AFD Property Limited 11759935 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 11759935 2022-02-01 2023-01-31 11759935 2023-01-31 11759935 bus:OrdinaryShareClass1 2023-01-31 11759935 core:RetainedEarningsAccumulatedLosses 2023-01-31 11759935 core:ShareCapital 2023-01-31 11759935 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 11759935 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 11759935 bus:SmallEntities 2022-02-01 2023-01-31 11759935 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 11759935 bus:FullAccounts 2022-02-01 2023-01-31 11759935 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 11759935 bus:RegisteredOffice 2022-02-01 2023-01-31 11759935 bus:Director1 2022-02-01 2023-01-31 11759935 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 11759935 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 11759935 countries:UnitedKingdom 2022-02-01 2023-01-31 11759935 2022-01-31 11759935 2021-02-01 2022-01-31 11759935 2022-01-31 11759935 bus:OrdinaryShareClass1 2022-01-31 11759935 core:RetainedEarningsAccumulatedLosses 2022-01-31 11759935 core:ShareCapital 2022-01-31 11759935 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 11759935 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11759935

AFD Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

AFD Property Limited

Contents

Company Information

1

Statement Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

AFD Property Limited

Company Information

Director

Mr Alessandro Fransesco Dato

Registered office

255 Deansgate
Manchester
M3 4EN

Accountants

Bright Partnership LLP
26 Edward Court
Broadheath
Altrincham
WA14 5GL

 

AFD Property Limited

(Registration number: 11759935)
Statement Financial Position as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

3

156,924

156,924

Current assets

 

Cash at bank and in hand

 

1,466

583

Creditors: Amounts falling due within one year

5

(37,244)

(37,243)

Net current liabilities

 

(35,778)

(36,660)

Total assets less current liabilities

 

121,146

120,264

Creditors: Amounts falling due after more than one year

5

(127,849)

(127,702)

Net liabilities

 

(6,703)

(7,438)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(6,704)

(7,439)

Shareholders' deficit

 

(6,703)

(7,438)

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 November 2023
 

.........................................
Mr Alessandro Fransesco Dato
Director

 

AFD Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

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.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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

 

AFD Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

3

Investment properties

2023
£

At 1 February

156,924

At 31 January

156,924

 

AFD Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Debtors

Current

2023
£

2022
£

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

960

960

Other creditors

36,284

36,283

37,244

37,243

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

127,849

127,702

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1