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COMPANY REGISTRATION NUMBER: 09519243
ABBEYDALE MAJORCA LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2022
ABBEYDALE MAJORCA LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
ABBEYDALE MAJORCA LIMITED
BALANCE SHEET
31 March 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
4
418,135
420,332
Current assets
Cash at bank and in hand
5,989
11,566
Creditors: amounts falling due within one year
5
( 452,225)
( 451,807)
------------
------------
Net current liabilities
( 446,236)
( 440,241)
------------
------------
Total assets less current liabilities
( 28,101)
( 19,909)
------------
------------
Net liabilities
( 28,101)
( 19,909)
------------
------------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
( 28,201)
( 20,009)
------------
------------
Shareholders deficit
( 28,101)
( 19,909)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 September 2022 , and are signed on behalf of the board by:
R B Dey Director
Company registration number: 09519243
ABBEYDALE MAJORCA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Grove Road, Ilkley, West Yorkshire, LS29 9QE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rental income receivable during the financial year.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
No depreciation is charged on freehold properties held for investment purposes.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2021 and 31 March 2022
409,347
41,905
451,252
------------
------------
------------
Depreciation
At 1 April 2021
30,920
30,920
Charge for the year
2,197
2,197
------------
------------
------------
At 31 March 2022
33,117
33,117
------------
------------
------------
Carrying amount
At 31 March 2022
409,347
8,788
418,135
------------
------------
------------
At 31 March 2021
409,347
10,985
420,332
------------
------------
------------
The directors consider that the market value of the property is not materially different to the carrying value such that no impairment provision is required.
5. Creditors: amounts falling due within one year
2022
2021
£
£
Amounts owed to associated undertakings
451,207
451,207
Accruals and deferred income
600
600
Directors' loan account (note 8)
418
------------
------------
452,225
451,807
------------
------------
6. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
7. Related party transactions
The director's loan account of £418 (2021: £nil) is unsecured, repayable on demand and currently interest free. Within creditors is a loan from Abbeydale (Ilkley) Limited, a company controlled by Mr R B Dey and Mrs C E Dey. This loan is unsecured, repayable on demand and currently interest-free. The company is controlled by the directors.
8. Going concern
The directors have confirmed that they will provide adequate working capital to enable the company to continue trading until at least 31 August 2023. Consequently the accounts have been prepared on a going concern basis.