Caseware UK (AP4) 2022.0.179 2022.0.179 commercial property rentaltrue2022-07-01false2false1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04232505 2022-07-01 2023-06-30 04232505 2021-07-01 2022-06-30 04232505 2023-06-30 04232505 2022-06-30 04232505 2021-07-01 04232505 c:Director1 2022-07-01 2023-06-30 04232505 d:OfficeEquipment 2022-07-01 2023-06-30 04232505 d:OfficeEquipment 2023-06-30 04232505 d:OfficeEquipment 2022-06-30 04232505 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 04232505 d:FreeholdInvestmentProperty 2022-07-01 2023-06-30 04232505 d:FreeholdInvestmentProperty 2023-06-30 04232505 d:FreeholdInvestmentProperty 2022-06-30 04232505 d:CurrentFinancialInstruments 2023-06-30 04232505 d:CurrentFinancialInstruments 2022-06-30 04232505 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04232505 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 04232505 d:ShareCapital 2023-06-30 04232505 d:ShareCapital 2022-06-30 04232505 d:ShareCapital 2021-07-01 04232505 d:RevaluationReserve 2023-06-30 04232505 d:RevaluationReserve 2022-06-30 04232505 d:RevaluationReserve 2021-07-01 04232505 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 04232505 d:RetainedEarningsAccumulatedLosses 2023-06-30 04232505 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 04232505 d:RetainedEarningsAccumulatedLosses 2022-06-30 04232505 d:RetainedEarningsAccumulatedLosses 2021-07-01 04232505 c:FRS102 2022-07-01 2023-06-30 04232505 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 04232505 c:FullAccounts 2022-07-01 2023-06-30 04232505 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04232505 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 04232505





 
Philip Anstey Properties Limited          
 
Financial statements          

For the year ended 30 June 2023          

 
Philip Anstey Properties Limited
Registered number:04232505

Balance sheet
As at 30 June 2023


2023

2022
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
2,025
2,790

Investment property
 5 
848,884
848,737

  
850,909
851,527

Current assets
  

Debtors
 6 
946
1,750

Cash at bank and in hand
 7 
14,731
30,390

  
15,677
32,140

Creditors: amounts falling due within one year
 8 
(232,905)
(242,569)

Net current liabilities
  
 
 
(217,228)
 
 
(210,429)

  

Net assets
  
633,681
641,098


Capital and reserves
  

Called up share capital 
  
100
100

Investment property revaluation reserve
  
233,281
233,281

Profit and loss account
  
400,300
407,717

  
633,681
641,098


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 March 2024.



Mr P H Anstey
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 1

 
Philip Anstey Properties Limited
 

Statement of changes in equity
For the year ended 30 June 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2022
100
233,281
407,717
641,098



Profit for the year
-
-
7,583
7,583

Dividends: Equity capital
-
-
(15,000)
(15,000)


At 30 June 2023
100
233,281
400,300
633,681




 


Statement of changes in equity
For the year ended 30 June 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2021
100
233,281
417,193
650,574



Profit for the year
-
-
5,524
5,524

Dividends: Equity capital
-
-
(15,000)
(15,000)


At 30 June 2022
100
233,281
407,717
641,098










The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
Philip Anstey Properties Limited
 
 
Notes to the financial statements
For the year ended 30 June 2023

1.


General information

Philip Anstey Properties Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rate:

Furniture, fittings and equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
Philip Anstey Properties Limited
 
 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value as determined annually by the directors having regard to professional advice taken personally and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

 

Page 4

 
Philip Anstey Properties Limited
 
 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

Page 5

 
Philip Anstey Properties Limited
 
 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees



The average monthly number of employees, including directors, during the year was 2 (2022 -1).


4.


Tangible fixed assets





Furniture, fittings and equipment

£



Cost


At 1 July 2022
86,780



At 30 June 2023

86,780



Depreciation


At 1 July 2022
83,990


Charge for the year
765



At 30 June 2023

84,755



Net book value



At 30 June 2023
2,025



At 30 June 2022
2,790

Page 6

 
Philip Anstey Properties Limited
 
 
Notes to the financial statements
For the year ended 30 June 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
848,737


Additions at cost
147



At 30 June 2023
848,884

The 2023 valuations were made by the directors, having regard to professional advice taken personally, on an open market value for existing use basis.





If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
615,603
615,456


6.


Debtors

2023
2022
£
£


Trade debtors
-
1,750

Prepayments and accrued income
946
-

946
1,750



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,731
30,390


Page 7

 
Philip Anstey Properties Limited
 
 
Notes to the financial statements
For the year ended 30 June 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to associated company
2,457
3,357

Corporation tax
1,703
1,197

Other taxation and social security
3,771
4,097

Other creditors
186,274
193,389

Accruals and deferred income
38,700
40,529

232,905
242,569



9.


Related party transactions

At the balance sheet date £2,457 (2022 - £3,357) was owed to The China Brush Company Limited, an associated company. No interest was due on this loan.
 

 
Page 8