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 14176527 Mr Colin Serlin Ms India Serlin Mr Bhavin Thakrar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14176527 2023-06-30 14176527 2024-06-30 14176527 2023-07-01 2024-06-30 14176527 frs-core:CurrentFinancialInstruments 2024-06-30 14176527 frs-core:Non-currentFinancialInstruments 2024-06-30 14176527 frs-core:FurnitureFittings 2024-06-30 14176527 frs-core:FurnitureFittings 2023-07-01 2024-06-30 14176527 frs-core:FurnitureFittings 2023-06-30 14176527 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 14176527 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 14176527 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 14176527 frs-core:MotorVehicles 2024-06-30 14176527 frs-core:MotorVehicles 2023-07-01 2024-06-30 14176527 frs-core:MotorVehicles 2023-06-30 14176527 frs-core:PlantMachinery 2024-06-30 14176527 frs-core:PlantMachinery 2023-07-01 2024-06-30 14176527 frs-core:PlantMachinery 2023-06-30 14176527 frs-core:ShareCapital 2024-06-30 14176527 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 14176527 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14176527 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 14176527 frs-bus:SmallEntities 2023-07-01 2024-06-30 14176527 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 14176527 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14176527 frs-bus:Director1 2023-07-01 2024-06-30 14176527 frs-bus:Director2 2023-07-01 2024-06-30 14176527 frs-bus:Director2 2023-06-30 14176527 frs-bus:Director2 2024-06-30 14176527 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 14176527 frs-countries:EnglandWales 2023-07-01 2024-06-30 14176527 2022-06-30 14176527 2023-06-30 14176527 2022-07-01 2023-06-30 14176527 frs-core:CurrentFinancialInstruments 2023-06-30 14176527 frs-core:Non-currentFinancialInstruments 2023-06-30 14176527 frs-core:ShareCapital 2023-06-30 14176527 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 14176527
Cottage Orne Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14176527
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,249,559 7,054,932
7,249,559 7,054,932
CURRENT ASSETS
Debtors 5 130,240 84,501
Cash at bank and in hand 57,121 119,558
187,361 204,059
Creditors: Amounts Falling Due Within One Year 6 (193,340 ) (139,685 )
NET CURRENT ASSETS (LIABILITIES) (5,979 ) 64,374
TOTAL ASSETS LESS CURRENT LIABILITIES 7,243,580 7,119,306
Creditors: Amounts Falling Due After More Than One Year 7 (9,241,954 ) (7,824,057 )
NET LIABILITIES (1,998,374 ) (704,751 )
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account (1,998,574 ) (704,951 )
SHAREHOLDERS' FUNDS (1,998,374) (704,751)
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 Colin Serlin
Director
28/07/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Cottage Orne Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14176527 . The registered office is 16 Portland Close, Ayelsbury, HP22 7DG.
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 primarily derived from operation of cottages and comprises income from accommodation and other related services. Turnover represents amounts received or receivable for sale of goods and/or services provided and is recognised when good are sold or services have been rendered. Turnover is show net of Value Added Tax.
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% straight line basis
Plant & Machinery 20% written down value
Motor Vehicles 20% written down value
Fixtures & Fittings 20% written down value
Freehold land is not depreciated. Freehold property valuation is updated when necessary, to assess the fair value of tangible fixed assets at the reporting date.
2.4. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition offinancial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.5. 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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2.6. Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 4)
3 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 July 2023 6,941,837 5,500 33,030 160,807 7,141,174
Additions 198,233 1,467 - 146,746 346,446
Disposals - - - (40,000 ) (40,000 )
As at 30 June 2024 7,140,070 6,967 33,030 267,553 7,447,620
Depreciation
As at 1 July 2023 53,536 1,100 6,606 25,000 86,242
Provided during the period 55,925 1,700 5,284 56,910 119,819
Disposals - - - (8,000 ) (8,000 )
As at 30 June 2024 109,461 2,800 11,890 73,910 198,061
Net Book Value
As at 30 June 2024 7,030,609 4,167 21,140 193,643 7,249,559
As at 1 July 2023 6,888,301 4,400 26,424 135,807 7,054,932
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 40,707 3,492
Prepayments and accrued income 22,863 20,815
Other debtors 1,100 1,100
VAT 63,931 57,455
Directors' loan accounts 1,639 1,639
130,240 84,501
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 166,952 112,391
Other taxes and social security 13,510 4,869
Other creditors 3,259 -
Accruals and deferred income 9,619 22,425
193,340 139,685
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 9,241,954 7,824,057
8. Secured Creditors
Other loans are secured against a fixed and floating charge of the company's assets
2024 2023
£ £
Other Creditors 9,241,954 7,824,057
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Ms India Serlin 1,639 - - - 1,639
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
Creditors include £9,341,954 (2023: £7,899,057) owed to companies in which Mr Colin Serlin has an interest.
The financial statements include a management fee of £25,000 (2023: £75,000) charged by London Buildings (Highgate) Limited, a company in which Mr Colin Serlin has an interest.
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