Acorah Software Products - Accounts Production 16.5.460 false true 28 February 2024 1 March 2023 false 29 February 2024 28 February 2025 28 February 2025 04892977 H Griffiths T Griffiths T Griffiths iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04892977 2024-02-28 04892977 2025-02-28 04892977 2024-02-29 2025-02-28 04892977 frs-core:CurrentFinancialInstruments 2025-02-28 04892977 frs-core:Non-currentFinancialInstruments 2025-02-28 04892977 frs-core:BetweenOneFiveYears 2025-02-28 04892977 frs-core:ComputerEquipment 2025-02-28 04892977 frs-core:ComputerEquipment 2024-02-29 2025-02-28 04892977 frs-core:ComputerEquipment 2024-02-28 04892977 frs-core:InvestmentPropertyIncludedWithinPPE 2025-02-28 04892977 frs-core:InvestmentPropertyIncludedWithinPPE 2024-02-29 2025-02-28 04892977 frs-core:InvestmentPropertyIncludedWithinPPE 2024-02-28 04892977 frs-core:MotorVehicles 2025-02-28 04892977 frs-core:MotorVehicles 2024-02-29 2025-02-28 04892977 frs-core:MotorVehicles 2024-02-28 04892977 frs-core:PlantMachinery 2025-02-28 04892977 frs-core:PlantMachinery 2024-02-29 2025-02-28 04892977 frs-core:PlantMachinery 2024-02-28 04892977 frs-core:WithinOneYear 2025-02-28 04892977 frs-core:RevaluationReserve 2024-02-29 2025-02-28 04892977 frs-core:RevaluationReserve 2024-02-28 04892977 frs-core:RevaluationReserve 2025-02-28 04892977 frs-core:ShareCapital 2025-02-28 04892977 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 04892977 frs-bus:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 04892977 frs-bus:FilletedAccounts 2024-02-29 2025-02-28 04892977 frs-bus:SmallEntities 2024-02-29 2025-02-28 04892977 frs-bus:AuditExempt-NoAccountantsReport 2024-02-29 2025-02-28 04892977 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-29 2025-02-28 04892977 frs-bus:Director1 2024-02-29 2025-02-28 04892977 frs-bus:Director2 2024-02-29 2025-02-28 04892977 frs-bus:CompanySecretary1 2024-02-29 2025-02-28 04892977 frs-countries:EnglandWales 2024-02-29 2025-02-28 04892977 2023-02-28 04892977 2024-02-28 04892977 2023-03-01 2024-02-28 04892977 frs-core:CurrentFinancialInstruments 2024-02-28 04892977 frs-core:Non-currentFinancialInstruments 2024-02-28 04892977 frs-core:BetweenOneFiveYears 2024-02-28 04892977 frs-core:WithinOneYear 2024-02-28 04892977 frs-core:RevaluationReserve 2024-02-28 04892977 frs-core:ShareCapital 2024-02-28 04892977 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28
Registered number: 04892977
Celtic Property Developments Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Celtic Property Developments Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Celtic Property Developments Limited
Balance Sheet
As At 28 February 2025
Balance Sheet
Registered number: 04892977

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 6,218,352 |  | 5,382,481
|  |  | 6,218,352 |  | 5,382,481
CURRENT ASSETS
Debtors | 5 | 177,500 |  | 726,224 |
Cash at bank and in hand |  | 264,638 |  | 132,103 |
|  | 442,138 |  | 858,327 |
Creditors: Amounts Falling Due Within One Year | 6 | (137,769 ) |  | (81,988 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 304,369 |  | 776,339
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 6,522,721 |  | 6,158,820
Creditors: Amounts Falling Due After More Than One Year | 7 |  | (3,349,489 ) |  | (3,265,457 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 10 |  | (351,496 ) |  | (219,983 )
NET ASSETS |  |  | 2,821,736 |  | 2,673,380
CAPITAL AND RESERVES
Called up share capital | 11 |  | 2 |  | 2
Revaluation reserve | 12 |  | 2,371,106 |  | 1,722,937
Profit and Loss Account |  |  | 450,628 |  | 950,441
SHAREHOLDERS' FUNDS |  |  | 2,821,736 |  | 2,673,380

Page 1
Page 2
Celtic Property Developments Limited
Balance Sheet (continued)
As At 28 February 2025
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

T Griffiths Director
15/10/2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Celtic Property Developments Limited
Notes to the Financial Statements
For The Year Ended 28 February 2025
Notes to the Financial Statements
1. General Information
Celtic Property Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04892977 . The registered office is 5 Barons Court , Usk, Monmouthshire , NP15 1AY.
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 rents receivable and associated charges net of discounts and value added taxes. Turnover is recognised when the services are provided.
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 | 25% reducing balance
Motor Vehicles | 25% reducing balance
Computer Equipment | 33% on cost

2.4. Investment Properties
All investment properties are carried at fair value determined annually by the directors 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. 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.
Page 3
Page 4
Celtic Property Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets

| Investment Properties | Plant & Machinery | Motor Vehicles | Computer Equipment | Total
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Cost or Valuation
As at 29 February 2024 | 5,381,860 | 16,946 | - | 2,699 | 5,401,505
Additions | - | - | 136,701 | - | 136,701
Revaluation | 733,500 | - | - | - | 733,500
As at 28 February 2025 | 6,115,360 | 16,946 | 136,701 | 2,699 | 6,271,706
Depreciation
As at 29 February 2024 | - | 16,325 | - | 2,699 | 19,024
Provided during the period | - | 155 | 34,175 | - | 34,330
As at 28 February 2025 | - | 16,480 | 34,175 | 2,699 | 53,354
Net Book Value
As at 28 February 2025 | 6,115,360 | 466 | 102,526 | - | 6,218,352
As at 29 February 2024 | 5,381,860 | 621 | - | - | 5,382,481

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | - |  | 1
Other debtors | 177,500 |  | 726,223
| 177,500 |  | 726,224

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 4,122 |  | -
Trade creditors | 286 |  | -
Other creditors | 113,249 |  | 81,988
Taxation and social security | 20,112 |  | -
| 137,769 |  | 81,988

7. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 90,175 |  | -
Bank loans | 2,259,314 |  | 1,265,457
Other loans | 1,000,000 |  | 2,000,000
| 3,349,489 |  | 3,265,457

Page 4
Page 5
Celtic Property Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2025
8. Secured Creditors
Of the creditors the following amounts are secured. The bank loans are secured on investment property owned by the company.

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 2,259,314 |  | 1,265,457

9. Obligations Under Finance Leases and Hire Purchase

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 4,122 |  | -
Later than one year and not later than five years | 90,175 |  | -
| 94,297 |  | -
Less: Finance charges allocated to future periods | - |  | -
| 94,297 |  | -

10. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 351,496 |  | 219,983

11. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 2 |  | 2

12. Reserves

| Revaluation Reserve
--- | ---
| £
As at 29 February 2024 | 1,722,937
Surplus on revaluation | 733,500
Transfer to/from profit and loss | (85,331 )
As at 28 February 2025 | 2,371,106

Page 5