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 03237853 Mr Iftikhar Ahmed Mr Mahomed Abdul Gaffar Mrs Parveen Ahmed iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03237853 2023-10-31 03237853 2024-10-31 03237853 2023-11-01 2024-10-31 03237853 frs-core:CurrentFinancialInstruments 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 2024-10-31 03237853 frs-core:ComputerEquipment 2024-10-31 03237853 frs-core:ComputerEquipment 2023-11-01 2024-10-31 03237853 frs-core:ComputerEquipment 2023-10-31 03237853 frs-core:FurnitureFittings 2023-11-01 2024-10-31 03237853 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 03237853 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 03237853 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 03237853 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 03237853 frs-core:MotorVehicles 2024-10-31 03237853 frs-core:MotorVehicles 2023-11-01 2024-10-31 03237853 frs-core:MotorVehicles 2023-10-31 03237853 frs-core:PlantMachinery 2024-10-31 03237853 frs-core:PlantMachinery 2023-11-01 2024-10-31 03237853 frs-core:PlantMachinery 2023-10-31 03237853 frs-core:ShareCapital 2024-10-31 03237853 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 03237853 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03237853 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 03237853 frs-bus:SmallEntities 2023-11-01 2024-10-31 03237853 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 03237853 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 03237853 frs-bus:Director1 2023-11-01 2024-10-31 03237853 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 03237853 frs-bus:CompanySecretary2 2023-11-01 2024-10-31 03237853 frs-core:CurrentFinancialInstruments 1 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 1 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 2 2024-10-31 03237853 frs-core:CurrentFinancialInstruments 3 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 3 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 4 2024-10-31 03237853 frs-core:CurrentFinancialInstruments 5 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 5 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 6 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 7 2024-10-31 03237853 frs-core:Non-currentFinancialInstruments 8 2024-10-31 03237853 frs-countries:EnglandWales 2023-11-01 2024-10-31 03237853 2022-10-31 03237853 2023-10-31 03237853 2022-11-01 2023-10-31 03237853 frs-core:CurrentFinancialInstruments 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 2023-10-31 03237853 frs-core:ShareCapital 2023-10-31 03237853 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 03237853 frs-core:CurrentFinancialInstruments 1 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 1 2023-10-31 03237853 frs-core:CurrentFinancialInstruments 2 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 2 2023-10-31 03237853 frs-core:CurrentFinancialInstruments 3 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 3 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 4 2023-10-31 03237853 frs-core:CurrentFinancialInstruments 5 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 5 2023-10-31 03237853 frs-core:CurrentFinancialInstruments 6 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 6 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 7 2023-10-31 03237853 frs-core:Non-currentFinancialInstruments 8 2023-10-31
Registered number: 03237853
Payless Group Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Taxaudit Accountants Ltd
Chartered Certified Accountants
170 Church Road Mitcham
Surrey
CR4 3BW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03237853
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,546,833 14,571,712
14,546,833 14,571,712
CURRENT ASSETS
Debtors 5 12,326,038 11,812,915
Cash at bank and in hand 609,701 891,053
12,935,739 12,703,968
Creditors: Amounts Falling Due Within One Year 6 (7,546,393 ) (7,150,263 )
NET CURRENT ASSETS (LIABILITIES) 5,389,346 5,553,705
TOTAL ASSETS LESS CURRENT LIABILITIES 19,936,179 20,125,417
Creditors: Amounts Falling Due After More Than One Year 7 (7,524,269 ) (7,744,615 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (723,536 ) (723,536 )
NET ASSETS 11,688,374 11,657,266
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 11,688,372 11,657,264
SHAREHOLDERS' FUNDS 11,688,374 11,657,266
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 Iftikhar Ahmed
Director
21/07/2025
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
Payless Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03237853 . The registered office is 170 Church Road, Mitcham, Surrey, CR4 3BW.
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:
Freehold -
Leasehold -
Plant & Machinery 25% RBM
Motor Vehicles 25% RBM
Fixtures & Fittings 25% RBM
Computer Equipment 25% RBM
2.4. 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.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 November 2023 14,510,000 47,624 29,870 76,481 14,663,975
Disposals - - (29,870 ) - (29,870 )
As at 31 October 2024 14,510,000 47,624 - 76,481 14,634,105
Depreciation
As at 1 November 2023 - 22,499 17,269 52,495 92,263
Provided during the period - 6,281 - 5,997 12,278
Disposals - - (17,269 ) - (17,269 )
As at 31 October 2024 - 28,780 - 58,492 87,272
Net Book Value
As at 31 October 2024 14,510,000 18,844 - 17,989 14,546,833
As at 1 November 2023 14,510,000 25,125 12,601 23,986 14,571,712
Fixture & Fitting WDV of £924,033 of year ending October 2021 is recoded to Land & Buinding (Freehold).
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,000 -
Payless Metro Ltd. 24,894 -
Watson's Dairies Limited - 100,000
48,894 100,000
Due after more than one year
Black Stone Capital Ltd 705,100 775,100
London City Assets Ltd. 656,329 202,000
Low Price Ltd 3,301,395 3,301,395
Eternity Partnership 120,000 120,000
Highbrow Properties Ltd 1,219,436 1,219,436
New Holmes Estate Ltd 529,042 499,142
Mint New Homes Ltd 100,000 100,000
Portland Heights Ltd 1,687,987 1,687,987
Barking Heights 2,069,855 1,919,855
ZI Investment Ltd 1,888,000 1,888,000
12,277,144 11,712,915
12,326,038 11,812,915
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,339 1,819,592
Corporation tax 8,289 25,718
PAYE liability 1,559 3,099
VAT 14,292 39,002
Coscutter Express Ltd - 135,360
Payless Metro Ltd - 74,898
Seven 11 Ltd 540,916 -
Ark Food's Ltd 13,652 15,838
Paypoint (SMYK Ltd) - 79,642
Accruals 6,250 6,250
Director's loan account 6,954,096 4,950,864
7,546,393 7,150,263
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce Back Loan - 50,000
Lloyds Loan 01464918 663,183 285,985
Lloyds Loan 01459906 6,600,000 7,031,532
Lloyds Loan 01460300 261,086 377,098
7,524,269 7,744,615
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 723,536 723,536
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
The entity is owned & control by Director / Shareholder. 
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