Acorah Software Products - Accounts Production 16.3.350 false true 28 February 2023 1 March 2022 false 1 March 2023 27 August 2024 27 August 2024 05045359 Mr Luke Kelly iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05045359 2023-02-28 05045359 2024-08-27 05045359 2023-03-01 2024-08-27 05045359 frs-core:CurrentFinancialInstruments 2024-08-27 05045359 frs-core:MotorVehicles 2024-08-27 05045359 frs-core:MotorVehicles 2023-03-01 2024-08-27 05045359 frs-core:MotorVehicles 2023-02-28 05045359 frs-core:PlantMachinery 2024-08-27 05045359 frs-core:PlantMachinery 2023-03-01 2024-08-27 05045359 frs-core:PlantMachinery 2023-02-28 05045359 frs-core:ShareCapital 2024-08-27 05045359 frs-core:RetainedEarningsAccumulatedLosses 2024-08-27 05045359 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-08-27 05045359 frs-bus:FilletedAccounts 2023-03-01 2024-08-27 05045359 frs-bus:SmallEntities 2023-03-01 2024-08-27 05045359 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-08-27 05045359 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-08-27 05045359 frs-bus:Director1 2023-03-01 2024-08-27 05045359 frs-countries:EnglandWales 2023-03-01 2024-08-27 05045359 2022-02-28 05045359 2023-02-28 05045359 2022-03-01 2023-02-28 05045359 frs-core:CurrentFinancialInstruments 2023-02-28 05045359 frs-core:ShareCapital 2023-02-28 05045359 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 05045359
Park Let Limited
Unaudited Financial Statements
For the Period 1 March 2023 to 27 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05045359
27 August 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,829 5,976
72,829 5,976
CURRENT ASSETS
Debtors 5 37,286 51,457
Cash at bank and in hand 12,533 58,881
49,819 110,338
Creditors: Amounts Falling Due Within One Year 6 (79,806 ) (94,680 )
NET CURRENT ASSETS (LIABILITIES) (29,987 ) 15,658
TOTAL ASSETS LESS CURRENT LIABILITIES 42,842 21,634
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,494 ) (1,494 )
NET ASSETS 41,348 20,140
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 40,348 19,140
SHAREHOLDERS' FUNDS 41,348 20,140
Page 1
Page 2
For the period ending 27 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 Luke Kelly
Director
6th May 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
Park Let Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05045359 . The registered office is 46 Hullbridge Road, South Woodham Ferrers, Essex, CM3 5NG.
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. 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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
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 period, 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 period was: 5 (2023: 5)
5 5
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 53,621 9,917 63,538
Additions 91,129 - 91,129
As at 27 August 2024 144,750 9,917 154,667
Depreciation
As at 1 March 2023 48,391 9,171 57,562
Provided during the period 24,089 187 24,276
As at 27 August 2024 72,480 9,358 81,838
Net Book Value
As at 27 August 2024 72,270 559 72,829
As at 1 March 2023 5,230 746 5,976
5. Debtors
27 August 2024 28 February 2023
£ £
Due within one year
Other debtors 37,286 51,457
6. Creditors: Amounts Falling Due Within One Year
27 August 2024 28 February 2023
£ £
Trade creditors - 42,124
Corporation tax - 427
Other taxes and social security 1,377 1,812
VAT 38,779 41,617
Accruals and deferred income 8,700 8,700
Director's loan account 30,950 -
79,806 94,680
7. Share Capital
27 August 2024 28 February 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4