Acorah Software Products - Accounts Production 16.2.850 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 11565068 Mr Chi Voong Mrs Wei Wei iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11565068 2024-02-29 11565068 2025-02-28 11565068 2024-03-01 2025-02-28 11565068 frs-core:CurrentFinancialInstruments 2025-02-28 11565068 frs-core:Non-currentFinancialInstruments 2025-02-28 11565068 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 11565068 frs-core:PlantMachinery 2025-02-28 11565068 frs-core:PlantMachinery 2024-03-01 2025-02-28 11565068 frs-core:PlantMachinery 2024-02-29 11565068 frs-core:ShareCapital 2025-02-28 11565068 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 11565068 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 11565068 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 11565068 frs-bus:SmallEntities 2024-03-01 2025-02-28 11565068 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 11565068 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 11565068 frs-bus:Director1 2024-03-01 2025-02-28 11565068 frs-bus:Director2 2024-03-01 2025-02-28 11565068 frs-countries:EnglandWales 2024-03-01 2025-02-28 11565068 2023-02-28 11565068 2024-02-29 11565068 2023-03-01 2024-02-29 11565068 frs-core:CurrentFinancialInstruments 2024-02-29 11565068 frs-core:Non-currentFinancialInstruments 2024-02-29 11565068 frs-core:ShareCapital 2024-02-29 11565068 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: 11565068
Flash Property Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11565068
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,952 3,893
Investment Properties 5 978,023 978,023
979,975 981,916
CURRENT ASSETS
Debtors 6 2,418 (22,589 )
Cash at bank and in hand 11,044 19,194
13,462 (3,395 )
Creditors: Amounts Falling Due Within One Year 7 (1 ) (634,889 )
NET CURRENT ASSETS (LIABILITIES) 13,461 (638,284 )
TOTAL ASSETS LESS CURRENT LIABILITIES 993,436 343,632
Creditors: Amounts Falling Due After More Than One Year 8 (913,631 ) (275,589 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,531 ) -
NET ASSETS 54,274 68,043
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 54,174 67,943
SHAREHOLDERS' FUNDS 54,274 68,043
Page 1
Page 2
For the year ending 28 February 2025 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 Chi Voong
Director
08/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Flash Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11565068 . The registered office is 6 Holly Close, Timperley, Altrincham, WA15 6NE.
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. 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:
Freehold 3 Years Straight Line
Plant & Machinery 3 Years Straight Line
It is on the client's recomendations and that of a third party accountant that the assets in relation to this property are capitalised and have capital allowance claimed upon them.
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. 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: 2 (2024: NIL)
2 -
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost or Valuation
As at 1 March 2024 6,867
Additions 521
As at 28 February 2025 7,388
Depreciation
As at 1 March 2024 2,974
Provided during the period 2,462
As at 28 February 2025 5,436
Net Book Value
As at 28 February 2025 1,952
As at 1 March 2024 3,893
5. Investment Property
2025
£
Fair Value
As at 1 March 2024 and 28 February 2025 978,023
6. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income - 524
Other debtors 2,418 2,418
2,418 2,942
Due after more than one year
Deferred tax current asset - (25,531 )
2,418 (22,589 )
The other debtors shown in the accounts is made up as follows:
Deposits held on rental properties: £2,418.00
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1 2
Corporation tax - (101 )
Other creditors - 634,988
1 634,889
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other creditors 628,744 -
Directors loan account 284,887 275,589
913,631 275,589
The other creditors shown in the accounts is made up as follows:
Deposits held on rental properties: £2,418.00
Mortgages on properties: £632,574.11
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 5