Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 12349287 Mr Sean Knott Mrs Caroline Knott iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12349287 2023-12-31 12349287 2024-12-31 12349287 2024-01-01 2024-12-31 12349287 frs-core:CurrentFinancialInstruments 2024-12-31 12349287 frs-core:Non-currentFinancialInstruments 2024-12-31 12349287 frs-core:RevaluationReserve 2024-01-01 2024-12-31 12349287 frs-core:RevaluationReserve 2023-12-31 12349287 frs-core:RevaluationReserve 2024-12-31 12349287 frs-core:ShareCapital 2024-12-31 12349287 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 12349287 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12349287 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 12349287 frs-bus:SmallEntities 2024-01-01 2024-12-31 12349287 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12349287 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12349287 frs-bus:Director1 2024-01-01 2024-12-31 12349287 frs-bus:Director2 2024-01-01 2024-12-31 12349287 frs-core:Non-currentFinancialInstruments 1 2024-12-31 12349287 frs-countries:EnglandWales 2024-01-01 2024-12-31 12349287 2022-12-31 12349287 2023-12-31 12349287 2023-01-01 2023-12-31 12349287 frs-core:CurrentFinancialInstruments 2023-12-31 12349287 frs-core:Non-currentFinancialInstruments 2023-12-31 12349287 frs-core:RevaluationReserve 2023-12-31 12349287 frs-core:ShareCapital 2023-12-31 12349287 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12349287 frs-core:Non-currentFinancialInstruments 1 2023-12-31
Registered number: 12349287
Evolve Developments & Property Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Property Accounts Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12349287
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 270,000 260,000
270,000 260,000
CURRENT ASSETS
Debtors 5 52,919 4,794
Cash at bank and in hand 11,880 55,384
64,799 60,178
Creditors: Amounts Falling Due Within One Year 6 (119,293 ) (120,376 )
NET CURRENT ASSETS (LIABILITIES) (54,494 ) (60,198 )
TOTAL ASSETS LESS CURRENT LIABILITIES 215,506 199,802
Creditors: Amounts Falling Due After More Than One Year 7 (191,860 ) (191,860 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,656 ) (12,006 )
NET ASSETS/(LIABILITIES) 8,990 (4,064 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 54,801 47,451
Profit and Loss Account (45,813 ) (51,517 )
SHAREHOLDERS' FUNDS 8,990 (4,064)
Page 1
Page 2
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
Mr Sean Knott
Director
27/05/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Evolve Developments & Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12349287 . The registered office is C/O Property Accounts Limited, 59 Castle Street, Reading, RG1 7SN.
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 recognised as rental income received.
2.3. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The fair value of the investment property has been arrived at by the directors best estimate. Changes in fair value are recognised in the profit and loss account.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 January 2024 260,000
Revaluations 10,000
As at 31 December 2024 270,000
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5. Debtors
2024 2023
£ £
Due within one year
Other debtors - 2,475
Amounts owed by associates 52,919 2,319
52,919 4,794
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors - 2,475
Directors' loan accounts 119,293 117,301
Income recieved in advance - 600
119,293 120,376
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Mortgages 191,860 191,860
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Reserves
Revaluation Reserve
£
As at 1 January 2024 47,451
Surplus on revaluation 7,350
As at 31 December 2024 54,801
10. Related Party Transactions
Related party transactions include (to)/from: 
£52,919 (2023 £2,319) owed from 1610 Property Limited, a company of which Sean Knott is a shareholder.
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