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Registered number: 12471766
Duong Estate Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12471766
31 March 2025 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 497 425
Investment Properties 5 774,000 785,000
774,497 785,425
CURRENT ASSETS
Debtors 6 14,535 3,072
Cash at bank and in hand 12,374 10,225
26,909 13,297
Creditors: Amounts Falling Due Within One Year 7 (268,844 ) (270,037 )
NET CURRENT ASSETS (LIABILITIES) (241,935 ) (256,740 )
TOTAL ASSETS LESS CURRENT LIABILITIES 532,562 528,685
Creditors: Amounts Falling Due After More Than One Year 8 (578,990 ) (578,990 )
NET LIABILITIES (46,428 ) (50,305 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (46,429 ) (50,306 )
SHAREHOLDERS' FUNDS (46,428) (50,305)
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Duong Nguyen
Director
17/12/2025
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
Duong Estate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12471766 . The registered office is 5 Onslow Close, London, W10 4LZ.
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
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
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:
Computer Equipment 25% on Reducing Balance Method
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. 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: 1 (2024: 1)
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4. Tangible Assets
Computer Equipment
£
Cost or Valuation
As at 1 April 2024 778
Additions 190
As at 31 March 2025 968
Depreciation
As at 1 April 2024 353
Provided during the period 118
As at 31 March 2025 471
Net Book Value
As at 31 March 2025 497
As at 1 April 2024 425
The investment properties are valued, at balance sheet date, by directors of the company based on the assessment of
available market information and property condition. The directors believe that their valuation would not be materially
different from the professional valuation.
5. Investment Property
31 March 2025
£
Fair Value
As at 1 April 2024 785,000
Revaluations (11,000)
As at 31 March 2025 774,000
6. Debtors
31 March 2025 31 March 2024
£ £
Due within one year
Prepayments and accrued income 379 354
Other debtors 2,618 2,718
Other debtors - Keano Properties Ltd 11,538 -
14,535 3,072
7. Creditors: Amounts Falling Due Within One Year
31 March 2025 31 March 2024
£ £
Corporation tax 4,287 2,457
Other taxes and social security - 738
Director's loan account 264,557 266,842
268,844 270,037
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8. Creditors: Amounts Falling Due After More Than One Year
31 March 2025 31 March 2024
£ £
Bank loans 578,990 578,990
9. Share Capital
31 March 2025 31 March 2024
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
Included in creditors due within one year is an amount of £264,557 (2024: £266,842) owed to its directors. The amount is interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is director by virtue of his ownership of 100% of the issued share capital in the company.
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