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Registration number: 08891957

Absolutely Brilliant Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Absolutely Brilliant Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Absolutely Brilliant Properties Limited

Company Information

Director

RG Greenland

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Absolutely Brilliant Properties Limited

(Registration number: 08891957)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

321

429

Investment property

6

-

60,000

 

321

60,429

Current assets

 

Debtors

7

50,924

96,885

Cash at bank and in hand

 

2,999

3,777

 

53,923

100,662

Creditors: Amounts falling due within one year

8

(2,113)

(1,680)

Net current assets

 

51,810

98,982

Total assets less current liabilities

 

52,131

159,411

Creditors: Amounts falling due after more than one year

8

(40,414)

(84,143)

Provisions for liabilities

-

(2,755)

Net assets

 

11,717

72,513

Capital and reserves

 

Called up share capital

9

5

5

Retained earnings

11,712

72,508

Shareholders' funds

 

11,717

72,513

 

Absolutely Brilliant Properties Limited

(Registration number: 08891957)
Balance Sheet as at 31 March 2023

For the financial 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 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.

Approved and authorised by the director on 15 November 2023
 

.........................................
RG Greenland
Director

 

Absolutely Brilliant Properties Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the director on 15 November 2023.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Absolutely Brilliant Properties Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% Reducing balance method

Investment property

Investment property is shown at the most recent valuation, which the directors deem to be its fair value. Any agregate surplus or deficit arisong from changes in fair value is recognised in profit and 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

108

143

 

Absolutely Brilliant Properties Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

3,416

3,416

At 31 March 2023

3,416

3,416

Depreciation

At 1 April 2022

2,987

2,987

Charge for the year

108

108

At 31 March 2023

3,095

3,095

Carrying amount

At 31 March 2023

321

321

At 31 March 2022

429

429

6

Investment properties

2023
£

At 1 April

60,000

Disposals

(60,000)

At 31 March

-

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current

2023
£

2022
£

Other debtors

50,924

96,885

 

Absolutely Brilliant Properties Limited

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

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

433

-

Accruals and deferred income

1,680

1,680

2,113

1,680

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

40,414

84,143

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

5

5

5

5

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

40,414

45,414

Other borrowings

-

38,729

40,414

84,143

 

Absolutely Brilliant Properties Limited

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

11

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

RG Greenland

Transactions with directors

36,660

75,963

(91,628)

20,995

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

RG Greenland

Transactions with directors

16,759

188,035

(168,134)

36,660

         
       

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,000

7,500

Summary of transactions with other related parties

Asbsolutely Axelrod Properties Ltd
At the balance sheet date the amount due from Absolutely Axelrod Properties Ltd was £29,792 (2022 - £39,900). R Greenland is the director of this company.

Bolton Court Limited
At the balance sheet date the amount due from Bolton Court Limited was £nil (2022 - £13,411). R Greenland is the director of this company.