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Registered number: 11343969
Livermead Cliff Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11343969
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 60,074 64,391
Tangible Assets 5 4,122,518 4,127,980
Investments 6 1 1
4,182,593 4,192,372
CURRENT ASSETS
Stocks 24,479 20,502
Debtors 7 59,515 76,807
Cash at bank and in hand 260,634 263,397
344,628 360,706
Creditors: Amounts Falling Due Within One Year 8 (521,387 ) (455,148 )
NET CURRENT ASSETS (LIABILITIES) (176,759 ) (94,442 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,005,834 4,097,930
Creditors: Amounts Falling Due After More Than One Year 9 (779,489 ) (868,710 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (52,541 ) (53,053 )
NET ASSETS 3,173,804 3,176,167
CAPITAL AND RESERVES
Called up share capital 12 2,883,997 2,883,997
Profit and Loss Account 289,807 292,170
SHAREHOLDERS' FUNDS 3,173,804 3,176,167
Page 1
Page 2
For the year ending 30 November 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
A C Rew
Director
22 May 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Livermead Cliff Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11343969 . The registered office is Haldon House, 4 Castle Road, Torquay, Devon, TQ1 3BG.
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 financial statements have been prepared on the going concern basis albeit that there are net current liabilities reported on the balance sheet.
The directors have reviewed the management figures since the balance sheet date and a cash flow forecast for the current financial year and are satisfied that the company will continue to trade profitably and that it has the finances in place to do so.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 
Turnover in respect of hotel accommodation and events, such as weddings, is recognised at the date of the stay or event. Deposits received in advance are deferred until this date. Other sales are recognised on the day of delivery.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. 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 None
Motor Vehicles 10% on reducing balance
Fixtures & Fittings 10% on reducing balance
No depreciation is provided on freehold property, as the directors consider that the residual value of the company's properties is such that depreciation would be immaterial. The company has a policy and practice of regular maintenance and repair, charges for which are recognised in the profit and loss account, such that these assets are kept to their previously assessed standard of performance and the properties are unlikely to suffer from economic or technological obsolescence.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.  
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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Page 4
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.8. 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.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 51 (2023: 55)
51 55
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 86,333
As at 30 November 2024 86,333
...CONTINUED
Page 4
Page 5
Amortisation
As at 1 December 2023 21,942
Provided during the period 4,317
As at 30 November 2024 26,259
Net Book Value
As at 30 November 2024 60,074
As at 1 December 2023 64,391
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 December 2023 3,896,787 329,435 4,226,222
Additions - 18,329 18,329
As at 30 November 2024 3,896,787 347,764 4,244,551
Depreciation
As at 1 December 2023 - 98,242 98,242
Provided during the period - 23,791 23,791
As at 30 November 2024 - 122,033 122,033
Net Book Value
As at 30 November 2024 3,896,787 225,731 4,122,518
As at 1 December 2023 3,896,787 231,193 4,127,980
6. Investments
Subsidiaries
£
Cost
As at 1 December 2023 1
As at 30 November 2024 1
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 1
As at 1 December 2023 1
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Page 6
Fixed asset investments represent investment in subsidiaries and are recognised at cost.
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,466 20,369
Other debtors 54,049 56,438
59,515 76,807
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,783 9,472
Trade creditors 89,364 74,241
Bank loans and overdrafts 79,438 79,438
Other creditors 218,435 202,481
Taxation and social security 124,367 89,516
521,387 455,148
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,114 14,898
Bank loans 699,375 778,812
Other creditors 75,000 75,000
779,489 868,710
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 416,622 486,060
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10. Secured Creditors
Of the creditors the following amounts are secured.
The bank loans and borrowings are secured by way of fixed and floating charges over the company's property and other assets.
Hire purchase and finance lease liabilities are secured against the assets to which the contracts relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,897 24,370
Bank loans and overdrafts 763,813 833,250
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,783 9,472
Later than one year and not later than five years 5,114 14,898
14,897 24,370
14,897 24,370
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,883,997 2,883,997
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mrs Sylvia Rew 3,340 9,937 13,277 - -
Mr Anthony Rew 33,829 56,232 54,030 - 36,031
The above loans are unsecured and repayable on demand and interest is charged at 2.25% pa on overdrawn balances.
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