Acorah Software Products - Accounts Production 16.4.675 true true 31 December 2023 7 December 2022 false 1 January 2024 31 December 2024 31 December 2024 14527929 Baldwin Trustees Limited Mr M Keenan Mr S Fletcher Mr S Saunders Mr J Okas iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14527929 2023-12-31 14527929 2024-12-31 14527929 2024-01-01 2024-12-31 14527929 frs-core:OtherReservesSubtotal 2024-12-31 14527929 frs-bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 14527929 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 14527929 frs-bus:SmallEntities 2024-01-01 2024-12-31 14527929 frs-bus:EntityHasNeverTraded 2024-01-01 2024-12-31 14527929 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14527929 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14527929 frs-bus:Director1 2024-01-01 2024-12-31 14527929 frs-bus:Director2 2024-01-01 2024-12-31 14527929 frs-bus:Director3 2024-01-01 2024-12-31 14527929 frs-bus:Director4 2024-01-01 2024-12-31 14527929 frs-bus:Director5 2024-01-01 2024-12-31 14527929 frs-countries:EnglandWales 2024-01-01 2024-12-31 14527929 2022-12-06 14527929 2023-12-31 14527929 2022-12-07 2023-12-31 14527929 frs-core:OtherReservesSubtotal 2023-12-31
Registered number: 14527929
South Downs Trust Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14527929
31 December 2024 31 December 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 100 100
100 100
NET CURRENT ASSETS (LIABILITIES) 100 100
TOTAL ASSETS LESS CURRENT LIABILITIES 100 100
NET ASSETS 100 100
RESERVES
Other reserves 100 100
MEMBERS' FUNDS 100 100
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 and Expenditure Account.
The financial statements were approved by the board of directors on 30 July 2025 and were signed on its behalf by:
Mr S Fletcher
Director
30/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
South Downs Trust Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 14527929 . The registered office is Unit 3 Newhouse Business Centre Old Crawley Road, Faygate, Horsham, West Sussex, RH12 4RU. The company's purpose is to act as a trustee for the Real Wireless Employee Ownership Trust. The company has never traded.
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. 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 contractual arrangements 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.
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.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus 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 surplus. 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 surplus 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 surplus will be available to allow all or part of the asset to be recovered.
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Page 3
2.3. Taxation - continued
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 surplus or deficit 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: NIL (2023: NIL)
- -
4. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Other debtors 100 100
5. Related Party Transactions
On 31 December 2022 the entire share capital of Real Wireless Ltd. was acquired by the Real Wireless Employee Ownership Trust ("the Trust"). The Trust holds shares for the future benefit of the employees of Real Wireless Ltd.
6. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 3