Registered number
01329165
Amorgate Properties Ltd
Report and Unaudited Accounts
30 June 2023
Amorgate Properties Ltd
Registered number: 01329165
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,110,500 3,110,500
Current assets
Debtors 4 4,355 -
Cash at bank and in hand 67,529 75,884
71,884 75,884
Creditors: amounts falling due within one year 5 (404,483) (418,716)
Net current liabilities (332,599) (342,832)
Total assets less current liabilities 2,777,901 2,767,668
Provisions for liabilities (614,801) (614,801)
Net assets 2,163,100 2,152,867
Capital and reserves
Called up share capital 2 2
Revaluation reserve 6 1,981,522 1,981,522
Profit and loss account 181,576 171,343
Shareholder's funds 2,163,100 2,152,867
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 her 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.
Y Mansfield
Director
Approved by the board on 29 November 2023
Amorgate Properties Ltd
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2022 3,110,500
At 30 June 2023 3,110,500
Depreciation
At 30 June 2023 -
Net book value
At 30 June 2023 3,110,500
At 30 June 2022 3,110,500
Freehold land and buildings: 2023 2022
£ £
Historical cost 301,863 301,863
Cumulative depreciation based on historical cost 64,645 64,645
237,218 237,218
The property was revalued in the period to reflect a valuation prepared for probate purposes by Clarke Hillyer chartered surveyors.
4 Debtors 2023 2022
£ £
Other debtors 4,355 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 671
Corporation tax (2) 8,141
Other creditors 404,485 409,904
404,483 418,716
6 Revaluation reserve 2023 2022
£ £
At 1 July 2022 1,981,522 1,981,522
At 30 June 2023 1,981,522 1,981,522
7 Other information
Amorgate Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Buckhurst Hill House
214 Queens Road
Buckhurst Hill
Essex
IG9 5AY
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