Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 04865744 Mrs L Hawkins Mr M R Hawkins iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04865744 2023-08-31 04865744 2024-08-31 04865744 2023-09-01 2024-08-31 04865744 frs-core:CurrentFinancialInstruments 2024-08-31 04865744 frs-core:Non-currentFinancialInstruments 2024-08-31 04865744 frs-core:ComputerEquipment 2024-08-31 04865744 frs-core:ComputerEquipment 2023-09-01 2024-08-31 04865744 frs-core:ComputerEquipment 2023-08-31 04865744 frs-core:FurnitureFittings 2023-09-01 2024-08-31 04865744 frs-core:MotorVehicles 2024-08-31 04865744 frs-core:MotorVehicles 2023-09-01 2024-08-31 04865744 frs-core:MotorVehicles 2023-08-31 04865744 frs-core:PlantMachinery 2024-08-31 04865744 frs-core:PlantMachinery 2023-09-01 2024-08-31 04865744 frs-core:PlantMachinery 2023-08-31 04865744 frs-core:ShareCapital 2024-08-31 04865744 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 04865744 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04865744 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 04865744 frs-bus:SmallEntities 2023-09-01 2024-08-31 04865744 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04865744 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04865744 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31 04865744 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-08-31 04865744 frs-bus:Director1 2023-09-01 2024-08-31 04865744 frs-bus:Director2 2023-09-01 2024-08-31 04865744 frs-countries:EnglandWales 2023-09-01 2024-08-31 04865744 2022-08-31 04865744 2023-08-31 04865744 2022-09-01 2023-08-31 04865744 frs-core:CurrentFinancialInstruments 2023-08-31 04865744 frs-core:Non-currentFinancialInstruments 2023-08-31 04865744 frs-core:ShareCapital 2023-08-31 04865744 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 04865744 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31
Registered number: 04865744
Drivepoint Contractors Properties Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Harpers Accountancy LLP
PO Box 293
Lewes
BN7 9PG
Drivepoint Contractors Properties Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—7

Page 1
Drivepoint Contractors Properties Limited
Balance Sheet
As At 31 August 2024
Balance Sheet
Registered number: 04865744

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 1,569 |  | 6,039
Investment Properties | 5 |  | 1,635,000 |  | 1,635,000
|  |  | 1,636,569 |  | 1,641,039
CURRENT ASSETS
Debtors | 6 | 4,561 |  | 5,538 |
Cash at bank and in hand |  | 89,918 |  | 366,187 |
|  | 94,479 |  | 371,725 |
Creditors: Amounts Falling Due Within One Year | 7 | (62,378 ) |  | (360,992 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 32,101 |  | 10,733
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,668,670 |  | 1,651,772
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (1,142,728 ) |  | (1,154,979 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (50,739 ) |  | (50,739 )
NET ASSETS |  |  | 475,203 |  | 446,054
CAPITAL AND RESERVES
Called up share capital | 9 |  | 106 |  | 106
Fair value reserve | 10 |  | 54,129 |  | 54,129
Profit and Loss Account |  |  | 420,968 |  | 391,819
SHAREHOLDERS' FUNDS |  |  | 475,203 |  | 446,054

Page 1
Page 2
Drivepoint Contractors Properties Limited
Balance Sheet (continued)
As At 31 August 2024
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

Mrs L Hawkins Director | Mr M R Hawkins Director
22/05/2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Drivepoint Contractors Properties Limited
Notes to the Financial Statements
For The Year Ended 31 August 2024
Notes to the Financial Statements
1. General Information
Drivepoint Contractors Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04865744 . The registered office is 3 Queen Square, London, WC1N 3AR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. 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 £.
2.2. 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, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
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 | 33.33% Straight line
Motor Vehicles | 33.33% Straight line
Fixtures & Fittings | 12.50% Straignt line
Computer Equipment | 33.33% Straignt line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Impairment of fixed assets
...CONTINUED
Page 3
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Drivepoint Contractors Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2024
2.3. Tangible Fixed Assets and Depreciation - continued
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
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. 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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.
Page 4
Page 5
Drivepoint Contractors Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2024
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Current 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
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Cash at bank and in hand
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.
2.8. Lease
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2.9. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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Drivepoint Contractors Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2024
4. Tangible Assets

| Plant & Machinery | Motor Vehicles | Computer Equipment | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
Cost or Valuation
As at 1 September 2023 | 7,341 | 23,796 | 6,120 | 37,257
As at 31 August 2024 | 7,341 | 23,796 | 6,120 | 37,257
Depreciation
As at 1 September 2023 | 3,926 | 22,850 | 4,442 | 31,218
Provided during the period | 1,902 | 946 | 1,622 | 4,470
As at 31 August 2024 | 5,828 | 23,796 | 6,064 | 35,688
Net Book Value
As at 31 August 2024 | 1,513 | - | 56 | 1,569
As at 1 September 2023 | 3,415 | 946 | 1,678 | 6,039

Cost or valuation as at 31 August 2024 represented by:

| Plant & Machinery | Motor Vehicles | Computer Equipment | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
At cost | 7,341 | 23,796 | 6,120 | 37,257
| 7,341 | 23,796 | 6,120 | 37,257

Investment property comprises mixed use property, including offices, workshops/storage, other outbuildings and yard space. The fair value of the investment property has been arrived at on the basis of a valuation carried out as at 29 January 2024 by Bruton Knowles Limited who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors are satisfied that this valuation is appropriate to use at 31 August 2024.
As of 10 May 2024, Cambridge & Counties Bank holds fixed and floating charges over the undertaking and all property and assets of the company.
5. Investment Property

| 2024
--- | ---
| £
Fair Value
As at 1 September 2023 and 31 August 2024 | 1,635,000

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Drivepoint Contractors Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2024
6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 4,561 |  | 5,538

7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 34 |  | 667
Bank loans and overdrafts | 14,219 |  | 323,769
Other creditors | 34,142 |  | 8,017
Taxation and social security | 13,983 |  | 28,539
| 62,378 |  | 360,992

8. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans | 901,220 |  | 914,426
Other creditors | 241,508 |  | 240,553
| 1,142,728 |  | 1,154,979

The long term loans are secured by fixed and floating charges.
9. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 106 |  | 106

10. Reserves

| Fair Value Reserve
--- | ---
| £
As at 1 September 2023 | 54,129
As at 31 August 2024 | 54,129

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