Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05166018 Mr J M Leeson Mr A J Lambourne Mr D H Leeson Mrs A G Leeson Friary Capital Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05166018 2023-12-31 05166018 2024-12-31 05166018 2024-01-01 2024-12-31 05166018 frs-core:BetweenOneFiveYears 2024-12-31 05166018 frs-core:ComputerEquipment 2024-01-01 2024-12-31 05166018 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05166018 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 05166018 frs-core:MotorVehicles 2024-01-01 2024-12-31 05166018 frs-core:WithinOneYear 2024-12-31 05166018 frs-core:ShareCapital 2024-12-31 05166018 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05166018 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05166018 frs-bus:AbridgedAccounts 2024-01-01 2024-12-31 05166018 frs-bus:SmallEntities 2024-01-01 2024-12-31 05166018 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05166018 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05166018 1 2024-01-01 2024-12-31 05166018 frs-bus:Director1 2024-01-01 2024-12-31 05166018 frs-bus:Director2 2024-01-01 2024-12-31 05166018 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 05166018 frs-bus:CompanySecretary2 2024-01-01 2024-12-31 05166018 frs-countries:EnglandWales 2024-01-01 2024-12-31 05166018 2022-12-31 05166018 2023-12-31 05166018 2023-01-01 2023-12-31 05166018 frs-core:BetweenOneFiveYears 2023-12-31 05166018 frs-core:WithinOneYear 2023-12-31 05166018 frs-core:ShareCapital 2023-12-31 05166018 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 05166018
Belgarum Estate Agents Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
MJK Accountants Ltd
Unit 9 Barnack Business Centre Blakey Road
Salisbury
Wiltshire
SP1 2LP
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Statement of Financial Position
Registered number: 05166018
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 77,765 109,641
77,765 109,641
CURRENT ASSETS
Debtors 232,335 284,169
Cash at bank and in hand 3,429,604 2,778,353
3,661,939 3,062,522
Creditors: Amounts Falling Due Within One Year (1,800,081 ) (1,485,170 )
NET CURRENT ASSETS (LIABILITIES) 1,861,858 1,577,352
TOTAL ASSETS LESS CURRENT LIABILITIES 1,939,623 1,686,993
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,656 ) (22,815 )
NET ASSETS 1,921,967 1,664,178
CAPITAL AND RESERVES
Called up share capital 5 10 10
Income Statement 1,921,957 1,664,168
SHAREHOLDERS' FUNDS 1,921,967 1,664,178
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Page 2
For the year ending 31 December 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.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr J M Leeson
Director
30/07/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Belgarum Estate Agents Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05166018 . The registered office is Staple Chambers, Staple Gardens, Winchester, SO23 8RS.
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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Leasehold land and property costs include improvement to leasehold property as well as costs obtaining the leases. 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 20% straight line / over life of lease
Motor Vehicles 25% reducing balance
Fixtures & Fittings 33% reducing balance
Computer Equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
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 year 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 asset reflects 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.
...CONTINUED
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2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.7. Other Investments
Listed investments are valued at their market value at the balance sheet date and any changes in their fair value between the previous year end or acquisition, as applicable, are recognised in profit and loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was 22 (2023: 21)
22 21
4. Tangible Assets
Total
£
Cost
As at 1 January 2024 388,921
Additions 10,449
As at 31 December 2024 399,370
Depreciation
As at 1 January 2024 279,280
Provided during the period 42,325
As at 31 December 2024 321,605
Net Book Value
As at 31 December 2024 77,765
As at 1 January 2024 109,641
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
6. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 94,735 49,622
Later than one year and not later than five years 346,201 180,385
440,936 230,007
7. Related Party Transactions
During the year rent of £38,750 (2023: £30,000) was paid to Mr J Leeson, director and shareholder of the company, for use of a business premises.
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8. Ultimate Controlling Party
The company's ultimate controlling party is Friary Capital Ltd by virtue of their ownership of 100% of the issued share capital in the company.
The previous shareholders of Belgarum Estate Agents Ltd completed a share for share exchange during the year. 
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