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 09556734 Mr Darren Ridge Mr Aaron Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09556734 2023-12-31 09556734 2024-12-31 09556734 2024-01-01 2024-12-31 09556734 frs-core:CurrentFinancialInstruments 2024-12-31 09556734 frs-core:Non-currentFinancialInstruments 2024-12-31 09556734 frs-core:BetweenOneFiveYears 2024-12-31 09556734 frs-core:ComputerEquipment 2024-12-31 09556734 frs-core:ComputerEquipment 2024-01-01 2024-12-31 09556734 frs-core:ComputerEquipment 2023-12-31 09556734 frs-core:FurnitureFittings 2024-12-31 09556734 frs-core:FurnitureFittings 2024-01-01 2024-12-31 09556734 frs-core:FurnitureFittings 2023-12-31 09556734 frs-core:MotorVehicles 2024-12-31 09556734 frs-core:MotorVehicles 2024-01-01 2024-12-31 09556734 frs-core:MotorVehicles 2023-12-31 09556734 frs-core:PlantMachinery 2024-12-31 09556734 frs-core:PlantMachinery 2024-01-01 2024-12-31 09556734 frs-core:PlantMachinery 2023-12-31 09556734 frs-core:WithinOneYear 2024-12-31 09556734 frs-core:RevaluationReserve 2023-12-31 09556734 frs-core:RevaluationReserve 2024-12-31 09556734 frs-core:ShareCapital 2024-12-31 09556734 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 09556734 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09556734 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 09556734 frs-bus:SmallEntities 2024-01-01 2024-12-31 09556734 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09556734 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09556734 frs-bus:Director1 2024-01-01 2024-12-31 09556734 frs-bus:Director2 2024-01-01 2024-12-31 09556734 frs-countries:EnglandWales 2024-01-01 2024-12-31 09556734 2022-12-31 09556734 2023-12-31 09556734 2023-01-01 2023-12-31 09556734 frs-core:CurrentFinancialInstruments 2023-12-31 09556734 frs-core:Non-currentFinancialInstruments 2023-12-31 09556734 frs-core:BetweenOneFiveYears 2023-12-31 09556734 frs-core:MotorVehicles 2023-01-01 2023-12-31 09556734 frs-core:WithinOneYear 2023-12-31 09556734 frs-core:RevaluationReserve 2023-12-31 09556734 frs-core:ShareCapital 2023-12-31 09556734 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 09556734
Ridown Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09556734
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,957 68,957
Investment Properties 5 3,097,848 3,097,848
3,170,805 3,166,805
CURRENT ASSETS
Debtors 6 582,373 583,914
Investments 7 16,579 16,579
Cash at bank and in hand 152,801 94,363
751,753 694,856
Creditors: Amounts Falling Due Within One Year 8 (200,702 ) (89,335 )
NET CURRENT ASSETS (LIABILITIES) 551,051 605,521
TOTAL ASSETS LESS CURRENT LIABILITIES 3,721,856 3,772,326
Creditors: Amounts Falling Due After More Than One Year 9 (1,025,176 ) (1,085,905 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (248,125 ) (248,125 )
NET ASSETS 2,448,555 2,438,296
CAPITAL AND RESERVES
Called up share capital 12 100 100
Revaluation reserve 13 792,050 792,050
Profit and Loss Account 1,656,405 1,646,146
SHAREHOLDERS' FUNDS 2,448,555 2,438,296
Page 1
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 Profit and Loss Account.
On behalf of the board
Mr Aaron Brown
Director
26 September 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ridown Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09556734 . The registered office is Ridown Building, Fulcrum 2, Solent Way, Fareham, Hampshire, PO15 7FN.
The presentation currency of the financial statements is the Pound Sterling (£).
Accounts are rounded to the nearest pound.
The accounts represent the company as an individual entity.
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 represents net invoiced sales of services excluding value added tax.
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:
Plant & Machinery 10% on reducing balance
Motor Vehicles Depreciated on cost over 3 years
Fixtures & Fittings 33% on reducing balance
Computer Equipment 33% on cost
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 profit and loss account.
2.5. 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 profit and loss account 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 profit and loss account as incurred.
2.6. Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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Page 4
2.7. 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 (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 20,653 62,871 81,289 6,991 171,804
Additions - - 27,500 - 27,500
As at 31 December 2024 20,653 62,871 108,789 6,991 199,304
Depreciation
As at 1 January 2024 12,040 5,331 78,485 6,991 102,847
Provided during the period 861 20,957 1,682 - 23,500
As at 31 December 2024 12,901 26,288 80,167 6,991 126,347
Net Book Value
As at 31 December 2024 7,752 36,583 28,622 - 72,957
As at 1 January 2024 8,613 57,540 2,804 - 68,957
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 36,583 57,540
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 3,097,848
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 114,091 125,475
Amounts owed by group undertakings 367,358 380,208
Other debtors 100,924 78,231
582,373 583,914
7. Current Asset Investments
2024 2023
£ £
Short term deposits 16,579 16,579
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,730 13,730
Trade creditors 120,195 1,328
Bank loans and overdrafts 47,000 47,000
Other creditors 19,287 18,120
Taxation and social security 490 9,157
200,702 89,335
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 41,176 54,905
Bank loans 984,000 1,031,000
1,025,176 1,085,905
10. Secured Creditors
Of the creditors the following amounts are secured.
The bank loan is secured by way of fixed and floating charges, over the leasehold property known as Unit 2, Fulcrum 4, Solent Way, Whiteley, in favour of Svenska Handelsbanken Ab (Publ).
2024 2023
£ £
Bank loans and overdrafts 984,000 1,078,000
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Page 6
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,730 13,730
Later than one year and not later than five years 41,176 54,905
54,906 68,635
54,906 68,635
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
13. Reserves
Revaluation Reserve
£
As at 1 January 2024 792,050
As at 31 December 2024 792,050
RESERVES
                                                  Revaluation reserve
At 1 January 2024                        792,050
Transfer between reserves         
At 31 December 2024                  792,050
Page 6