Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 NI667770 Mr N C Patterson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI667770 2023-10-31 NI667770 2024-10-31 NI667770 2023-11-01 2024-10-31 NI667770 frs-core:CurrentFinancialInstruments 2024-10-31 NI667770 frs-core:Non-currentFinancialInstruments 2024-10-31 NI667770 frs-core:FurnitureFittings 2024-10-31 NI667770 frs-core:FurnitureFittings 2023-11-01 2024-10-31 NI667770 frs-core:FurnitureFittings 2023-10-31 NI667770 frs-core:InvestmentPropertyIncludedWithinPPE 2024-10-31 NI667770 frs-core:InvestmentPropertyIncludedWithinPPE 2023-11-01 2024-10-31 NI667770 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 NI667770 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 NI667770 frs-core:ShareCapital 2024-10-31 NI667770 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI667770 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI667770 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 NI667770 frs-bus:SmallEntities 2023-11-01 2024-10-31 NI667770 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 NI667770 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI667770 frs-bus:Director1 2023-11-01 2024-10-31 NI667770 frs-countries:NorthernIreland 2023-11-01 2024-10-31 NI667770 2022-10-31 NI667770 2023-10-31 NI667770 2022-11-01 2023-10-31 NI667770 frs-core:CurrentFinancialInstruments 2023-10-31 NI667770 frs-core:Non-currentFinancialInstruments 2023-10-31 NI667770 frs-core:ShareCapital 2023-10-31 NI667770 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: NI667770
Ml Property Management Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI667770
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 204,769 204,810
204,769 204,810
CURRENT ASSETS
Debtors 5 2 2
Cash at bank and in hand 6,344 -
6,346 2
Creditors: Amounts Falling Due Within One Year 6 (119,910 ) (123,454 )
NET CURRENT ASSETS (LIABILITIES) (113,564 ) (123,452 )
TOTAL ASSETS LESS CURRENT LIABILITIES 91,205 81,358
Creditors: Amounts Falling Due After More Than One Year 7 (80,278 ) (83,250 )
NET ASSETS/(LIABILITIES) 10,927 (1,892 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 10,925 (1,894 )
SHAREHOLDERS' FUNDS 10,927 (1,892)
Page 1
Page 2
For the year ending 31 October 2024 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 his 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 N C Patterson
Director
19/02/2025
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
Ml Property Management Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI667770 . The registered office is 38 Clarendon Street, Londonderry, BT48 7ET.
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.
2.2. 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.
2.3. 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:
Freehold 0
Fixtures & Fittings 10
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. 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 year 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 asset reflects 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2023 202,417 2,475 204,892
As at 31 October 2024 202,417 2,475 204,892
Depreciation
As at 1 November 2023 - 82 82
Provided during the period - 41 41
As at 31 October 2024 - 123 123
Net Book Value
As at 31 October 2024 202,417 2,352 204,769
As at 1 November 2023 202,417 2,393 204,810
5. Debtors
2024 2023
£ £
Due within one year
Called up share capital not paid 2 2
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 9,572 9,572
Corporation tax 2,858 -
Accruals and deferred income 2,043 1,838
Amounts owed to related parties 105,437 112,044
119,910 123,454
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 80,278 83,250
8. Secured Creditors
The Governor and Company of the Bank of Ireland holds as security over the bank loan a first legal charge over the property known as 38 Clarendon Street, Londonderry, being all of the lands comprised in an indenture of Fee Farm Grant dated 3 May 1950.
Of the creditors falling due within and after more than one year the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 89,850 92,822
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 2 2
Amount of Allotted, Called Up Share Capital 2 2
10. Post Balance Sheet Events
There have been no significant events affecting the company since the year end. 
11. Related Party Transactions
Property Link (Derry) Ltd is regarded as a related party as defined by Financial Reporting Standard 8 “Related Party Disclosures” by reason of Mr N Patterson and Mrs L Giacani being directors in Property Link (Derry) Ltd. Included in credtiors falling due within one year is £105,437 (2023: £112,044) owed to Property Link (Derry) Ltd.
Page 5