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Registered number: 01356189
Pantop Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 01356189
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,219,207 2,143,662
Investments 5 101 200
2,219,308 2,143,862
CURRENT ASSETS
Debtors 6 540,984 774,181
Cash at bank and in hand 128,282 49,392
669,266 823,573
Creditors: Amounts Falling Due Within One Year 7 (128,198 ) (201,277 )
NET CURRENT ASSETS (LIABILITIES) 541,068 622,296
TOTAL ASSETS LESS CURRENT LIABILITIES 2,760,376 2,766,158
Creditors: Amounts Falling Due After More Than One Year 8 (242,080 ) (284,944 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (144,757 ) (144,757 )
NET ASSETS 2,373,539 2,336,457
CAPITAL AND RESERVES
Called up share capital 11 300 300
Income Statement 2,373,239 2,336,157
SHAREHOLDERS' FUNDS 2,373,539 2,336,457
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For the year ending 30 September 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 Income Statement.
On behalf of the board
Mr Lambros Christoforou
Director
20 June 2025
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Pantop Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01356189 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
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 financial statements are prepared in sterling, which is the functional currency of the entity.
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; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 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 Non depreciable
Leasehold Straight line over duration of the lease
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
No provision for depreciation is made in respect of the freehold properties owned by the company. This departure from the requirements of the Companies Act 2006 to depreciate fixed assets over their expected useful life is in order to give a true and fair view.
2.4. Investment Properties
Investment property comprises non-owner occupied buildings held to earn rentals and for capital appreciation.
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 on the freehold investment properties. Depreciation on the leasehold investment properties is a straight line rate over the duration of the lease. Changes in fair value are recognised in the income statement.
  • 2024 fair value of Freehold investment property: £800,000 (2023: £800,000)
  • 2024 fair value of Leasehold investment property: £1,370,000 (2023: £1,370,000)
Investment property is derecognised when disposed of, or when no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property is recognised in profit or loss in the period in which the property is derecognised.
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. Taxation
The tax expense represents the sum of the corporation 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.
2.7. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
2.8. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest.
2.9. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 11)
3 11
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4. Tangible Assets
Land & Property
Freehold Leasehold Motor Vehicles Total
£ £ £ £
Cost
As at 1 October 2023 800,000 1,686,415 83,402 2,569,817
Additions - 42,910 55,393 98,303
Disposals - - (9,000 ) (9,000 )
As at 30 September 2024 800,000 1,729,325 129,795 2,659,120
Depreciation
As at 1 October 2023 - 349,014 77,141 426,155
Provided during the period - 16,935 5,609 22,544
Disposals - - (8,786 ) (8,786 )
As at 30 September 2024 - 365,949 73,964 439,913
Net Book Value
As at 30 September 2024 800,000 1,363,376 55,831 2,219,207
As at 1 October 2023 800,000 1,337,401 6,261 2,143,662
5. Investments
Unlisted
£
Cost
As at 1 October 2023 9,698
As at 30 September 2024 9,698
Provision
As at 1 October 2023 9,498
Impairment losses 99
As at 30 September 2024 9,597
Net Book Value
As at 30 September 2024 101
As at 1 October 2023 200
The company owns 100% of the issued share capital of Cosmopolitan Restaurants Limited and 99% of the issued share capital of Neatmart Limited, both dormant companies. Under the provision of section 248 of the Companies Act 1985 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity. During the financial year, impairment losses totalling £99 were recognised in the Income Statement in respect of an investment, thereby fully impairing that investment.
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6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 6,600 3,140
Other debtors 534,384 743,476
Amounts owed by group undertakings - 27,565
540,984 774,181
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,758 -
Trade creditors 28,582 33,660
Bank loans and overdrafts 10,648 10,648
Corporation tax 7,132 101,944
Other taxes and social security 3,193 5,917
VAT 1,282 5,263
Other creditors 31,132 25,195
Accruals and deferred income 12,000 17,791
Directors' loan accounts 24,471 859
128,198 201,277
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,245 -
Bank loans 8,411 18,452
Amounts owed to related parties 214,424 266,492
242,080 284,944
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,758 -
Later than one year and not later than five years 19,245 -
29,003 -
29,003 -
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 144,757 144,757
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
12. Reserves
Included in retained earnings is £247,152 (2023: £247,152) of net profits which are not available for distribution as they are unrealised.
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