Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 NI639670 Mr Sean Flanagan Mrs Karin Flanagan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI639670 2023-10-31 NI639670 2024-10-31 NI639670 2023-11-01 2024-10-31 NI639670 frs-core:CurrentFinancialInstruments 2024-10-31 NI639670 frs-core:Non-currentFinancialInstruments 2024-10-31 NI639670 frs-core:FurnitureFittings 2024-10-31 NI639670 frs-core:FurnitureFittings 2023-11-01 2024-10-31 NI639670 frs-core:FurnitureFittings 2023-10-31 NI639670 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-10-31 NI639670 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 NI639670 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-31 NI639670 frs-core:RevaluationReserve 2023-10-31 NI639670 frs-core:RevaluationReserve 2024-10-31 NI639670 frs-core:ShareCapital 2024-10-31 NI639670 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI639670 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI639670 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 NI639670 frs-bus:SmallEntities 2023-11-01 2024-10-31 NI639670 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 NI639670 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI639670 frs-bus:Director1 2023-11-01 2024-10-31 NI639670 frs-bus:Director2 2023-11-01 2024-10-31 NI639670 frs-countries:NorthernIreland 2023-11-01 2024-10-31 NI639670 2022-10-31 NI639670 2023-10-31 NI639670 2022-11-01 2023-10-31 NI639670 frs-core:CurrentFinancialInstruments 2023-10-31 NI639670 frs-core:Non-currentFinancialInstruments 2023-10-31 NI639670 frs-core:RevaluationReserve 2023-10-31 NI639670 frs-core:ShareCapital 2023-10-31 NI639670 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: NI639670
Flanagan Properties Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Satori Accounting
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: NI639670
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 306,317 305,140
306,317 305,140
CURRENT ASSETS
Cash at bank and in hand 233 193
233 193
Creditors: Amounts Falling Due Within One Year 5 (11,489 ) (10,452 )
NET CURRENT ASSETS (LIABILITIES) (11,256 ) (10,259 )
TOTAL ASSETS LESS CURRENT LIABILITIES 295,061 294,881
Creditors: Amounts Falling Due After More Than One Year 6 (301,633 ) (295,241 )
NET LIABILITIES (6,572 ) (360 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Revaluation reserve 8 48,082 48,082
Income Statement (54,656 ) (48,444 )
SHAREHOLDERS' FUNDS (6,572) (360)
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 Income Statement.
On behalf of the board
Mr Sean Flanagan
Director
23 July 2025
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Flanagan Properties Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI639670 . The registered office is 11 Limavady Road, Waterside, Derry, BT47 6JU.
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
Income consits of rent generated from the company's investment property and are included in the Income Statement as "Other Operating Income".
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 0%
Fixtures & Fittings 10% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually by the director 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 income statement.
2.5. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the Income Statement. Derivative financial instruments are iniitially recorded at cost and thereafter at fair value with changes recognised in the Income Statement.
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2023 305,140 - 305,140
Additions - 1,300 1,300
As at 31 October 2024 305,140 1,300 306,440
Depreciation
As at 1 November 2023 - - -
Provided during the period - 123 123
As at 31 October 2024 - 123 123
Net Book Value
As at 31 October 2024 305,140 1,177 306,317
As at 1 November 2023 305,140 - 305,140
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 9,000 9,000
Other loans 108 -
Other creditors 2,381 1,452
11,489 10,452
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 93,971 98,432
Other creditors 207,662 196,809
301,633 295,241
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Reserves
Revaluation Reserve
£
As at 1 November 2023 48,082
As at 31 October 2024 48,082
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9. Related Party Transactions
During the year, directors introdcued personal funds to the company in the sum of £10,853.

At the year-end date, the amount owed to directors was £207,662. This is disclosed within creditors falling due after more than one year.
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