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Registered Number: 09798451
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 October 2022

for

AFFRIC INVESTMENTS LIMITED

 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3   1,374 
Investments 4 1,001,986    200 
1,001,986    1,574 
Current assets      
Debtors 5,151    626,549 
Cash at bank and in hand 161,433    231,766 
166,584    858,315 
Creditors: amount falling due within one year (1,601,560)   (1,231,259)
Net current liabilities (1,434,976)   (372,944)
 
Total assets less current liabilities (432,990)   (371,370)
Net liabilities (432,990)   (371,370)
 

Capital and reserves
     
Called up share capital 5 10,000    10,000 
Profit and loss account (442,990)   (381,370)
Shareholder's funds (432,990)   (371,370)
 


For the year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 July 2023 and were signed on its behalf by:


-------------------------------
IL Robertson
Director
1
General Information
Affric Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09798451, registration address 13 St Marys Street, Stamford, PE9 2DE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

There were no employees in the current or previous accounting year.
Average number of employees during the year was 0 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 November 2021 7,404    7,404 
Additions  
Disposals  
At 31 October 2022 7,404    7,404 
Depreciation
At 01 November 2021 6,030    6,030 
Charge for year 1,374    1,374 
On disposals  
At 31 October 2022 7,404    7,404 
Net book values
Closing balance as at 31 October 2022  
Opening balance as at 01 November 2021 1,374    1,374 


4.

Investments

Cost Other investments other than loans   Investments in group undertakings   Total
  £   £   £
At 01 November 2021   200    200 
Additions 1,001,786      1,001,786 
Transfer to/from tangible fixed assets    
Disposals    
At 31 October 2022 1,001,786    200    1,001,986 

5.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
10,000 Class A shares of £1.00 each 10,000    10,000 
10,000    10,000 

2