Acorah Software Products - Accounts Production 19.4.351 false true 31 January 2025 1 February 2024 false 1 February 2025 31 January 2026 31 January 2026 SC686397 Christopher Watterson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC686397 2025-01-31 SC686397 2026-01-31 SC686397 2025-02-01 2026-01-31 SC686397 frs-core:CurrentFinancialInstruments 2026-01-31 SC686397 frs-core:Non-currentFinancialInstruments 2026-01-31 SC686397 frs-core:InvestmentPropertyIncludedWithinPPE 2026-01-31 SC686397 frs-core:InvestmentPropertyIncludedWithinPPE 2025-02-01 2026-01-31 SC686397 frs-core:InvestmentPropertyIncludedWithinPPE 2025-01-31 SC686397 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2025-02-01 2026-01-31 SC686397 frs-core:ShareCapital 2026-01-31 SC686397 frs-core:RetainedEarningsAccumulatedLosses 2026-01-31 SC686397 frs-bus:PrivateLimitedCompanyLtd 2025-02-01 2026-01-31 SC686397 frs-bus:FilletedAccounts 2025-02-01 2026-01-31 SC686397 frs-bus:SmallEntities 2025-02-01 2026-01-31 SC686397 frs-bus:AuditExempt-NoAccountantsReport 2025-02-01 2026-01-31 SC686397 frs-bus:SmallCompaniesRegimeForAccounts 2025-02-01 2026-01-31 SC686397 frs-bus:Director1 2025-02-01 2026-01-31 SC686397 frs-countries:Scotland 2025-02-01 2026-01-31 SC686397 2024-01-31 SC686397 2025-01-31 SC686397 2024-02-01 2025-01-31 SC686397 frs-core:CurrentFinancialInstruments 2025-01-31 SC686397 frs-core:Non-currentFinancialInstruments 2025-01-31 SC686397 frs-core:ShareCapital 2025-01-31 SC686397 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31
Registered number: SC686397
Terrafirma Real Estate Limited
Unaudited Financial Statements
For The Year Ended 31 January 2026
14 Newton Place
Glasgow
G3 7PY
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: SC686397
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 242,550 245,000
242,550 245,000
CURRENT ASSETS
Cash at bank and in hand 2,018 1,144
2,018 1,144
Creditors: Amounts Falling Due Within One Year 5 (45,947 ) (171,076 )
NET CURRENT ASSETS (LIABILITIES) (43,929 ) (169,932 )
TOTAL ASSETS LESS CURRENT LIABILITIES 198,621 75,068
Creditors: Amounts Falling Due After More Than One Year 6 (187,257 ) (74,980 )
NET ASSETS 11,364 88
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 11,264 (12 )
SHAREHOLDERS' FUNDS 11,364 88
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For the year ending 31 January 2026 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 his 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 Income Statement.
On behalf of the board
Christopher Watterson
Director
27th October 2026
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Terrafirma Real Estate Limited is a private company, limited by shares, incorporated in Scotland, registered number SC686397 . The registered office is 0/1 2 Rothes Place, Glasgow, G23 5PL.
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. 
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:
Freehold 1% on Cost
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 income statement.
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: NIL (2025: NIL)
- -
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4. Tangible Assets
Investment Properties
£
Cost
As at 1 February 2025 245,000
As at 31 January 2026 245,000
Depreciation
As at 1 February 2025 -
Provided during the period 2,450
As at 31 January 2026 2,450
Net Book Value
As at 31 January 2026 242,550
As at 1 February 2025 245,000
5. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Corporation tax 3,221 1,353
Accruals and deferred income 1,079 950
Director's loan account 41,647 168,773
45,947 171,076
6. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Bank loans 187,257 74,980
7. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 100 100
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