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Registered number: 15297948
AS Hackney Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 15297948
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 177,125 44,750
Investment Properties 5 9,298,050 8,800,000
9,475,175 8,844,750
CURRENT ASSETS
Debtors 6 1,042,224 700,139
Cash at bank and in hand 33,926 420
1,076,150 700,559
Creditors: Amounts Falling Due Within One Year 7 (7,993,456 ) (270,927 )
NET CURRENT ASSETS (LIABILITIES) (6,917,306 ) 429,632
TOTAL ASSETS LESS CURRENT LIABILITIES 2,557,869 9,274,382
Creditors: Amounts Falling Due After More Than One Year 8 (93,451 ) (5,540,711 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,028,174 ) (1,028,174 )
NET ASSETS 1,436,244 2,705,497
CAPITAL AND RESERVES
Called up share capital 10 10 10
Fair value reserve 11 3,084,523 3,084,523
Profit and Loss Account (1,648,289 ) (379,036 )
SHAREHOLDERS' FUNDS 1,436,244 2,705,497
Page 1
Page 2
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 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 Joseph Lowe
Director
Mr George Garnier
Director
24th December 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
AS Hackney Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15297948 . The registered office is 20a Ironmonger Lane, London, EC2V 8EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties, 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. Going Concern Disclosure
At the time of approving the financial statements, the directors have a 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 rendering of services provided in the normal  course of business.
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 20% straight line
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
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.
2.7. 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.
2.8. Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.  The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.  Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.  Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 44,750
Additions 148,787
As at 31 March 2025 193,537
Depreciation
As at 1 April 2024 -
Provided during the period 16,412
As at 31 March 2025 16,412
Net Book Value
As at 31 March 2025 177,125
As at 1 April 2024 44,750
5. Investment Property
2025
£
Fair Value
As at 1 April 2024 8,800,000
Additions 498,050
As at 31 March 2025 9,298,050
Investment property comprises of properties owned by the company in Hackney.  The fair value of the investment property at the balance sheet date was determined by the directors in March 2024.
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Page 5
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 726
Amounts owed by group undertakings 1,041,538 638,309
Other debtors 686 61,104
1,042,224 700,139
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 46,832 -
Bank loans and overdrafts 7,450,720 216,915
Amounts owed to group undertakings 415,133 1,140
Other creditors 75,023 52,872
Taxation and social security 5,748 -
7,993,456 270,927
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 93,451 -
Other creditors - 5,540,711
93,451 5,540,711
The bank loan of £7,450,720 was secured by a fixed charge over all the properties or undertakings of the company.   This loan was repaid in full in May 2025 and the company entered in to a further loan which is also secured on the company property and is repayable in full in 2035.
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 46,832 -
Later than one year and not later than five years 93,451 -
140,283 -
140,283 -
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
Page 5
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11. Reserves
Fair Value Reserve
£
As at 1 April 2024 3,084,523
As at 31 March 2025 3,084,523
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Artistic Spaces Group Ltd, which is incorporated in England and Wales.  The group has taken advantage of the exemption from filing consolidated accounts under the small companies regime. The ultimate controlling parties are Mr J Lowe and Mr G Garnier who control 50% each of the shares of the parent company.
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