Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 04310454 Mr Stephen Blundell Mrs Christine Blundell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04310454 2023-08-31 04310454 2024-08-31 04310454 2023-09-01 2024-08-31 04310454 frs-core:CurrentFinancialInstruments 2024-08-31 04310454 frs-core:Non-currentFinancialInstruments 2024-08-31 04310454 frs-core:InvestmentPropertyIncludedWithinPPE 2024-08-31 04310454 frs-core:InvestmentPropertyIncludedWithinPPE 2023-09-01 2024-08-31 04310454 frs-core:InvestmentPropertyIncludedWithinPPE 2023-08-31 04310454 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 04310454 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04310454 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 04310454 frs-core:CapitalRedemptionReserve 2024-08-31 04310454 frs-core:ShareCapital 2024-08-31 04310454 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 04310454 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04310454 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 04310454 frs-bus:SmallEntities 2023-09-01 2024-08-31 04310454 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04310454 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04310454 frs-core:CostValuation 2023-08-31 04310454 frs-core:CostValuation 2024-08-31 04310454 frs-core:ProvisionsForImpairmentInvestments 2023-08-31 04310454 frs-core:ProvisionsForImpairmentInvestments 2024-08-31 04310454 frs-bus:Director1 2023-09-01 2024-08-31 04310454 frs-bus:Director2 2023-09-01 2024-08-31 04310454 frs-countries:EnglandWales 2023-09-01 2024-08-31 04310454 2022-08-31 04310454 2023-08-31 04310454 2022-09-01 2023-08-31 04310454 frs-core:CurrentFinancialInstruments 2023-08-31 04310454 frs-core:Non-currentFinancialInstruments 2023-08-31 04310454 frs-core:CapitalRedemptionReserve 2023-08-31 04310454 frs-core:ShareCapital 2023-08-31 04310454 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 04310454
Src Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
CJM Associates
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04310454
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 862,605 778,545
Investments 4 100 100
862,705 778,645
CURRENT ASSETS
Debtors 5 654,309 958,464
Cash at bank and in hand 263,818 5,597
918,127 964,061
Creditors: Amounts Falling Due Within One Year 6 (141,217 ) (33,620 )
NET CURRENT ASSETS (LIABILITIES) 776,910 930,441
TOTAL ASSETS LESS CURRENT LIABILITIES 1,639,615 1,709,086
Creditors: Amounts Falling Due After More Than One Year 7 (284,019 ) (296,303 )
NET ASSETS 1,355,596 1,412,783
CAPITAL AND RESERVES
Called up share capital 9 320 320
Capital redemption reserve 40 40
Profit and Loss Account 1,355,236 1,412,423
SHAREHOLDERS' FUNDS 1,355,596 1,412,783
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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 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 Stephen Blundell
Director
13/05/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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:
Freehold 2% on straight line
1.4. 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.
1.5. 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 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. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2023: 2)
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3. Tangible Assets
Land & Property
Freehold Investment Properties Total
£ £ £
Cost
As at 1 September 2023 862,605 - 862,605
Transfers (862,605 ) 862,605 -
As at 31 August 2024 - 862,605 862,605
Depreciation
As at 1 September 2023 84,060 - 84,060
Provided during the period (84,060 ) - (84,060 )
As at 31 August 2024 - - -
Net Book Value
As at 31 August 2024 - 862,605 862,605
As at 1 September 2023 778,545 - 778,545
4. Investments
Subsidiaries
£
Cost
As at 1 September 2023 100
As at 31 August 2024 100
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 100
As at 1 September 2023 100
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by subsidiaries 654,309 958,464
654,309 958,464
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 36,585 -
Corporation tax - 3,712
Other creditors 8,265 8,265
Accruals and deferred income 3,000 3,000
Directors' loan accounts 93,367 18,643
141,217 33,620
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 284,019 296,303
284,019 296,303
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 320,604 296,303
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 320 320
10. General Information
Src Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04310454 . The registered office is Coppice House, Coppice Side, Brownhills, Walsall, WS8 7EX.
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