REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
AMBLESIDE PROPERTY HOLDINGS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
AMBLESIDE PROPERTY HOLDINGS LIMITED |
AMBLESIDE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: NI680427) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AMBLESIDE PROPERTY HOLDINGS LIMITED |
Company Information |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Rathmore House |
52 St Patricks Avenue |
Downpatrick |
Co. Down |
BT30 6DS |
AMBLESIDE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: NI680427) |
Abridged Balance Sheet |
30 JUNE 2023 |
30/6/23 | 30/6/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
AMBLESIDE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: NI680427) |
Abridged 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 |
AMBLESIDE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: NI680427) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Ambleside Property Holdings 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. |
Tangible fixed assets |
All tangible fixed assets are initially recorded at historic cost. This includes legal fees, stamp duty and other non-refundable purchase taxes, and also any costs directly attributable to bring the asset to the location and condition necessary for it to be capable of operating in the manner intended by management, which can include the cost of site preparation, initial delivery and handling, installation and assembly, and testing of functionality. |
Depreciation |
Depreciation is provided on all tangible assets at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Freehold property | - 2% on cost |
The residual value and useful lives of tangible assets are considered annually for indicators that these may have changed. When such indicators are present, a review is carried out of the residual value, depreciation methods and useful lives, and these will be amended if necessary. Changes in deprecation rates arising from this review are accounted for prospectively over the remaining useful lives of the assets. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
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. |
AMBLESIDE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: NI680427) |
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. |
Going concern |
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern.. |
At the balance sheet date, the company's current liabilities exceeded its current assets.The company currently has sufficient cash reserves to repay its current creditor obligations and has received assurance from the directors that they will if required give financial support to the company for twelve months from the date of signing these financial statements. |
On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Investments |
Listed asset investments are not held for immediate sale or reinvestment and as such have been classified as fixed assets by the company. Assets in this category are initially measured at cost and transaction costs are expensed through the profit and loss. After initial recognition, assets in this category shall be measured at fair value, without any deductions for transaction costs that may be incurred on sale or other disposal. Any unrealised gains due to the subsequent fair value are recorded in the profit and loss account. Unrealised gains are not allowable for distribution. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
AMBLESIDE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: NI680427) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
Additions | 10,000 |
At 30 June 2023 | 10,000 |
NET BOOK VALUE |
At 30 June 2023 | 10,000 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 30 June 2023 and the period ended 30 June 2022: |
30/6/23 | 30/6/22 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |