Acorah Software Products - Accounts Production 16.4.675 false true true 31 December 2022 1 December 2022 false 18 July 2025 1 January 2023 31 December 2023 31 December 2023 07463729 Mr Peter Prickett true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07463729 2022-12-31 07463729 2023-12-31 07463729 2023-01-01 2023-12-31 07463729 frs-core:CurrentFinancialInstruments 2023-12-31 07463729 frs-core:RevaluationReserve 2022-12-31 07463729 frs-core:RevaluationReserve 2023-12-31 07463729 frs-core:ShareCapital 2023-12-31 07463729 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07463729 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07463729 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07463729 frs-bus:SmallEntities 2023-01-01 2023-12-31 07463729 frs-bus:Audited 2023-01-01 2023-12-31 07463729 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07463729 1 2023-01-01 2023-12-31 07463729 frs-bus:Director1 2023-01-01 2023-12-31 07463729 frs-countries:EnglandWales 2023-01-01 2023-12-31 07463729 2022-11-30 07463729 2022-12-31 07463729 2022-12-01 2022-12-31 07463729 frs-core:CurrentFinancialInstruments 2022-12-31 07463729 frs-core:RevaluationReserve 2022-12-31 07463729 frs-core:ShareCapital 2022-12-31 07463729 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07463729
Redchurch Properties Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 07463729
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 141,875 141,875
141,875 141,875
CURRENT ASSETS
Debtors 5 683,759 982,679
Cash at bank and in hand 1,881 1,713
685,640 984,392
Creditors: Amounts Falling Due Within One Year 6 (2,797,994 ) (2,449,534 )
NET CURRENT ASSETS (LIABILITIES) (2,112,354 ) (1,465,142 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,970,479 ) (1,323,267 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,779 ) (11,779 )
NET LIABILITIES (1,982,258 ) (1,335,046 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Revaluation reserve 8 54,067 54,067
Income Statement (2,036,326 ) (1,389,114 )
SHAREHOLDERS' FUNDS (1,982,258) (1,335,046)
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 Peter Prickett
Director
21/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Redchurch Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07463729 . The registered office is 167/169 Great Portland Street, 5th Floor, London, Greater London, W1W 5PF.
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. Going Concern Disclosure
Administration of Holding Company: On 28th January, 2025 the holding company, Redbookinternational Limited, entered into administration due to financial pressure and to streamline the group companies. The appointed administrators are Paul Davies and Sandra Mundy of James Cowper Kreston. The administration process is ongoing, and the administrators are working to realize the assets of the Group and settle its liabilities.
Sale of Subsidiaries: Subsequent to the year-end date, on 29th April, 2025, the administrators completed the sale of the company's subsidiaries, Bricks Leicester Capital Limited, Bricks Salford 2 Capital Limited, Bricks Swansea Capital Limited and LCA Capital Limited, including subsidiaries of these companies to Uniquarters Limited. The sale was part of the strategy to maximize returns to creditors. The financial impact of this transaction will be reflected in the next financial period.
The Management has assessed the implications of these events on Company’s ability to continue as a going concern and concluded that the going concern basis of preparation remains appropriate as at the date of approval of these financial statements.
Notwithstanding this assessment, the Director recognises that there are issues which indicates that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.
The company generated losses of £624,911 in the year ended 31 December 2023 and has net liabilities of £1,959,958 at 31 December 2023. As a result company is reliant on the on the financial support of its subsidiaries and ultimate parent company not recalling the loan due to it. The subsidiaries have material uncertainties with respect to going concern due to administration of immediate parent undertaking, which has resulted in all the intercompany liabilities to ultimate parent undertaking recoverable on demand. There is therefore a risk that such debts cannot be repaid on demand. Moreover, Subsidiaries are cross-guarantor of loans totalling £142.404m at 31 December 2023, which are either overdue or repayable within 12 months of approval of the financial statements and therefore its repayments calls into question the ability of the company to continue as a going concern. As a result, whilst the Director believes that ultimate parent undertaking will be able to support the Company should it be required to do, the Director acknowledges that there is a material uncertainty around this.
2.3. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: NIL)
1 -
Page 2
Page 3
4. Investment Property
31 December 2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 141,875
Investment property is 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. Changes in fair value are recognised in profit or
loss and then transferred (net of deferred tax) to revaluation reserve.
31 December 2023 31 December 2022
£ £
Cost 141,875 141,875
The cost of the freehold land was £141,875 (2022: £141,875).
5. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 652,275 18,592
Amounts owed by group undertakings - 943,390
Other debtors 31,484 20,697
683,759 982,679
6. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 123,029 3,900
Amounts owed to group undertakings 258,450 225,190
Amounts owed to participating interests - 2,198,144
Other creditors 2,217,265 22,300
Taxation and social security 199,250 -
2,797,994 2,449,534
7. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 1 1
Page 3
Page 4
8. Reserves
Revaluation Reserve
£
As at 1 January 2023 54,067
As at 31 December 2023 54,067
9. Post Balance Sheet Events
The immediate parent undertaking, Redbookinternational Limited (formerly named Bricks Capital Holdings Limited) is in administration started on 21st January 2025. On 29th April, 2025, the administrators completed the sale of the company's subsidiaries: Bricks Leicester Capital Limited, Bricks Salford 2 Capital Limited, Bricks Swansea Capital Limited and LCA Capital Limited, including subsidiaries of these companies to Uniquarters Limited.
10. Related Party Transactions
As permitted by FRS 102, the company has taken advantage of the exemption from disclosing the transactions entered into between wholly owned group companies and those group company transactions that have been performed on an arm's length basis. 
11. Ultimate Controlling Party
The immediate parent undertaking is Redbookinternational Limited (formerly Bricks Capital Holdings Limited), a company registered in the United Kingdom. The largest and smallest group in which the results of the Company are consolidated is that of Bricks Group Holdings Limited. The consolidated financial statements may be obtained from 167/169 Great Portland Street, 5th Floor, London, Greater London, England, W1W 5PF. 
12. Audit Information
The auditor's report on the accounts of Redchurch Properties Limited for the year ended 31 December 2023 was unqualified.
The auditor's report was signed by Sheetal Shah (FCCA) (Senior Statutory Auditor) for and on behalf of Innovi Advisors Limited , Statutory Auditor.
Innovi Advisors Limited
Chartered Certified Accountant & Statutory Auditor
163 Herne Hill
London
SE24 9LR
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