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Registration number: 03954737

Apsley Estates Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2023

image-name
 

Apsley Estates Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 10

 

Apsley Estates Ltd

Company Information

Directors

Mrs Victoria Berensen

Mr Geoffrey Dart

Registered office

Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

Accountants

Integer
Chartered Accountants
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Apsley Estates Ltd
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Apsley Estates Ltd for the year ended 28 February 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Apsley Estates Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Apsley Estates Ltd and state those matters that we have agreed to state to the Board of Directors of Apsley Estates Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Apsley Estates Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Apsley Estates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Apsley Estates Ltd. You consider that Apsley Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Apsley Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Integer
Chartered Accountants
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

28 November 2023

 

Apsley Estates Ltd

(Registration number: 03954737)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

506

222

Investments

5

210

210

Other financial assets

6

129,785

234,575

 

130,501

235,007

Current assets

 

Debtors

200,993

183,917

Cash at bank and in hand

 

6,880

35,122

 

207,873

219,039

Prepayments and accrued income

 

2,927

2,504

Creditors: Amounts falling due within one year

(305,822)

(328,142)

Net current liabilities

 

(95,022)

(106,599)

Total assets less current liabilities

 

35,479

128,408

Accruals and deferred income

 

(1,400)

(1,000)

Net assets

 

34,079

127,408

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

34,077

127,406

Shareholders' funds

 

34,079

127,408

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

 

Apsley Estates Ltd

(Registration number: 03954737)
Abridged Balance Sheet as at 28 February 2023

.........................................
Mrs Victoria Berensen
Director

 

Apsley Estates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 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 abridged 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 abridged 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.

Going concern

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

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.

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

Fixtures and fittings

15% straight line

Office equipment

33% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2

Staff numbers

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

 

Apsley Estates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

3

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

136

671

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

14,488

14,488

Additions

420

420

At 28 February 2023

14,908

14,908

Depreciation

At 1 March 2022

14,266

14,266

Charge for the year

136

136

At 28 February 2023

14,402

14,402

Carrying amount

At 28 February 2023

506

506

At 28 February 2022

222

222

 

Apsley Estates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

5

Investments

Subsidiaries

£

Cost or valuation

At 1 March 2022

215

Provision

At 1 March 2022

5

Carrying amount

At 28 February 2023

210

At 28 February 2022

210

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Chesterfield Capital Ltd

Unit 3 Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

England

Ordinary

100%

100%

Brent Tree Estates Ltd (formerly Photonics UV Ltd)

Unit 3 Upp Hall Farm, Salmons Lane, Colchester, Essex, CO6 1RY

England

Ordinary

100%

100%

Gilbert Capital Ltd

Unit 3 Upp Hall Farm, Salmons Lane, Colchester, Essex, CO6 1RY

England

Ordinary

100%

100%

 

Apsley Estates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

Subsidiary undertakings

Chesterfield Capital Ltd

The principal activity of Chesterfield Capital Ltd is consultancy services.

Brent Tree Estates Ltd (formerly Photonics UV Ltd)

The principal activity of Brent Tree Estates Ltd (formerly Photonics UV Ltd) is Dormant.

Gilbert Capital Ltd

The principal activity of Gilbert Capital Ltd is introducer.

 

Apsley Estates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

6

Other investments in shares

Other investments in shares at fair value less impairment
£

Total
£

Other investments in shares

Cost or valuation

At 1 March 2022

258,080

258,080

Revaluations

(111,380)

(111,380)

Additions

59,810

59,810

Disposals

(53,225)

(53,225)

At 28 February 2023

153,285

153,285

Impairment

At 1 March 2022

23,500

23,500

At 28 February 2023

23,500

23,500

Carrying amount

At 28 February 2023

129,785

129,785

The market value of the listed investments at 28 February 2023 was £89,616 (2022 - £175,771).

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £4,000.00 (2022 - £2,000.00) per ordinary share

 

8,000

 

4,000

         
 

Apsley Estates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

9

Related party transactions

Transactions with directors

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mrs Victoria Berensen

Directors loan account

(286,865)

43,230

(30,883)

(274,518)

         
       

 

2022

At 1 March 2021
£

Advances to director
£

Repayments by director
£

At 28 February 2022
£

Mrs Victoria Berensen

Directors loan account

(255,220)

11,136

(42,782)

(286,865)

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

6,958

7,354

In respect of the highest paid director:

2023
£

2022
£

Remuneration

6,958

7,353

Summary of transactions with subsidiaries

Apsley Estates owns 100% of Chesterfield Capital Ltd and Gilbert Capital Ltd.
At 28th February 2022 the company owed £30,082 (2022 : £30,122) to Gibert Capital Ltd and Chesterfield Capital Ltd owed £195,664 (2022 : £146,939) to the company.

 During the year the company recevied a dividend of £50,000 from Chesterfield Capital Ltd
 All loans between the company and its subsidiaries are interest free and have no fixed repayment date