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Registered number: 01972407
Acksam Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Base52 Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01972407
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,702,722 9,911,545
9,702,722 9,911,545
CURRENT ASSETS
Debtors 5 91,240 95,852
Cash at bank and in hand 176,578 1,102,137
267,818 1,197,989
Creditors: Amounts Falling Due Within One Year 6 (21,788 ) (4,877 )
NET CURRENT ASSETS (LIABILITIES) 246,030 1,193,112
TOTAL ASSETS LESS CURRENT LIABILITIES 9,948,752 11,104,657
Creditors: Amounts Falling Due After More Than One Year 7 (4,700,098 ) (5,587,136 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (481,188 ) (549,258 )
NET ASSETS 4,767,466 4,968,263
CAPITAL AND RESERVES
Called up share capital 9 250 250
Profit and Loss Account 4,767,216 4,968,013
SHAREHOLDERS' FUNDS 4,767,466 4,968,263
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For the year ending 31 December 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
S J Hemingway
Director
22/05/2025
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
Acksam Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01972407 . The registered office is 14 Park Lane, Knebworth, Herts, SG3 6PF.
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
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.
2.5. 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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 January 2024 9,911,545
Additions 36,277
Revaluation (245,100 )
As at 31 December 2024 9,702,722
Net Book Value
As at 31 December 2024 9,702,722
As at 1 January 2024 9,911,545
Cost or valuation as at 31 December 2024 represented by:
Investment Properties
£
At cost 6,520,723
At valuation 3,181,999
9,702,722
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,702 1,739
Due after more than one year
Other debtors 70,538 94,113
91,240 95,852
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 17,588 677
Accruals and deferred income 4,200 4,200
21,788 4,877
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,773,700 3,773,700
Directors loan account 926,398 1,813,436
4,700,098 5,587,136
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured. In respect of each investment property, there is a separate loan secured by a first charge on that property in favour of the lending institution Yorkshire Building Society. 
2024 2023
£ £
Bank loans and overdrafts 3,773,700 3,773,700
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 250 250
10. Pension Commitments
The company operates The Freshfield Analysis Small Self Administered Pension Scheme (FASSAS), which is a defined contribution scheme, for the benefit of both of its directors. The assets of the scheme are held separately from those of the company in independently administered funds. The pension charge amounted to £50,000 (2023: £nil) which represents contributions to the fund by the company. 
11. Related Party Transactions
Included within creditors is a director's loan account balance of £926,398 (2023 : £1,813,436).  This loan is interest free and repayable on demand.
Caxton Advisors Ltd is a company in which S J Hemingway is a director.  Acksam Ltd received services totalling £25,000 (2023 - £40,000) from Caxton Advisors Ltd. 
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