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Registered number: 11882467
Conkat Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11882467
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 313
Investment Properties 5 210,000 203,927
210,000 204,240
CURRENT ASSETS
Cash at bank and in hand 9,566 32,925
9,566 32,925
Creditors: Amounts Falling Due Within One Year 6 (251,008 ) (2,940 )
NET CURRENT ASSETS (LIABILITIES) (241,442 ) 29,985
TOTAL ASSETS LESS CURRENT LIABILITIES (31,442 ) 234,225
Creditors: Amounts Falling Due After More Than One Year 7 - (250,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,154 ) -
NET LIABILITIES (32,596 ) (15,775 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Non-distributable Reserve 4,919 -
Profit and Loss Account (37,615 ) (15,875 )
SHAREHOLDERS' FUNDS (32,596) (15,775)
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
K D McDonagh
Director
14/05/2025
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
Conkat Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11882467 . The registered office is Suite 17, The Granary Hones Yard, 1 Waverley Lane, Farnham, Surrey, GU9 8BB.
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 director has taken the decision to cease trading within the next 12 months and that it is not appropriate to adopt a going concern basis of preparation in these financial statements. The director has made an assessment on the recoverability of the assets and likelihood of repayment of liabilities and has determined there is no impact on the carrying value held in these financial statements.
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 rental of properties owned. Revenue is recognised in the month in which the rentals fall due.
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:
Fixtures & Fittings 20% straight line
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. 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.
2.7. Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank and other loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Page 4
2.8. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not
more than 24 hours.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 April 2024 1,570
As at 31 March 2025 1,570
Depreciation
As at 1 April 2024 1,257
Provided during the period 313
As at 31 March 2025 1,570
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 313
5. Investment Property
2025
£
Fair Value
As at 1 April 2024 203,927
Fair value adjustments 6,073
As at 31 March 2025 210,000
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other loans 250,000 -
Other creditors 1,008 1,474
Taxation and social security - 1,466
251,008 2,940
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other loans - 250,000
8. Share Capital
2025 2024
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 4