REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
Autumnpark Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
Autumnpark Limited |
Autumnpark Limited (Registered number: 01869390) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Autumnpark Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Cabourn House |
Station Street |
Bingham |
Nottinghamshire |
NG13 8AQ |
Autumnpark Limited (Registered number: 01869390) |
Balance Sheet |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Revaluation reserve | 10 |
Capital redemption reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Autumnpark Limited (Registered number: 01869390) |
Balance Sheet - continued |
30 June 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Autumnpark Limited (Registered number: 01869390) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Autumnpark Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Where the rental period straddles the financial year end, the proportion that relates to the following year is deferred. Equally if the invoice falls in the following year, any element of the sale that relates to the current year is accrued. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Tangible fixed assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently, tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Movements in these fair values are transferred to the revaluation reserve for a clear separation of realised and unrealised gains and losses and also for the purposes of separating distributable and un-distributable reserves. |
The deferred taxation arising on the revaluation gains or losses is transferred to the revaluation reserve in order to align the tax charge provided against the revaluation shown in the financial statements. |
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 or deferred taxation assets and liabilities are not discounted. |
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 balance sheet date. |
Autumnpark Limited (Registered number: 01869390) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2022 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Autumnpark Limited (Registered number: 01869390) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Fair value at 30 June 2023 is represented by: |
£ |
Valuation in 2023 | 2,755,400 |
Cost | 514,467 |
3,269,867 |
If the investment property had not been revalued it would have been included at the following historical cost: |
30.6.23 | 30.6.22 |
£ | £ |
Cost | 1,764,319 | 1,764,319 |
Investment property was valued at current market value of the freehold interests subject to and with the benefit of the existing leases. The valuation was carried out March 2018 by Savills (UK) Limited in accordance with RICS valuation standards. |
6. | DEBTORS |
30.6.23 | 30.6.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Prepayments |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
Autumnpark Limited (Registered number: 01869390) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade creditors |
Tax |
VAT | 8,123 | 7,653 |
Other creditors |
Directors' current accounts | 55,928 | 77,825 |
Accruals and deferred income |
8. | PROVISIONS FOR LIABILITIES |
30.6.23 | 30.6.22 |
£ | £ |
Deferred tax | 43,264 | 39,624 |
Deferred |
tax |
£ |
Balance at 1 July 2022 |
Charge to Income Statement during year |
Change in rate used |
Balance at 30 June 2023 |
Of the deferred tax provision at the period end, £28,315 (PY: £28,315) relates to the revaluation of investment properties and £14,949 (PY: £11,309) relates to accelerated capital allowances. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary A | £1 | 260 | 260 |
Ordinary B | £1 | 2,600 | 2,600 |
2,860 | 2,860 |
The "A" & "B" rank pari passu. |
Autumnpark Limited (Registered number: 01869390) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
10. | RESERVES |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 July 2022 | 9,557,178 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 June 2023 | 9,414,916 |
Retained earnings |
This reserve represents cumulative profits and losses net of distributions to owners. |
Revaluation reserve |
This reserve represents the cumulative gains and losses on the revaluation of investment properties, net of deferred taxation. |
Capital redemption reserve |
A non-distributable reserve created from the buy back by the company of share capital. |
11. | RELATED PARTY DISCLOSURES |
The company also had transactions with a company which owns 50% of the issued share capital of the company. |
At the balance sheet date, a total of £3,097,185 (2022: £3,097,185) was due to the company from the related party. |