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Registered number: 12314780
Rentapad Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2024 and you consider that the company is exempt from an audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
09/06/2025
Jubilee House East Beach
Lytham St.Annes
Lancashire
FY8 5FT
Page 1
Page 2
Balance Sheet
Registered number: 12314780
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 195,000 185,000
195,000 185,000
CURRENT ASSETS
Debtors 5 - 50
Cash at bank and in hand 15,640 14,041
15,640 14,091
Creditors: Amounts Falling Due Within One Year 6 (1,431 ) (1,272 )
NET CURRENT ASSETS (LIABILITIES) 14,209 12,819
TOTAL ASSETS LESS CURRENT LIABILITIES 209,209 197,819
Creditors: Amounts Falling Due After More Than One Year 7 (157,397 ) (157,397 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,130 ) (7,072 )
NET ASSETS 42,682 33,350
CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 38,920 30,977
Profit and Loss Account 3,662 2,273
SHAREHOLDERS' FUNDS 42,682 33,350
Page 2
Page 3
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
Mr David Holden
Director
09/06/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Rentapad Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12314780 . The registered office is Hillside, Southport Road, Chorley, PR7 1NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statement have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Going concern
These financial statements are prepared on a going concern basis. The Directors have every expectation that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due.
Thus the Directors consider it appropriate to prepare these financial statements on a going concern basis.
Cash at bank and in hand
Cash at bank and in hand 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 showing within borrowings in current liabilities.
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 represents gross rents received 
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 revalued
2.5. 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 surplus or deficit on revaluation is recognised in profit or loss.
2.6. 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 measure 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 arrangement 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 and loans from fellow group companies 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.
...CONTINUED
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2.6. Financial Instruments - continued
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.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.7. 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: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 December 2023 185,000
Revaluations 10,000
As at 30 November 2024 195,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 50
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 182 679
Other creditors 1,215 580
Accruals and deferred income 34 13
1,431 1,272
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 157,397 157,397
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Fair Value Reserve
£
As at 1 December 2023 30,977
Transfer to profit and loss 7,943
As at 30 November 2024 38,920
Page 6