Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 10505382 Mr Richard Freeman Mrs Cheryl Freeman Phillips Mrs Cheryl Freeman Phillips iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10505382 2023-12-31 10505382 2024-12-31 10505382 2024-01-01 2024-12-31 10505382 frs-core:CurrentFinancialInstruments 2024-12-31 10505382 frs-core:Non-currentFinancialInstruments 2024-12-31 10505382 frs-core:ComputerEquipment 2024-01-01 2024-12-31 10505382 frs-core:PlantMachinery 2024-01-01 2024-12-31 10505382 frs-core:ShareCapital 2024-12-31 10505382 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10505382 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10505382 frs-bus:AbridgedAccounts 2024-01-01 2024-12-31 10505382 frs-bus:SmallEntities 2024-01-01 2024-12-31 10505382 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10505382 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10505382 frs-bus:Director1 2024-01-01 2024-12-31 10505382 frs-bus:Director2 2024-01-01 2024-12-31 10505382 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 10505382 frs-countries:EnglandWales 2024-01-01 2024-12-31 10505382 2022-12-31 10505382 2023-12-31 10505382 2023-01-01 2023-12-31 10505382 frs-core:CurrentFinancialInstruments 2023-12-31 10505382 frs-core:Non-currentFinancialInstruments 2023-12-31 10505382 frs-core:ShareCapital 2023-12-31 10505382 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 10505382
RICHMANS ASSOCIATES LTD
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 10505382
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,062 728
Investment Properties 5 1,366,000 1,571,000
1,367,062 1,571,728
CURRENT ASSETS
Debtors 1,490 -
Cash at bank and in hand 7,639 4,795
9,129 4,795
Creditors: Amounts Falling Due Within One Year 6 (513,779 ) (851,569 )
NET CURRENT ASSETS (LIABILITIES) (504,650 ) (846,774 )
TOTAL ASSETS LESS CURRENT LIABILITIES 862,412 724,954
Creditors: Amounts Falling Due After More Than One Year 7 (944,544 ) (568,026 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (202 ) (32,979 )
NET (LIABILITIES)/ASSETS (82,334 ) 123,949
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (83,334 ) 122,949
SHAREHOLDERS' FUNDS (82,334) 123,949
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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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Richard Freeman
Director
26/09/2025
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
RICHMANS ASSOCIATES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 10505382 . The registered office is 62 Chalkpit Lane, Oxted, RH8 0NE.
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. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
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. 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 33.33% per annum on Straight Line Basis
Computer Equipment 20% per annum on a Straight Line Basis
2.5. 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.
2.6. Leasing and Hire Purchase Contracts
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
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.
...CONTINUED
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2.7. Taxation - continued
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: 3 (2023: 3)
3 3
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 January 2024 2,106
Additions 833
As at 31 December 2024 2,939
Depreciation
As at 1 January 2024 1,378
Provided during the period 499
As at 31 December 2024 1,877
Net Book Value
As at 31 December 2024 1,062
As at 1 January 2024 728
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 1,571,000
Revaluations (205,000)
As at 31 December 2024 1,366,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT - 368
Other creditors 78 -
Accruals and deferred income 1,500 1,500
Directors' loan accounts 512,201 849,701
513,779 851,569
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 944,544 568,026
Bank Loans are secured over the company's investment properties.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Profit and Loss Account
Profit and loss reserve in the balance sheet include non-distributable profit of Nil (2023 - £98,391).
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