Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07463867 David Vertannes Nicholas Crake-Goulden iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07463867 2023-12-31 07463867 2024-12-31 07463867 2024-01-01 2024-12-31 07463867 frs-core:CurrentFinancialInstruments 2024-12-31 07463867 frs-core:ComputerEquipment 2024-12-31 07463867 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07463867 frs-core:ComputerEquipment 2023-12-31 07463867 frs-core:FurnitureFittings 2024-12-31 07463867 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07463867 frs-core:FurnitureFittings 2023-12-31 07463867 frs-core:WithinOneYear 2024-12-31 07463867 frs-core:ShareCapital 2024-12-31 07463867 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07463867 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07463867 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07463867 frs-bus:SmallEntities 2024-01-01 2024-12-31 07463867 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07463867 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07463867 frs-bus:Director1 2024-01-01 2024-12-31 07463867 frs-bus:Director2 2024-01-01 2024-12-31 07463867 frs-countries:EnglandWales 2024-01-01 2024-12-31 07463867 2022-12-31 07463867 2023-12-31 07463867 2023-01-01 2023-12-31 07463867 frs-core:CurrentFinancialInstruments 2023-12-31 07463867 frs-core:WithinOneYear 2023-12-31 07463867 frs-core:ShareCapital 2023-12-31 07463867 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07463867
Team 2 Property Management Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Team 2 Property Management Limited
Contents
Contents

| Page
--- | ---
Statement of Financial Position | 1—2
Notes to the Financial Statements | 3—5

Page 1
Team 2 Property Management Limited
Statement of Financial Position
As At 31 December 2024
Statement of Financial Position
Registered number: 07463867

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 5,816 |  | 8,059
|  |  | 5,816 |  | 8,059
CURRENT ASSETS
Debtors | 5 | 36,144 |  | 51,114 |
Cash at bank and in hand |  | 446,190 |  | 675,173 |
|  | 482,334 |  | 726,287 |
Creditors: Amounts Falling Due Within One Year | 6 | (455,046 ) |  | (582,569 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 27,288 |  | 143,718
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 33,104 |  | 151,777
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (1,453 ) |  | (1,280 )
NET ASSETS |  |  | 31,651 |  | 150,497
CAPITAL AND RESERVES
Called up share capital | 7 |  | 100 |  | 100
Income Statement |  |  | 31,551 |  | 150,397
SHAREHOLDERS' FUNDS |  |  | 31,651 |  | 150,497

Page 1
Page 2
Team 2 Property Management Limited
Statement of Financial Position (continued)
As At 31 December 2024
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.
On behalf of the board

David Vertannes Director
17/09/2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Team 2 Property Management Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Team 2 Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07463867 . The registered office is 28 London Road, Southampton, SO15 2AG.
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. Commissions received relating to the sale of properties are recognised once contracts are exchanged on the sale of the property in question. Lettings management income is recognised in a straight line over ther term of the tenancy.
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:

Fixtures & Fittings | 15% reducing balance
Computer Equipment | 25% straight line

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.
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
Page 3
Page 4
Team 2 Property Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4. Tangible Assets

| Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | 17,270 | 19,319 | 36,589
Additions | - | 117 | 117
As at 31 December 2024 | 17,270 | 19,436 | 36,706
Depreciation
As at 1 January 2024 | 11,857 | 16,673 | 28,530
Provided during the period | 812 | 1,548 | 2,360
As at 31 December 2024 | 12,669 | 18,221 | 30,890
Net Book Value
As at 31 December 2024 | 4,601 | 1,215 | 5,816
As at 1 January 2024 | 5,413 | 2,646 | 8,059

5. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 17,520 |  | -
Amounts owed by group undertakings | 15,836 |  | -
Other debtors | 2,788 |  | 51,114
| 36,144 |  | 51,114

6. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 3,425 |  | 3,124
Other creditors | 417,294 |  | 534,153
Taxation and social security | 34,327 |  | 45,292
| 455,046 |  | 582,569

7. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Not later than one year | 5,600 |  | -
| 5,600 |  | -

Page 4
Page 5
Team 2 Property Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 January 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2024
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Lee Matthews | 44,241 | - | 44,241 | - | -

The above loan is unsecured and repayable on demand. Interest is charged at HMRC's official rate.
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