Acorah Software Products - Accounts Production 16.4.675 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 06621731 Mrs Beverley Hart Mr Harry Hart Mrs Nicola Catanzaro Mr Robert Catanzaro iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06621731 2023-06-30 06621731 2024-06-30 06621731 2023-07-01 2024-06-30 06621731 frs-core:CurrentFinancialInstruments 2024-06-30 06621731 frs-core:Non-currentFinancialInstruments 2024-06-30 06621731 frs-core:ComputerEquipment 2024-06-30 06621731 frs-core:ComputerEquipment 2023-07-01 2024-06-30 06621731 frs-core:ComputerEquipment 2023-06-30 06621731 frs-core:FurnitureFittings 2024-06-30 06621731 frs-core:FurnitureFittings 2023-07-01 2024-06-30 06621731 frs-core:FurnitureFittings 2023-06-30 06621731 frs-core:MotorVehicles 2024-06-30 06621731 frs-core:MotorVehicles 2023-07-01 2024-06-30 06621731 frs-core:MotorVehicles 2023-06-30 06621731 frs-core:PlantMachinery 2024-06-30 06621731 frs-core:PlantMachinery 2023-07-01 2024-06-30 06621731 frs-core:PlantMachinery 2023-06-30 06621731 frs-core:RevaluationReserve 2023-07-01 2024-06-30 06621731 frs-core:RevaluationReserve 2023-06-30 06621731 frs-core:RevaluationReserve 2024-06-30 06621731 frs-core:ShareCapital 2024-06-30 06621731 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06621731 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06621731 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 06621731 frs-bus:SmallEntities 2023-07-01 2024-06-30 06621731 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06621731 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06621731 frs-bus:Director1 2023-07-01 2024-06-30 06621731 frs-bus:Director2 2023-07-01 2024-06-30 06621731 frs-bus:Director3 2023-07-01 2024-06-30 06621731 frs-bus:Director4 2023-07-01 2024-06-30 06621731 frs-countries:EnglandWales 2023-07-01 2024-06-30 06621731 2022-06-30 06621731 2023-06-30 06621731 2022-07-01 2023-06-30 06621731 frs-core:CurrentFinancialInstruments 2023-06-30 06621731 frs-core:Non-currentFinancialInstruments 2023-06-30 06621731 frs-core:WithinOneYear 2023-06-30 06621731 frs-core:RevaluationReserve 2023-06-30 06621731 frs-core:ShareCapital 2023-06-30 06621731 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 06621731
Specialist Business Units Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Howards Accountants
Suite 17
Camborne Business Centre
Camborne
Cornwall
TR14 7DB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06621731
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,942 37,704
Investment Properties 5 8,406,485 7,844,992
8,435,427 7,882,696
CURRENT ASSETS
Debtors 6 324,072 395,741
Cash at bank and in hand (75 ) 155,339
323,997 551,080
Creditors: Amounts Falling Due Within One Year 7 (800,289 ) (387,352 )
NET CURRENT ASSETS (LIABILITIES) (476,292 ) 163,728
TOTAL ASSETS LESS CURRENT LIABILITIES 7,959,135 8,046,424
Creditors: Amounts Falling Due After More Than One Year 8 (3,564,208 ) (3,943,633 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (768,354 ) (678,298 )
NET ASSETS 3,626,573 3,424,493
CAPITAL AND RESERVES
Called up share capital 10 1,004 1,004
Revaluation reserve 11 3,275,614 2,999,404
Profit and Loss Account 349,955 424,085
SHAREHOLDERS' FUNDS 3,626,573 3,424,493
Page 1
Page 2
For the year ending 30 June 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 Robert Catanzaro
Director
11th July 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Specialist Business Units Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06621731 . The registered office is Suite 17 Camborne Business C, Weeth Lane, Camborne, Cornwall, TR14 7DB.
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 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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 3 years straight line
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. 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 profit and loss account 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 the profit and loss account as incurred.
Page 3
Page 4
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 July 2023 212,668 32,201 46,070 9,680 300,619
Additions - - - 849 849
As at 30 June 2024 212,668 32,201 46,070 10,529 301,468
Depreciation
As at 1 July 2023 184,964 24,560 43,711 9,680 262,915
Provided during the period 6,926 1,910 492 283 9,611
As at 30 June 2024 191,890 26,470 44,203 9,963 272,526
Net Book Value
As at 30 June 2024 20,778 5,731 1,867 566 28,942
As at 1 July 2023 27,704 7,641 2,359 - 37,704
Page 4
Page 5
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 7,844,992
Additions 220,493
Revaluations 341,000
As at 30 June 2024 8,406,485
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 4,362,031 4,062,031
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,811 35,713
Prepayments and accrued income 25 11,987
Other debtors 321,236 316,780
VAT - 28,494
Directors' loan accounts - 2,767
324,072 395,741
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 18,040
Trade creditors 119,572 159,973
Bank loans and overdrafts 339,354 144,685
Corporation tax 65,974 -
VAT 29,655 -
Other creditors 38,041 11,324
Accruals and deferred income 3,500 3,500
Directors' loan accounts 204,193 49,830
800,289 387,352
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,561,066 3,936,997
Other taxes and social security 3,142 6,636
3,564,208 3,943,633
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 18,040
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,004 1,004
11. Reserves
Revaluation Reserve
£
As at 1 July 2023 2,999,404
Transfer to profit and loss 276,210
As at 30 June 2024 3,275,614
Page 6