Acorah Software Products - Accounts Production 16.3.350 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 12001627 Mr Neil French Mrs Stephanie French Mr Neil French true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12001627 2023-05-31 12001627 2024-05-31 12001627 2023-06-01 2024-05-31 12001627 frs-core:CurrentFinancialInstruments 2024-05-31 12001627 frs-core:Non-currentFinancialInstruments 2024-05-31 12001627 frs-core:FurnitureFittings 2024-05-31 12001627 frs-core:FurnitureFittings 2023-06-01 2024-05-31 12001627 frs-core:FurnitureFittings 2023-05-31 12001627 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 12001627 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 12001627 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 12001627 frs-core:ShareCapital 2024-05-31 12001627 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 12001627 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12001627 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 12001627 frs-bus:SmallEntities 2023-06-01 2024-05-31 12001627 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12001627 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12001627 1 2023-06-01 2024-05-31 12001627 frs-bus:Director1 2023-06-01 2024-05-31 12001627 frs-bus:Director2 2023-06-01 2024-05-31 12001627 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 12001627 frs-countries:EnglandWales 2023-06-01 2024-05-31 12001627 2022-05-31 12001627 2023-05-31 12001627 2022-06-01 2023-05-31 12001627 frs-core:CurrentFinancialInstruments 2023-05-31 12001627 frs-core:Non-currentFinancialInstruments 2023-05-31 12001627 frs-core:ShareCapital 2023-05-31 12001627 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 12001627
Porth Strand Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Optimise Accountants Ltd
Office 15 Bramley House, 2a Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12001627
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 527,136 540,143
Investment Properties 5 166,306 166,306
693,442 706,449
CURRENT ASSETS
Debtors 6 92,453 344,985
Investments 7 200 100
Cash at bank and in hand 17,532 5,007
110,185 350,092
Creditors: Amounts Falling Due Within One Year 8 (111,835 ) (109,527 )
NET CURRENT ASSETS (LIABILITIES) (1,650 ) 240,565
TOTAL ASSETS LESS CURRENT LIABILITIES 691,792 947,014
Creditors: Amounts Falling Due After More Than One Year 9 (1,060,891 ) (1,028,515 )
NET LIABILITIES (369,099 ) (81,501 )
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account (369,101 ) (81,503 )
SHAREHOLDERS' FUNDS (369,099) (81,501)
Page 1
Page 2
For the year ending 31 May 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
Mrs Stephanie French
Director
11/04/2025
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
Porth Strand Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12001627 . The registered office is 5 Deben Down Deben Down, Mansfield Woodhouse, Mansfield, NG19 9SL.
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. 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.
2.4. 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 no depreciation
Fixtures & Fittings 20% reducing balance basis
2.5. 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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 527,136 27,384 554,520
Disposals - (27,384 ) (27,384 )
As at 31 May 2024 527,136 - 527,136
Depreciation
As at 1 June 2023 - 14,377 14,377
Disposals - (14,377 ) (14,377 )
As at 31 May 2024 - - -
Net Book Value
As at 31 May 2024 527,136 - 527,136
As at 1 June 2023 527,136 13,007 540,143
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 166,306
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 50,300 -
Other debtors 8,698 1,080
Amounts owed by subsidiaries 33,455 33,455
Amounts owed by associates - 310,450
92,453 344,985
7. Current Asset Investments
2024 2023
£ £
Unlisted investments 200 100
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 94,520 -
Accruals and deferred income 1 -
Directors' loan accounts 17,314 109,527
111,835 109,527
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,060,891 1,028,515
10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts - 1,028,515
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
12. Related Party Transactions
Included within Debtors is an amount totalling £33,455 (2023: £33,455) owed by Porth Strand Developments Ltd, a company registered in England & Wales. The amount is loaned interest-free and is repayable upon demand.
Porth Strand Developments Ltd is a wholly owned subsidiary of Porth Strand Ltd. The directors Mr Neil French and Mrs Stephanie French are directors of both companies.
13. Ultimate Controlling Party
There is no ultimate controlling party due to the shares being held equally.
Page 5