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 10419060 N O Ihesiene U Ihesiene iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10419060 2023-10-31 10419060 2024-10-31 10419060 2023-11-01 2024-10-31 10419060 frs-core:CurrentFinancialInstruments 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 2024-10-31 10419060 frs-core:ComputerEquipment 2024-10-31 10419060 frs-core:ComputerEquipment 2023-11-01 2024-10-31 10419060 frs-core:ComputerEquipment 2023-10-31 10419060 frs-core:FurnitureFittings 2024-10-31 10419060 frs-core:FurnitureFittings 2023-11-01 2024-10-31 10419060 frs-core:FurnitureFittings 2023-10-31 10419060 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 10419060 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 10419060 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 10419060 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 10419060 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 10419060 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 10419060 frs-core:RevaluationReserve 2023-10-31 10419060 frs-core:RevaluationReserve 2024-10-31 10419060 frs-core:SharePremium 2024-10-31 10419060 frs-core:ShareCapital 2024-10-31 10419060 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 10419060 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 10419060 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 10419060 frs-bus:SmallEntities 2023-11-01 2024-10-31 10419060 frs-bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 10419060 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 10419060 frs-bus:Director1 2023-11-01 2024-10-31 10419060 frs-bus:Director2 2023-11-01 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 1 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 2 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 3 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 4 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 5 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 6 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 7 2024-10-31 10419060 frs-core:Non-currentFinancialInstruments 8 2024-10-31 10419060 frs-countries:EnglandWales 2023-11-01 2024-10-31 10419060 2022-10-31 10419060 2023-10-31 10419060 2022-11-01 2023-10-31 10419060 frs-core:CurrentFinancialInstruments 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 2023-10-31 10419060 frs-core:RevaluationReserve 2023-10-31 10419060 frs-core:SharePremium 2023-10-31 10419060 frs-core:ShareCapital 2023-10-31 10419060 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 1 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 2 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 3 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 4 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 5 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 6 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 7 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 8 2023-10-31 10419060 frs-core:Non-currentFinancialInstruments 9 2023-10-31
Registered number: 10419060
Gigatt Estates And Investments Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
O A George & Co
Chartered Certified Accountants & Registered Auditors
104 New Cross Road
New Cross
London
SE14 5BA
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors N O Ihesiene
U Ihesiene
Company Number 10419060
Registered Office 20 - 22 Wenlock Road
London
N1 7GU
Accountants O A George & Co
Chartered Certified Accountants & Registered Auditors
104 New Cross Road
New Cross
London
SE14 5BA
Page 1
Page 2
Accountant's Report
In accordance with the engagement letter dated 15 July 2025, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 October 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
24 July 2025
O A George & Co
Chartered Certified Accountants & Registered Auditors
104 New Cross Road
New Cross
London
SE14 5BA
Page 2
Page 3
Balance Sheet
Registered number: 10419060
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,780,902 1,820,499
1,780,902 1,820,499
CURRENT ASSETS
Stocks 5 13,455 24,900
Debtors 6 4,162 -
Cash at bank and in hand 14,557 65,637
32,174 90,537
Creditors: Amounts Falling Due Within One Year 7 (7,836 ) (7,471 )
NET CURRENT ASSETS (LIABILITIES) 24,338 83,066
TOTAL ASSETS LESS CURRENT LIABILITIES 1,805,240 1,903,565
Creditors: Amounts Falling Due After More Than One Year 8 (1,860,784 ) (1,890,971 )
NET (LIABILITIES)/ASSETS (55,544 ) 12,594
CAPITAL AND RESERVES
Called up share capital 10 264 264
Share premium account 261,000 261,000
Revaluation reserve 11 38,188 38,188
Profit and Loss Account (354,996 ) (286,858 )
SHAREHOLDERS' FUNDS (55,544) 12,594
Page 3
Page 4
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 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
N O Ihesiene
Director
U Ihesiene
Director
24 July 2025
The notes on pages 5 to 7 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Gigatt Estates And Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10419060 . The registered office is 20 - 22 Wenlock Road, London, N1 7GU.
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 2% on cost
Leasehold 2% on cost
Fixtures & Fittings 10% on cost
Computer Equipment 25% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 1,685,000 290,000 160 2,363 1,977,523
As at 31 October 2024 1,685,000 290,000 160 2,363 1,977,523
...CONTINUED
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Page 6
Depreciation
As at 1 November 2023 131,560 23,200 64 2,200 157,024
Provided during the period 33,700 5,800 16 81 39,597
As at 31 October 2024 165,260 29,000 80 2,281 196,621
Net Book Value
As at 31 October 2024 1,519,740 261,000 80 82 1,780,902
As at 1 November 2023 1,553,440 266,800 96 163 1,820,499
5. Stocks
2024 2023
£ £
Work in progress 13,455 24,900
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,162 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 433 297
Other creditors 3,443 2,290
Accruals and deferred income 3,960 3,960
Directors' loan accounts - 924
7,836 7,471
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors- 91 Caterhatch 134,992 134,992
Bath Building Society 125,501 125,501
Precise Mortgages 134,640 134,640
Landbay Partners ltd - Finance 137,813 -
The Mortgage Lender- 7 Andrula 206,084 206,084
Foundation Homeloans- 79 Brick Lane 261,338 261,338
Foundation Homeloans - 91 Caterhatch 284,063 284,063
Foundation Homeloans - 40 Manly Dixon 253,763 253,763
Directors' Loans (long term) 215,000 257,000
MT Finance - 10 Sidcot Place - 126,000
Vida Homeloans -19 Furmston Place 107,590 107,590
1,860,784 1,890,971
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Page 7
9. Secured Creditors
Of the creditors the following amounts are secured.
Company properties are all held as securities against their relating loans or mortgages, and relevant charges registered againt them by the lending companies.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 264 264
11. Reserves
Revaluation Reserve
£
As at 1 November 2023 38,188
As at 31 October 2024 38,188
                                                  Retained         Share         Re-evaluation              
                                                    earnings       premium         reserve                        Totals
                                                        £                  £                    £                                 £
 At 1 November 2023                     (286,858)       261,000         38,188                          12,330
Re-evaluation of property                                                                 -                                  -
Profit/(Loss) for the year                  (68,138)                -                  -                         (68,138)
                                                  ------------      -----------      -----------                     ------------
At 31 October 2024                        (354,996)       261,000         38,188                        (55,808)
                                                 =======      ======      ======                      =======
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