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 05999323 T N Chastney D R Jones M Easton D R Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05999323 2023-08-31 05999323 2024-08-31 05999323 2023-09-01 2024-08-31 05999323 frs-core:ShareCapital 2024-08-31 05999323 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 05999323 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05999323 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 05999323 frs-bus:SmallEntities 2023-09-01 2024-08-31 05999323 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 05999323 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05999323 frs-bus:Director1 2023-09-01 2024-08-31 05999323 frs-bus:Director2 2023-09-01 2024-08-31 05999323 frs-bus:Director3 2023-09-01 2024-08-31 05999323 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 05999323 frs-countries:EnglandWales 2023-09-01 2024-08-31 05999323 2022-08-31 05999323 2023-08-31 05999323 2022-09-01 2023-08-31 05999323 frs-core:ShareCapital 2023-08-31 05999323 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Hotwells Developments Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 05999323
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 300,000 300,000
300,000 300,000
CURRENT ASSETS
Debtors 5 - 90,000
Cash at bank and in hand 32,210 10,503
32,210 100,503
Creditors: Amounts Falling Due Within One Year 6 (2,584 ) (69,640 )
NET CURRENT ASSETS (LIABILITIES) 29,626 30,863
TOTAL ASSETS LESS CURRENT LIABILITIES 329,626 330,863
NET ASSETS 329,626 330,863
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 329,622 330,859
SHAREHOLDERS' FUNDS 329,626 330,863
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
T N Chastney
Director
15/05/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Hotwells Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05999323 . The registered office is 30 Whiteladies Road, Clifton, Bristol, BS8 2LG.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.
Short term debtors are measured at transaction price less any impairment.
Short term creditors are measured at transaction price.
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 300,000
Investment Properties have been valued by the directrors at the year end on an open market basis on information afforded by recent professional valuations of similar properties and by advice provided by external valuers.
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 266,972 266,972
5. Debtors
2024 2023
£ £
Due within one year
Other debtors - 90,000
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 2,584 69,640
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
8. Contingent Liabilities
2024 2023
£ £
At the end of the period 3,347,500 4,222,500
The company is party to a composite guarantee in favour of Svenska Handelsbanken AB (publ) in respect of the bank loans of Triangle Properties (Bristol) Limited and Avonco (Bristol) Limited which are companies under the common control of the directors. The bank holds security in the form of an unlimited debenture over the company's assets and a fixed charge over its investment property.
9. Reserves
Retained earnings include both realised and unrealised profits.
Page 3