Acorah Software Products - Accounts Production 16.8.200 false true 30 April 2024 1 May 2023 false 1 May 2024 30 April 2025 30 April 2025 04739174 Mr Niketan Patel Mrs Rebecca Patel Mrs Rebecca Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04739174 2024-04-30 04739174 2025-04-30 04739174 2024-05-01 2025-04-30 04739174 frs-core:CurrentFinancialInstruments 2025-04-30 04739174 frs-core:Non-currentFinancialInstruments 2025-04-30 04739174 frs-core:BetweenOneFiveYears 2025-04-30 04739174 frs-core:ComputerEquipment 2024-05-01 2025-04-30 04739174 frs-core:FurnitureFittings 2025-04-30 04739174 frs-core:FurnitureFittings 2024-05-01 2025-04-30 04739174 frs-core:FurnitureFittings 2024-04-30 04739174 frs-core:MotorVehicles 2025-04-30 04739174 frs-core:MotorVehicles 2024-05-01 2025-04-30 04739174 frs-core:MotorVehicles 2024-04-30 04739174 frs-core:WithinOneYear 2025-04-30 04739174 frs-core:RevaluationReserve 2024-04-30 04739174 frs-core:RevaluationReserve 2025-04-30 04739174 frs-core:SharePremium 2025-04-30 04739174 frs-core:ShareCapital 2025-04-30 04739174 frs-core:RetainedEarningsAccumulatedLosses 2025-04-30 04739174 frs-bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 04739174 frs-bus:FilletedAccounts 2024-05-01 2025-04-30 04739174 frs-bus:SmallEntities 2024-05-01 2025-04-30 04739174 frs-bus:AuditExempt-NoAccountantsReport 2024-05-01 2025-04-30 04739174 frs-bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 04739174 frs-bus:Director1 2024-05-01 2025-04-30 04739174 frs-bus:Director2 2024-05-01 2025-04-30 04739174 frs-bus:CompanySecretary1 2024-05-01 2025-04-30 04739174 frs-countries:EnglandWales 2024-05-01 2025-04-30 04739174 2023-04-30 04739174 2024-04-30 04739174 2023-05-01 2024-04-30 04739174 frs-core:CurrentFinancialInstruments 2024-04-30 04739174 frs-core:Non-currentFinancialInstruments 2024-04-30 04739174 frs-core:BetweenOneFiveYears 2024-04-30 04739174 frs-core:WithinOneYear 2024-04-30 04739174 frs-core:RevaluationReserve 2024-04-30 04739174 frs-core:SharePremium 2024-04-30 04739174 frs-core:ShareCapital 2024-04-30 04739174 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30
Registered number: 04739174
108 Properties Limited
Unaudited Financial Statements
For The Year Ended 30 April 2025
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04739174
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,724 135,792
Investment Properties 5 17,680,164 17,709,164
17,752,888 17,844,956
CURRENT ASSETS
Debtors 6 1,461,842 1,321,222
Cash at bank and in hand 747,901 471,059
2,209,743 1,792,281
Creditors: Amounts Falling Due Within One Year 7 (175,373 ) (186,549 )
NET CURRENT ASSETS (LIABILITIES) 2,034,370 1,605,732
TOTAL ASSETS LESS CURRENT LIABILITIES 19,787,258 19,450,688
Creditors: Amounts Falling Due After More Than One Year 8 (10,590,748 ) (10,055,179 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (253,022 ) (175,612 )
NET ASSETS 8,943,488 9,219,897
CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium account 8,781,014 8,781,014
Revaluation reserve 11 1,258,970 1,258,970
Profit and Loss Account (1,096,596 ) (820,187 )
SHAREHOLDERS' FUNDS 8,943,488 9,219,897
Page 1
Page 2
For the year ending 30 April 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 Niketan Patel
Director
7th January 2026
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
108 Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04739174 . The registered office is 1 London Road, Ipswich, Suffolk, IP1 2HA.
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 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. 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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
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. 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.
Page 3
Page 4
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2024 164,208 49,975 214,183
Additions - 2,978 2,978
Disposals (56,090 ) - (56,090 )
As at 30 April 2025 108,118 52,953 161,071
Depreciation
As at 1 May 2024 41,929 36,462 78,391
Provided during the period 38,293 4,583 42,876
Disposals (32,920 ) - (32,920 )
As at 30 April 2025 47,302 41,045 88,347
Net Book Value
As at 30 April 2025 60,816 11,908 72,724
As at 1 May 2024 122,279 13,513 135,792
5. Investment Property
2025
£
Fair Value
As at 1 May 2024 17,709,164
Disposals (29,000 )
As at 30 April 2025 17,680,164
Page 4
Page 5
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 26,688 35,029
Prepayments and accrued income 14,447 5,501
Directors' loan accounts 302 -
Amounts owed by group undertakings 1,419,460 1,280,332
Amounts owed by associates 945 360
1,461,842 1,321,222
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 5,827 13,285
Trade creditors 811 921
Bank loans and overdrafts 5,640 5,580
Other taxes and social security 877 10
Net wages 1,625 1,625
Other creditors 159,453 153,157
Accruals and deferred income 1,140 1,140
Directors' loan accounts - 10,831
175,373 186,549
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 65,493 98,374
Bank loans 22,645 28,216
Other creditors 10,502,610 9,928,589
10,590,748 10,055,179
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,827 13,285
Later than one year and not later than five years 65,493 98,374
71,320 111,659
71,320 111,659
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
11. Reserves
Revaluation Reserve
£
As at 1 May 2024 1,258,970
As at 30 April 2025 1,258,970
Page 6