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 05413038 Sir John Lewis Mrs Susan Lewis true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05413038 2023-10-31 05413038 2024-10-31 05413038 2023-11-01 2024-10-31 05413038 frs-core:Non-currentFinancialInstruments 2024-10-31 05413038 frs-core:ShareCapital 2024-10-31 05413038 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 05413038 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05413038 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 05413038 frs-bus:SmallEntities 2023-11-01 2024-10-31 05413038 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 05413038 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 05413038 1 2023-11-01 2024-10-31 05413038 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 05413038 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-10-31 05413038 frs-bus:Director1 2023-11-01 2024-10-31 05413038 frs-bus:Director2 2023-11-01 2024-10-31 05413038 frs-countries:EnglandWales 2023-11-01 2024-10-31 05413038 2022-10-31 05413038 2023-10-31 05413038 2022-11-01 2023-10-31 05413038 frs-core:Non-currentFinancialInstruments 2023-10-31 05413038 frs-core:ShareCapital 2023-10-31 05413038 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 05413038 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31
Registered number: 05413038
Concarn Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05413038
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 650,000 650,000
650,000 650,000
CURRENT ASSETS
Debtors 5 1,972 1,767
Cash at bank and in hand 32,086 7,347
34,058 9,114
Creditors: Amounts Falling Due Within One Year 6 (188,372 ) (88,500 )
NET CURRENT ASSETS (LIABILITIES) (154,314 ) (79,386 )
TOTAL ASSETS LESS CURRENT LIABILITIES 495,686 570,614
Creditors: Amounts Falling Due After More Than One Year 7 (147,291 ) (135,494 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,080 ) (25,080 )
NET ASSETS 323,315 410,040
CAPITAL AND RESERVES
Called up share capital 8 400,000 400,000
Fair value reserve 9 192,885 192,885
Profit and Loss Account (269,570 ) (182,845 )
SHAREHOLDERS' FUNDS 323,315 410,040
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 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.
The financial statements were approved by the board of directors on 17 July 2025 and were signed on its behalf by:
Sir John Lewis
Director
17/07/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Concarn Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05413038 . The registered office is Unit 7 Vulcan House, Restmor Way, Wallington, SM6 7AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for property rental provided in the normal course of business, and is shown net of VAT and other sales related taxes.
2.4. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractualarrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
...CONTINUED
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2.5. Financial Instruments - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.6. Foreign Currencies
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2.7. 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.
2.8. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 650,000
Investment property comprises freehold property. The fair value of the investment property has been arrived at by the director at the year end. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
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5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,972 1,767
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 188,372 88,500
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 147,291 135,494
The loan is secured by a fixed and floating charge over the assets of the company.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 400,000 400,000
9. Reserves
Fair Value Reserve
£
As at 1 November 2023 192,885
As at 31 October 2024 192,885
10. Ultimate Controlling Party
The ultimate controlling party is Lady Susan Frances Lewis, by virtue of her directorship and shareholding.
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