Silverfin false 31/03/2022 31/03/2022 26/02/2021 J K Ford 26/02/2021 M P Ford 26/02/2021 29 July 2022 The principal activity of the Company during the financial period was property management. 13228298 2022-03-31 13228298 bus:Director1 2022-03-31 13228298 bus:Director2 2022-03-31 13228298 core:CurrentFinancialInstruments 2022-03-31 13228298 core:Non-currentFinancialInstruments 2022-03-31 13228298 core:ShareCapital 2022-03-31 13228298 core:RetainedEarningsAccumulatedLosses 2022-03-31 13228298 core:PlantMachinery 2021-02-25 13228298 core:FurnitureFittings 2021-02-25 13228298 2021-02-25 13228298 core:PlantMachinery 2022-03-31 13228298 core:FurnitureFittings 2022-03-31 13228298 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2022-03-31 13228298 core:Non-currentFinancialInstruments core:Secured 2022-03-31 13228298 core:MoreThanFiveYears 2022-03-31 13228298 2021-02-26 2022-03-31 13228298 bus:FullAccounts 2021-02-26 2022-03-31 13228298 bus:SmallEntities 2021-02-26 2022-03-31 13228298 bus:AuditExemptWithAccountantsReport 2021-02-26 2022-03-31 13228298 bus:PrivateLimitedCompanyLtd 2021-02-26 2022-03-31 13228298 bus:Director1 2021-02-26 2022-03-31 13228298 bus:Director2 2021-02-26 2022-03-31 13228298 core:PlantMachinery 2021-02-26 2022-03-31 13228298 core:FurnitureFittings 2021-02-26 2022-03-31 13228298 core:Non-currentFinancialInstruments 2021-02-26 2022-03-31 iso4217:GBP xbrli:pure

Company No: 13228298 (England and Wales)

ALMYRAPROPERTIES LIMITED

Unaudited Financial Statements
For the financial year from 26 February 2021 to 31 March 2022
Pages for filing with the registrar

ALMYRAPROPERTIES LIMITED

Unaudited Financial Statements

For the financial year from 26 February 2021 to 31 March 2022

Contents

ALMYRAPROPERTIES LIMITED

COMPANY INFORMATION

For the financial year from 26 February 2021 to 31 March 2022
ALMYRAPROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year from 26 February 2021 to 31 March 2022
DIRECTORS J K Ford
M P Ford
REGISTERED OFFICE 21 Wootton Park
Bristol
BS14 9AQ
England
United Kingdom
COMPANY NUMBER 13228298 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
3 Filers Way
Weston Gateway Business Park
Weston-super-Mare
Somerset
BS24 7JP
ALMYRAPROPERTIES LIMITED

BALANCE SHEET

As at 31 March 2022
ALMYRAPROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 March 2022
Note 31.03.2022
£
Fixed assets
Tangible assets 3 1,150
Investment property 4 294,075
295,225
Current assets
Cash at bank and in hand 2,221
2,221
Creditors
Amounts falling due within one year 5 ( 94,712)
Net current liabilities (92,491)
Total assets less current liabilities 202,734
Creditors
Amounts falling due after more than one year 6 ( 209,344)
Net liabilities ( 6,610)
Capital and reserves
Called-up share capital 2
Profit and loss account ( 6,612 )
Total shareholders' deficit ( 6,610)

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Almyraproperties Limited (registered number: 13228298) were approved and authorised for issue by the Board of Directors on 29 July 2022. They were signed on its behalf by:

J K Ford
Director
ALMYRAPROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year from 26 February 2021 to 31 March 2022
ALMYRAPROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year from 26 February 2021 to 31 March 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Almyraproperties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 21 Wootton Park, Bristol, BS14 9AQ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 33 % reducing balance
Fixtures and fittings 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, that are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

Period from
26.02.2021 to
31.03.2022
Number
Monthly average number of persons employed by the Company during the year, including directors 2

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 26 February 2021 0 0 0
Additions 603 975 1,578
At 31 March 2022 603 975 1,578
Accumulated depreciation
At 26 February 2021 0 0 0
Charge for the financial year 157 271 428
At 31 March 2022 157 271 428
Net book value
At 31 March 2022 446 704 1,150

4. Investment property

Investment property
£
Valuation
As at 26 February 2021 0
Additions 294,075
As at 31 March 2022 294,075

5. Creditors: amounts falling due within one year

31.03.2022
£
Amounts owed to connected companies 93,245
Amounts owed to directors 268
Accruals 1,199
94,712

6. Creditors: amounts falling due after more than one year

31.03.2022
£
Bank loans (secured £ 209,334) 209,344

The bank loans are secured on freehold properties of the Company with a carrying value of £288,049.79. Interest is payable on the 25 year bank loan at a fixed rate of 3.44% on the principal amount for a period of 5 years. After the end of the initial period, a variable rate which is 4.99% above Bank of England base rate is applicable for the remainder of the term.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

31.03.2022
£
Bank loans (secured £209,334 / repayable by instalments) 209,344

7. Related party transactions

Transactions with the entity's directors

31.03.2022
£
Directors loan account (268)

The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 March 2021, the balance was nil. During the year, £4,240 was advanced to the directors, and £4,508. was repaid by the directors. The balance at 31 March 2022 was (£268)