Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 30 September 2024 30 September 2024 14438505 Mrs Danielle Vollentine Mr Adam Freibach Mr Christopher Emery Mr Daniel Vollentine iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14438505 2023-10-31 14438505 2024-09-30 14438505 2023-11-01 2024-09-30 14438505 frs-core:CurrentFinancialInstruments 2024-09-30 14438505 frs-core:RevaluationReserve 2024-09-30 14438505 frs-core:ShareCapital 2024-09-30 14438505 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 14438505 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-09-30 14438505 frs-bus:FilletedAccounts 2023-11-01 2024-09-30 14438505 frs-bus:SmallEntities 2023-11-01 2024-09-30 14438505 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-09-30 14438505 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-09-30 14438505 frs-bus:Director1 2023-11-01 2024-09-30 14438505 frs-bus:Director2 2023-11-01 2024-09-30 14438505 frs-bus:Director3 2023-11-01 2024-09-30 14438505 frs-bus:Director4 2023-11-01 2024-09-30 14438505 frs-countries:EnglandWales 2023-11-01 2024-09-30 14438505 2022-10-31 14438505 2023-10-31 14438505 2022-11-01 2023-10-31 14438505 frs-core:CurrentFinancialInstruments 2023-10-31 14438505 frs-core:RevaluationReserve 2023-10-31 14438505 frs-core:ShareCapital 2023-10-31 14438505 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 14438505
ADNC Projects (Holdings) Limited
Unaudited Financial Statements
For the Period 1 November 2023 to 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14438505
30 September 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 425,000 212,676
425,000 212,676
CURRENT ASSETS
Stocks 5 374 -
Debtors 6 35,666 2,661
Cash at bank and in hand 4,766 1,513
40,806 4,174
Creditors: Amounts Falling Due Within One Year 7 (456,424 ) (220,895 )
NET CURRENT ASSETS (LIABILITIES) (415,618 ) (216,721 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,382 (4,045 )
NET ASSETS/(LIABILITIES) 9,382 (4,045 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Non-distributable reserve 25,278 -
Profit and Loss Account (15,996 ) (4,145 )
SHAREHOLDERS' FUNDS 9,382 (4,045)
Page 1
Page 2
For the period 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 Profit and Loss Account.
On behalf of the board
Mrs Danielle Vollentine
Director
Mr Adam Freibach
Director
Mr Christopher Emery
Director
Mr Daniel Vollentine
Director
11/12/2024
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
ADNC Projects (Holdings) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14438505 . The registered office is Wellington House, Otley Street, Skipton, BD23 1EL.
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 represents amounts chargeable in respect of rents and service charges.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that
future economic benefits will flow to the entity.
2.3. 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.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
2.5. Financial Instruments
Financial assets
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless
the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the
future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at
amortised cost using the effective interest rate method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying
amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.
The impairment loss and any subsequent reversal is recognised in the profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are
settled or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party
or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell
the asset to an unrelated party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables and bank loans, 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 receipts discounted at a market rate of interest for a similar debt
instrument.
Debt instrument are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is
discharged, cancelled or expires
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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 period, 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 period was: NIL (2023: NIL)
- -
4. Investment Property
30 September 2024
£
Fair Value
As at 1 November 2023 212,676
Additions 178,954
Fair value adjustments 33,370
As at 30 September 2024 425,000
During the year a valuation has been undertaken on the property by Walker Singleton (Residential) Limited an independent RICS registered valuer to determine the current market value.
5. Stocks
30 September 2024 31 October 2023
£ £
Other inventories 374 -
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Page 5
6. Debtors
30 September 2024 31 October 2023
£ £
Due within one year
Trade debtors 1,992 -
Other debtors 33,674 2,661
35,666 2,661
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 31 October 2023
£ £
Trade creditors 146,030 -
Bank loans and overdrafts 214,470 151,875
Other creditors 95,924 69,020
456,424 220,895
Creditors due within one year include loans of £214,470 which are secured by a fixed and floating charge over all the property or undertaking of the company.
8. Share Capital
2024
2023
Allotted, called up and fully paid
£
£
20 Ordinary A shares of £1 each
20
20
20 Ordinary B shares of £1 each
20
20
21 Ordinary C shares of £1 each
21
21
10 Ordinary D shares of £1 each
10
10
10 Ordinary E shares of £1 each
10
10
10 Ordinary F shares of £1 each
10
10
9  Ordinary G shares of £1 each
9
9
100
image
100
image
9. Loans and Borrowings
2024
2023
£
£
Current loans and borrowings
Bank borrowings
214.470
image
151.875
image
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