IRIS Accounts Production v23.3.0.418 04313177 director 1.7.22 30.6.23 30.6.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043131772022-06-30043131772023-06-30043131772022-07-012023-06-30043131772021-06-30043131772021-07-012022-06-30043131772022-06-3004313177ns10:Originalns15:EnglandWales2022-07-012023-06-3004313177ns14:PoundSterlingns10:Original2022-07-012023-06-3004313177ns10:Originalns10:Director12022-07-012023-06-3004313177ns10:Original2022-07-012023-06-3004313177ns10:Original2023-06-3004313177ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3004313177ns10:Originalns10:SmallEntities2022-07-012023-06-3004313177ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3004313177ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3004313177ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3004313177ns10:Originalns10:FullAccounts2022-07-012023-06-3004313177ns10:Original2021-07-012022-06-3004313177ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3004313177ns10:Originalns10:RegisteredOffice2022-07-012023-06-3004313177ns10:Original2022-06-3004313177ns10:Originalns5:CurrentFinancialInstruments2023-06-3004313177ns10:Originalns5:CurrentFinancialInstruments2022-06-3004313177ns10:Originalns5:Non-currentFinancialInstruments2023-06-3004313177ns10:Originalns5:Non-currentFinancialInstruments2022-06-3004313177ns5:ShareCapitalns10:Original2023-06-3004313177ns5:ShareCapitalns10:Original2022-06-3004313177ns10:Originalns5:RevaluationReserve2023-06-3004313177ns10:Originalns5:RevaluationReserve2022-06-3004313177ns10:Originalns5:CapitalRedemptionReserve2023-06-3004313177ns10:Originalns5:CapitalRedemptionReserve2022-06-3004313177ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3004313177ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3004313177ns10:Originalns5:LandBuildings2022-07-012023-06-3004313177ns10:Originalns5:LandBuildings2023-06-3004313177ns10:Original2022-06-3004313177ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3004313177ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3004313177ns5:Securedns10:Original2023-06-3004313177ns5:Securedns10:Original2022-06-3004313177ns10:Originalns10:OrdinaryShareClass12023-06-3004313177ns10:Originalns5:RevaluationReserve2022-06-30
REGISTERED NUMBER: 04313177 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

ANTHONY JOHN CHARLES BETTS LIMITED

ANTHONY JOHN CHARLES BETTS LIMITED (REGISTERED NUMBER: 04313177)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ANTHONY JOHN CHARLES BETTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: A J C Betts





REGISTERED OFFICE: 25 High Street
Flore
Northampton
Northamptonshire
NN7 4LL





REGISTERED NUMBER: 04313177 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

ANTHONY JOHN CHARLES BETTS LIMITED (REGISTERED NUMBER: 04313177)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 778,146 -
Investment property 6 133,500 140,000
911,646 140,000

CURRENT ASSETS
Debtors 7 152,939 -
Cash at bank 637,532 1,049,276
790,471 1,049,276
CREDITORS
Amounts falling due within one year 8 39,746 27,494
NET CURRENT ASSETS 750,725 1,021,782
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,662,371

1,161,782

CREDITORS
Amounts falling due after more than one
year

9

(460,204

)

-

PROVISIONS FOR LIABILITIES (9,227 ) (10,500 )
NET ASSETS 1,192,940 1,151,282

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 12 39,336 44,563
Capital redemption reserve 89,998 89,998
Retained earnings 1,063,604 1,016,719
SHAREHOLDERS' FUNDS 1,192,940 1,151,282

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

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

The director acknowledges his 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.

ANTHONY JOHN CHARLES BETTS LIMITED (REGISTERED NUMBER: 04313177)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 director and authorised for issue on 23 November 2023 and were signed by:





A J C Betts - Director


ANTHONY JOHN CHARLES BETTS LIMITED (REGISTERED NUMBER: 04313177)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Anthony John Charles Betts 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 (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover represents the value, excluding value added tax, of goods supplied to customers during the period. A sale is recognised when revenue and associated costs can be measured reliably and future economic benefits are probable. Revenue is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Land- not provided
Freehold property- 2% on cost

INVESTMENT PROPERTY
In accordance with standard accounting practice, investment properties are revalued annually and the aggregate surplus or deficit is recognised in the income statement. Although standard accounting practice does not require the use of a revaluation reserve, the director believes that the use of such a reserve is necessary for a proper understanding of the company's financial position. Accordingly the investment property revaluation for the year is transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of investment properties.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is the only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified.

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 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.


ANTHONY JOHN CHARLES BETTS LIMITED (REGISTERED NUMBER: 04313177)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. ACCOUNTING POLICIES - continued
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.

DEBTORS RECEIVABLE AND CREDITORS PAYABLE
Debtors and creditors with no stated interest rate and receivable or payable within or after one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 788,925
At 30 June 2023 788,925
DEPRECIATION
Charge for year 10,779
At 30 June 2023 10,779
NET BOOK VALUE
At 30 June 2023 778,146

Included in cost of land and buildings is freehold land of £ 250,000 which is not depreciated.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 140,000
Revaluations (6,500 )
At 30 June 2023 133,500
NET BOOK VALUE
At 30 June 2023 133,500
At 30 June 2022 140,000

ANTHONY JOHN CHARLES BETTS LIMITED (REGISTERED NUMBER: 04313177)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. INVESTMENT PROPERTY - continued

The balance sheet figure comprises cost of £84,937 (2022 - £84,937) plus accumulated surpluses on revaluation of £46,063 (2022 - £55,063).

The investment property was valued at the balance sheet date , by the director, Mr A J C Betts on the basis of open market value at £133,500 (2022 - £140,000). Corporation tax of approximately £9,227 (2022 - £10,500) would arise if the property was sold for this value.

The investment property was sold for £133,500 in the next financial year.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 152,939 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 38,171 -
Taxation and social security - 25,967
Other creditors 1,575 1,527
39,746 27,494

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 460,204 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 280,801 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 498,375 -

The bank loan is secured against the freehold property.

ANTHONY JOHN CHARLES BETTS LIMITED (REGISTERED NUMBER: 04313177)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Revaluation
reserve
£   
At 1 July 2022 44,563
Revaluation (loss)/surplus (6,500 )
Tax on revaluation 1,273

At 30 June 2023 39,336

Although the company is not legally required to maintain a revaluation reserve, in the opinion of the director, it is in the company's best interest to do so.