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REGISTERED NUMBER: 04714960 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Anchor Property Holdings Limited

Anchor Property Holdings Limited (Registered number: 04714960)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Anchor Property Holdings Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr G Parkinson
Mrs M Parkinson





SECRETARY: Mrs M Parkinson





REGISTERED OFFICE: 126 High Street
Strood
Rochester
Kent
ME2 4TR





REGISTERED NUMBER: 04714960 (England and Wales)





ACCOUNTANTS: Accsys Accountants (Medway) Limited
F39 Innovation Centre Medway
Chatham
Kent
ME5 9FD

Anchor Property Holdings Limited (Registered number: 04714960)

Statement of Financial Position
30 April 2023

30.4.23 30.4.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 99,923 105,475
Investments 5 1 1
Housing Properties 6 4,750,616 4,399,099
4,850,540 4,504,575

CURRENT ASSETS
Debtors 7 62,911 53,715
Cash at bank and in hand 30,491 69,121
93,402 122,836
CREDITORS
Amounts falling due within one year 8 262,606 233,004
NET CURRENT LIABILITIES (169,204 ) (110,168 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,681,336

4,394,407

CREDITORS
Amounts falling due after more than one
year

9

(1,179,233

)

(1,005,809

)

PROVISIONS FOR LIABILITIES 12 (79,511 ) (78,698 )
NET ASSETS 3,422,592 3,309,900

CAPITAL AND RESERVES
Called up share capital 13 100 100
Non distributable reserves 14 873,319 873,319
Retained earnings 14 2,549,173 2,436,481
SHAREHOLDERS' FUNDS 3,422,592 3,309,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Anchor Property Holdings Limited (Registered number: 04714960)

Statement of Financial Position - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





Mr G Parkinson - Director


Anchor Property Holdings Limited (Registered number: 04714960)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Anchor Property Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements relate to the individual entity only.

The company is a public benefit entity administered by the directors and the board of management.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Statement of Recommended Practice for Social Housing Providers 2018, the Accounting Direction for private registered providers of social housing in England 2022 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets

Preparation of consolidated financial statements
The financial statements contain information about Anchor Property Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rents and service charges received in respect of social housing

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment, fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

At each Statement of Financial Position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Housing property
Social housing properties are carried at fair value determined annually by the directors with periodic professional valuations .Fair value is derived from 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 has been provided on the major components of housing properties. It is the company's practice to maintain these assets in a continual state of sound repair and to make improvements thereto from time to time. Accordingly the company considers that the life of these assets and their residual values (based on prices prevailing at the time of acquisition or subsequent valuation) are such that their depreciation is insignificant.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors, creditors and loans from banks.


Anchor Property Holdings Limited (Registered number: 04714960)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Long leasehold
Leasehold premises with unexpired lease terms of 50 years or less are depreciated by equal annual instalments over the remaining period of the lease. Long leasehold buildings are maintained in a state of good repair and it is considered that residual values, base on prices prevailing at the time of acquisition are such that depreciation is not significant. The departure from the requirement for all properties to be depreciated is, in the opinion of the directors, necessary to give a true and fair view

Operating lease income
Income from operating leases is recognised on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Anchor Property Holdings Limited (Registered number: 04714960)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Equipment,
Long fixtures & Motor
leasehold fittings vehicles Totals
£ £ £ £
COST
At 1 May 2022 68,766 31,532 58,638 158,936
Additions - 3,768 - 3,768
Disposals - - (14,400 ) (14,400 )
At 30 April 2023 68,766 35,300 44,238 148,304
DEPRECIATION
At 1 May 2022 - 19,200 34,261 53,461
Charge for year - 2,415 5,824 8,239
Eliminated on disposal - - (13,319 ) (13,319 )
At 30 April 2023 - 21,615 26,766 48,381
NET BOOK VALUE
At 30 April 2023 68,766 13,685 17,472 99,923
At 30 April 2022 68,766 12,332 24,377 105,475

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 May 2022
and 30 April 2023 1
NET BOOK VALUE
At 30 April 2023 1
At 30 April 2022 1

6. HOUSING PROPERTIES
Total
£
FAIR VALUE
At 1 May 2022 4,399,099
Additions 351,517
At 30 April 2023 4,750,616
NET BOOK VALUE
At 30 April 2023 4,750,616
At 30 April 2022 4,399,099

Anchor Property Holdings Limited (Registered number: 04714960)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. HOUSING PROPERTIES - continued

The housing properties consists of social housing properties held for letting


Accommodation in management

At the end of the financial year accommodation in management for each class of accommodation was as follows:
2023 2022
Number Number
Social housing
General housing
-Social rent 50 47

Total owned 50 47


Rental properties
General housing
- Social rent 49 50


Total owned and managed 99 97

Fair value at 30 April 2023 is represented by:
£
Valuation in 2023 4,750,616

If Housing properties had not been revalued they would have been included at the following historical cost:

30.4.23 30.4.22
£ £
Cost 3,805,569 3,454,052

Housing properties were valued on an open market basis on 30 April 2023 by the directors of the company .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£ £
Trade debtors 45,747 19,560
Amounts owed by group undertakings - 17,645
Other debtors 17,164 16,510
62,911 53,715

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£ £
Bank loans and overdrafts 144,032 145,288
Trade creditors 29,578 6,011
Taxation and social security 51,039 52,986
Other creditors 37,957 28,719
262,606 233,004

Anchor Property Holdings Limited (Registered number: 04714960)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£ £
Bank loans 1,179,233 1,005,809

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 719,431 495,986

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.23 30.4.22
£ £
Within one year 24,300 -
Between one and five years 97,200 -
In more than five years 12,150 -
133,650 -

11. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£ £
Bank loans 1,323,265 1,151,097

All bank loans are secured by fixed charges on individual properties.
The bank loans are repaid in monthly instalments at variable rates of interest.
The variable rates of interest are up to 3% over bank base rate.
Final instalments fall to be repaid in the period from 2025 to 2037

12. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£ £
Deferred tax 79,511 78,698

Deferred tax
£
Balance at 1 May 2022 78,698
Accelerated Capital Allowances 813
Balance at 30 April 2023 79,511

Anchor Property Holdings Limited (Registered number: 04714960)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

13. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £ £
100 Ordinary £1 100 100

14. RESERVES
Non
Retained distributable
earnings reserves Totals
£ £ £

At 1 May 2022 2,436,481 873,319 3,309,800
Profit for the year 242,692 242,692
Dividends (130,000 ) (130,000 )
At 30 April 2023 2,549,173 873,319 3,422,492

15. RELATED PARTY DISCLOSURES

During the year total pension contributions of £24,000 (2022: £24,000) were paid by the company in respect of directors' pension schemes.

Throughout the year under review the company had one wholly owned subsidiary company, Anchor Support Services Limited, which is not regulated by the Social Housing Regulator. The subsidiary company provides support to adults with learning disabilities.

The subsidiary company paid the following remuneration to its directors in connection with the management of that company's affairs:

Salary Pension Other benefits


Mr G. Parkinson £12,532 £376 £575
Mrs M. Parkinson £12,100 £363 -