Acorah Software Products - Accounts Production 16.3.350 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 08554105 Mr Mark Hoskins Mr Gavin O'Callaghan Corinthian (London) Holdings Limited 56 Buckingham Gate,London, SW1E 6AE true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08554105 2023-08-31 08554105 2024-08-31 08554105 2023-09-01 2024-08-31 08554105 frs-core:CurrentFinancialInstruments 2024-08-31 08554105 frs-core:Non-currentFinancialInstruments 2024-08-31 08554105 frs-core:ShareCapital 2024-08-31 08554105 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 08554105 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08554105 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 08554105 frs-bus:SmallEntities 2023-09-01 2024-08-31 08554105 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08554105 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 08554105 1 2023-09-01 2024-08-31 08554105 frs-bus:Director1 2023-09-01 2024-08-31 08554105 frs-bus:Director2 2023-09-01 2024-08-31 08554105 frs-countries:EnglandWales 2023-09-01 2024-08-31 08554105 2022-08-31 08554105 2023-08-31 08554105 2022-09-01 2023-08-31 08554105 frs-core:CurrentFinancialInstruments 2023-08-31 08554105 frs-core:Non-currentFinancialInstruments 2023-08-31 08554105 frs-core:ShareCapital 2023-08-31 08554105 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 08554105
Corinthian Property Management Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Shaw Wallace
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08554105
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 495,000 495,000
495,000 495,000
CURRENT ASSETS
Debtors 5 526 131
Cash at bank and in hand 11,779 4,396
12,305 4,527
Creditors: Amounts Falling Due Within One Year 6 (268,445 ) (249,173 )
NET CURRENT ASSETS (LIABILITIES) (256,140 ) (244,646 )
TOTAL ASSETS LESS CURRENT LIABILITIES 238,860 250,354
Creditors: Amounts Falling Due After More Than One Year 7 (241,780 ) (240,000 )
NET (LIABILITIES)/ASSETS (2,920 ) 10,354
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (2,922 ) 10,352
SHAREHOLDERS' FUNDS (2,920) 10,354
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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 Mark Hoskins
Director
13/05/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Corinthian Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08554105 . The registered office is 43 Manchester Street, London, W1U 7LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting
Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below
2.2. Going Concern Disclosure
These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern.

Accordingly the directors have a reasonable expectation that the company will continue in operational existence and thus they adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue comprises rents receivable and is recognised in the period to which it relates.
2.4. 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.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had noimpairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase
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2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section
12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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 measured 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
2.7. Cash and cash equivalents
Cash and cash equivalents 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 shown within borrowings in current liabilities
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 495,000
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 524 129
Amounts owed by group undertakings 2 2
526 131
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 482 482
Accruals and deferred income 3,172 2,925
Amounts owed to group undertakings 264,791 245,766
268,445 249,173
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 241,780 240,000
Amounts owed to group undertakings are unsecured, interest free and repayable when sufficient funds become available.

The bank loans are secured by a debenture creating a fixed and floating charge over the assets of the company, as well as a floating charge over the assets of Corinthian (London) Holdings Limited Group.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
The company is a wholly owned subsidiary of Corinthian (London) Holdings Limited, and as such has taken advantage of the exemption permitted by FRS 102 Section 33 'Related party disclosures' not to provide disclosures of transactions entered into with other wholly members of the group
10. Ultimate Parent Undertaking and Controlling Party
The company is a 100% subsidiary of Corinthian (London) Holdings Limited. The parent company's
principal place of business is 56 Buckingham Gate, London, SW1E 6AE
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