Registered number
12029097
AAR Property Solutions Limited
Filleted Accounts
30 June 2023
AAR Property Solutions Limited
Registered number: 12029097
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 - 3,500
Cash at bank and in hand 45,709 25,581
45,709 29,081
Creditors: amounts falling due within one year 4 (25,525) (23,498)
Net current assets 20,184 5,583
Total assets less current liabilities 20,184 5,583
Creditors: amounts falling due after more than one year 5 (9,000) (15,000)
Net assets/(liabilities) 11,184 (9,417)
Capital and reserves
Called up share capital 1 1
Profit and loss account 11,183 (9,418)
Shareholder's funds 11,184 (9,417)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. AA Rahman
Director
Approved by the board on 8 August 2023
AAR Property Solutions Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future based on the continuing support of the director and its loan creditors. The company therefore continues to adopt the going concern basis in preparing its financial statements
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from property rental services.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors - 3,500
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade & other creditors (includes directors loans) 25,525 23,498
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 9,000 15,000
6 Other information
AAR Property Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Studley Terrace
Newcastle upon Tyne
Tyne & Wear
NE4 5PA
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