0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 685,000 130,000 555,000 555,000 685,000 xbrli:pure xbrli:shares iso4217:GBP 06220403 2022-04-01 2023-03-31 06220403 2023-03-31 06220403 2022-03-31 06220403 2022-03-31 06220403 bus:Director1 2022-04-01 2023-03-31 06220403 core:WithinOneYear 2023-03-31 06220403 core:WithinOneYear 2022-03-31 06220403 core:AfterOneYear 2023-03-31 06220403 core:AfterOneYear 2022-03-31 06220403 core:LandBuildings 2022-04-01 2023-03-31 06220403 core:ShareCapital 2023-03-31 06220403 core:ShareCapital 2022-03-31 06220403 core:RevaluationReserve 2023-03-31 06220403 core:RevaluationReserve 2022-03-31 06220403 core:RetainedEarningsAccumulatedLosses 2023-03-31 06220403 core:RetainedEarningsAccumulatedLosses 2022-03-31 06220403 core:LandBuildings 2023-03-31 06220403 core:LandBuildings 2022-03-31 06220403 core:LandBuildings 2022-03-31 06220403 bus:SmallEntities 2022-04-01 2023-03-31 06220403 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06220403 bus:FullAccounts 2022-04-01 2023-03-31 06220403 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06220403 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 06220403
A & T PROPERTY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
A & T PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
Fixed Assets
Tangible assets
4
555,000
685,000
Current Assets
Debtors
5
462
482
Cash at bank and in hand
28,802
13,384
---------
---------
29,264
13,866
Creditors: amounts falling due within one year
6
277,496
411,672
-----------
-----------
Net Current Liabilities
248,232
397,806
-----------
-----------
Total Assets Less Current Liabilities
306,768
287,194
Creditors: amounts falling due after more than one year
7
58,464
64,405
-----------
-----------
Net Assets
248,304
222,789
-----------
-----------
A & T PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
2023
2022
Note
£
£
£
£
Capital and Reserves
Called up share capital
1,000
1,000
Revaluation reserve
15,269
45,663
Profit and loss account
232,035
176,126
-----------
-----------
Shareholders Funds
248,304
222,789
-----------
-----------
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 statement of comprehensive income has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her 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 30 October 2023 , and are signed on behalf of the board by:
KMT Nyunt
Director
Company registration number: 06220403
A & T PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Halifax House, 30-34 George Street, Hull, East Yorkshire, HU1 3AJ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover represents rents received from let properties.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment Property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Tangible Assets
Investment properties
£
Cost
At 1 April 2022
685,000
Disposals
( 130,000)
-----------
At 31 March 2023
555,000
-----------
Depreciation
At 1 April 2022 and 31 March 2023
-----------
Carrying amount
At 31 March 2023
555,000
-----------
At 31 March 2022
685,000
-----------
Investment properties have been valued during the year at fair value by the director on the basis of open market value.
5. Debtors
2023
2022
£
£
Other debtors
462
482
-----
-----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,800
7,800
Social security and other taxes
15,163
5,571
Other creditors
254,533
398,301
-----------
-----------
277,496
411,672
-----------
-----------
Bank borrowing is secured against freehold property.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
58,464
64,405
---------
---------
Bank borrowing is secured against freehold property.
Included within creditors: amounts falling due after more than one year is an amount of £35,400 (2022: £43,200) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loan is subject to a rate of interest which varies in accordance with the base rate.