core:Non-currentFinancialInstruments 1 2023-12-31
Registered number: 11621480
David Turner Property Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 11621480
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 412 549
412 549
CURRENT ASSETS
Debtors 5 48,359 168,713
Cash at bank and in hand 54,073 124,594
102,432 293,307
Creditors: Amounts Falling Due Within One Year 6 (71,385 ) (84,855 )
NET CURRENT ASSETS (LIABILITIES) 31,047 208,452
TOTAL ASSETS LESS CURRENT LIABILITIES 31,459 209,001
Creditors: Amounts Falling Due After More Than One Year 7 (151,420 ) (151,420 )
NET (LIABILITIES)/ASSETS (119,961 ) 57,581
CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Income Statement (121,961 ) 55,581
SHAREHOLDERS' FUNDS (119,961) 57,581
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Page 2
For the year ending 31 December 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 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 Income Statement.
On behalf of the board
Mr David Turner
Director
25 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
David Turner Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11621480 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
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 the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Going Concern Disclosure
The company has net liabilities of £119,961 (2023: £57,581 net assets)  and net current assets of £31,047 (2023: £208,452) as at 31 December 2024. Management has forecast cash flows for the company for at least 12 months from the date of signing the financial statements, and having considered the recoverability and liquidity of its net current assets, as well as the shareholders commitment to continue to support the company over the following 12 months at least, the directors confirm that they are satisfied that the company has adequate resources to meet its liabilities for at least 12 months from the date of signing the financial statements. As a result, they continue to adopt the going concern basis in preparing the financial statements.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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:
Website Development Costs straight line over 5 years
Computer Equipment 25% reducing balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
The tax expense represents the sum of the corporation 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 year 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.
...CONTINUED
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2.6. Taxation - continued
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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
2.8. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.
2.9. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investmens with original maturities of three months or less.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Website Development Costs Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 17,747 1,782 19,529
As at 31 December 2024 17,747 1,782 19,529
Depreciation
As at 1 January 2024 17,746 1,234 18,980
Provided during the period - 137 137
As at 31 December 2024 17,746 1,371 19,117
Net Book Value
As at 31 December 2024 1 411 412
As at 1 January 2024 1 548 549
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,100 168,713
Corporation tax recoverable assets 14,571 -
VAT 16,688 -
48,359 168,713
Trade Debtors
Trade debtors are recognised at the invoiced amount and subsequently measured at amortised cost, less any provision for impairment. Where there is objective evidence that a debt may not be recoverable, it is written down to its recoverable amount through a charge to the income statement.
Impairment of Trade Debtors
A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due under the original terms of the invoice. Indicators of impairment include known insolvency or significant financial difficulties of the debtor, failure to make payment after reminders, or other objective evidence of potential non-payment. Individual trade debtor balances are reviewed on a case-by-case basis.
Debts which are considered irrecoverable are written off against the provision or directly to the income statement in the period they are identified.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,980 -
Corporation tax 42 14,571
Other taxes and social security 5,174 5,400
VAT - 7,335
Private loan < 12 months 50,451 50,451
Accruals and deferred income 4,000 4,000
Directors' loan accounts 9,738 3,098
71,385 84,855
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Private loan > 12 months 151,420 151,420
The private loan is unsecured and interest-free. Precise repayment terms are yet to be ascertained.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,000 2,000
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