Acorah Software Products - Accounts Production 16.4.675 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 03467895 Mrs Hazel McGrath Mr Adrian McGrath Ms Julie Kidson Mr Nicholas McGrath Mr Tom McGrath Mr Adrian McGrath iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03467895 2024-03-31 03467895 2025-03-31 03467895 2024-04-01 2025-03-31 03467895 frs-core:CurrentFinancialInstruments 2025-03-31 03467895 frs-core:FurnitureFittings 2024-04-01 2025-03-31 03467895 frs-core:LandBuildings 2025-03-31 03467895 frs-core:LandBuildings 2024-04-01 2025-03-31 03467895 frs-core:LandBuildings 2024-03-31 03467895 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 03467895 frs-core:PlantMachinery 2025-03-31 03467895 frs-core:PlantMachinery 2024-04-01 2025-03-31 03467895 frs-core:PlantMachinery 2024-03-31 03467895 frs-core:ShareCapital 2025-03-31 03467895 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 03467895 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03467895 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 03467895 frs-bus:SmallEntities 2024-04-01 2025-03-31 03467895 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 03467895 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03467895 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 03467895 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 03467895 frs-bus:Director1 2024-04-01 2025-03-31 03467895 frs-bus:Director2 2024-04-01 2025-03-31 03467895 frs-bus:Director3 2024-04-01 2025-03-31 03467895 frs-bus:Director4 2024-04-01 2025-03-31 03467895 frs-bus:Director5 2024-04-01 2025-03-31 03467895 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 03467895 frs-countries:EnglandWales 2024-04-01 2025-03-31 03467895 2023-03-31 03467895 2024-03-31 03467895 2023-04-01 2024-03-31 03467895 frs-core:CurrentFinancialInstruments 2024-03-31 03467895 frs-core:ShareCapital 2024-03-31 03467895 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03467895 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31
Registered number: 03467895
Paladin Projects Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Mounts Bay Accountants Ltd
FMAAT
16 Kenstella Road
Newlyn
Penzance
TR18 5AY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03467895
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,537,147 1,537,939
1,537,147 1,537,939
CURRENT ASSETS
Debtors 5 2,730 -
Cash at bank and in hand 180,415 134,251
183,145 134,251
Creditors: Amounts Falling Due Within One Year 6 (57,927 ) (32,550 )
NET CURRENT ASSETS (LIABILITIES) 125,218 101,701
TOTAL ASSETS LESS CURRENT LIABILITIES 1,662,365 1,639,640
PROVISIONS FOR LIABILITIES
Deferred Taxation (261,254 ) (261,254 )
NET ASSETS 1,401,111 1,378,386
CAPITAL AND RESERVES
Called up share capital 7 1,800 1,800
Fair value reserve 8 1,045,017 1,045,017
Profit and Loss Account 354,294 331,569
SHAREHOLDERS' FUNDS 1,401,111 1,378,386
Page 1
Page 2
For the year ending 31 March 2025 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 Tom McGrath
Director
6th August 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Paladin Projects Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03467895 . The registered office is 189 Hanworth Road, Hampton, TW12 3ED.
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 comprises of rent received.
In the opinion of the Directors the company's activities fall into two classes of business, residential letting and residential restoration & conversion for sale.
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:
Leasehold 0%
Fixtures & Fittings 10% reducing balance
The Leasehold investment property was previously accounted for under SSAP19, Accounting for Investment Properties, which required gains and losses on the property's open market value to be taken to a revalue reserve in equity.
The property is now being measured at fair value under FRS 102 and fair value gains and losses are reported in profit or loss as a non-distributable Fair Value Reserve.  FRS 102 also requires deferred tax to be accounted for on assets which are subject to revaluation.  Consequently, deferred tax of £261,254 was recognised at 31st March 2025 to reflect the provisions of FRS 102.
2.4. 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: NIL (2024: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost or Valuation
As at 1 April 2024 1,530,021 53,172 1,583,193
As at 31 March 2025 1,530,021 53,172 1,583,193
Depreciation
As at 1 April 2024 - 45,254 45,254
Provided during the period - 792 792
As at 31 March 2025 - 46,046 46,046
Net Book Value
As at 31 March 2025 1,530,021 7,126 1,537,147
As at 1 April 2024 1,530,021 7,918 1,537,939
5. Debtors
2025 2024
£ £
Due within one year
Other debtors 2,730 -
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2,508 3,750
Other creditors 22,748 28,800
Taxation and social security 32,671 -
57,927 32,550
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,800 1,800
8. Reserves
Fair Value Reserve
£
As at 1 April 2024 1,045,017
As at 31 March 2025 1,045,017
The properties to which the Fair Value reserve relates were valued on 27th July 2022 by J Kersh (RICS Member Number 0085863) in accordance with 2022 edition of the RICS Valuation - Professional Standards (incorporating the International Valuation Standards) - Global and UK Edition published by the Royal Institution of Chartered Surveyors.
9. Tenant's Deposits
Tenant's Security Deposits refundable on expiry of Tenancies.
Page 4