Registration number:
Andy and Leo Properties Ltd
for the Period from 7 February 2022 to 28 February 2023
Andy and Leo Properties Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Andy and Leo Properties Ltd
Company Information
Directors |
Mr A P Hallam Mr L Diez |
Registered office |
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Accountants |
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Andy and Leo Properties Ltd
(Registration number: 13896892)
Balance Sheet as at 28 February 2023
Note |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
40 |
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Retained earnings |
(4,069) |
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Shareholders' deficit |
(4,029) |
For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Andy and Leo Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 7 February 2022 to 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
7 Kings Road
Brislington
Bristol
BS4 3HH
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The accounts are presented in £ sterling and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities, which is the renting of property.
Investment property
Andy and Leo Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 7 February 2022 to 28 February 2023
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Andy and Leo Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 7 February 2022 to 28 February 2023
Financial instruments
Classification
Recognition and measurement
Impairment
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows, discounted at the assets original effective interest rate.
Fir financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying value and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investment properties |
2023 |
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Additions |
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At 28 February |
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The investment property has been shown at cost, as the directors, who are not professionally qualified valuers, do not consider its current value to be materially different.
No depreciation of the invesment property has been provided for. If this was provided for, then the initial provision would have been £1,702.
There has been no valuation of investment property by an independent valuer.
Debtors |
Andy and Leo Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 7 February 2022 to 28 February 2023
Current |
2023 |
Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
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Due after one year |
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Loans and borrowings |
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2023 |
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Due after more than five years |
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After more than five years not by instalments |
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Creditors include loans which are secured of £248,675.
Share capital |
Allotted, called up and fully paid shares
2023 |
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No. |
£ |
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20 |
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10 |
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10 |
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Andy and Leo Properties Ltd
Notes to the Unaudited Financial Statements for the Period from 7 February 2022 to 28 February 2023
Loans and borrowings |
2023 |
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Non-current loans and borrowings |
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Other borrowings |
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Included in the loans and borrowings are the following amounts due after more than five years:
Borrowings due after five years
The loans are interest only loans which are due for repayment 18 years from the balance sheet date. The average interest rate charged in the period was 4.28%.