Acorah Software Products - Accounts Production 16.5.460 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 09438371 Mr James Beazer Mr Oliver Lazarus Mr Oliver Lazarus iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09438371 2024-02-29 09438371 2025-02-28 09438371 2024-03-01 2025-02-28 09438371 frs-core:CurrentFinancialInstruments 2025-02-28 09438371 frs-core:Non-currentFinancialInstruments 2025-02-28 09438371 frs-core:ShareCapital 2025-02-28 09438371 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 09438371 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 09438371 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 09438371 frs-bus:SmallEntities 2024-03-01 2025-02-28 09438371 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 09438371 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 09438371 frs-bus:Director1 2024-03-01 2025-02-28 09438371 frs-bus:Director2 2024-03-01 2025-02-28 09438371 frs-bus:CompanySecretary1 2024-03-01 2025-02-28 09438371 frs-core:CurrentFinancialInstruments 1 2025-02-28 09438371 frs-core:Non-currentFinancialInstruments 3 2025-02-28 09438371 frs-countries:EnglandWales 2024-03-01 2025-02-28 09438371 2023-02-28 09438371 2024-02-29 09438371 2023-03-01 2024-02-29 09438371 frs-core:CurrentFinancialInstruments 2024-02-29 09438371 frs-core:Non-currentFinancialInstruments 2024-02-29 09438371 frs-core:ShareCapital 2024-02-29 09438371 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09438371 frs-core:CurrentFinancialInstruments 1 2024-02-29 09438371 frs-core:Non-currentFinancialInstruments 3 2024-02-29
Registered number: 09438371
Simply Crafted Asset Management Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Bourne and Bargery Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09438371
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 961,422 961,422
961,422 961,422
CURRENT ASSETS
Debtors 5 147,837 142,707
Cash at bank and in hand 10,644 34,284
158,481 176,991
Creditors: Amounts Falling Due Within One Year 6 (38,068 ) (34,982 )
NET CURRENT ASSETS (LIABILITIES) 120,413 142,009
TOTAL ASSETS LESS CURRENT LIABILITIES 1,081,835 1,103,431
Creditors: Amounts Falling Due After More Than One Year 7 (886,187 ) (936,204 )
NET ASSETS 195,648 167,227
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 195,646 167,225
SHAREHOLDERS' FUNDS 195,648 167,227
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For the year ending 28 February 2025 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 James Beazer
Director
20/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Simply Crafted Asset Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09438371 . The registered office is 9 Newbury Street, London, EC1A 7HU.
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. 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.
2.3. 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: 2 (2024: 2)
2 2
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4. Investment Property
2025
£
Fair Value
As at 1 March 2024 and 28 February 2025 961,422
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 6,000 1,000
Prepayments and accrued income 273 143
6,273 1,143
Due after more than one year
Intercompany Loan - SCUM 141,564 141,564
147,837 142,707
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - (1 )
Bank loans and overdrafts 24,740 25,474
Corporation tax 6,669 3,082
Deposits Held 2,283 2,283
Accruals and deferred income 4,376 4,144
38,068 34,982
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank Loan - Mortgage 572,413 597,429
Intercompany Loan -UM 135,415 160,415
Directors loan account 178,359 178,360
886,187 936,204
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
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9. Related Party Transactions
An intercompany loan exists where Simply Crafted Asset Management Ltd owes £135,415  (2024: £160,415 to Urban Mesh Ltd, which is payable on demand. This is included in other debtors figure.
An intercompany loan exists where Simply Crafted Asset Manangement Ltd is owed £141,564 (2024: £141,564  although this was owed to Simply Crafted Urban Mesh Developments Ltd in 2024) from Simply Urban Mesh Developments Ltd, which is payable on demand. This is included in other creditors figure.
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