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Company Registration No. 02834347 (England and Wales)
ANGLESOURCE LIMITED Unaudited accounts for the year ended 31 July 2023
ANGLESOURCE LIMITED Unaudited accounts Contents
Page
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ANGLESOURCE LIMITED Company Information for the year ended 31 July 2023
Directors
Simon Arora Bobby Arora
Company Number
02834347 (England and Wales)
Registered Office
Room 4.02 Station House Stamford New Road Altrincham WA14 1EP United Kingdom
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ANGLESOURCE LIMITED Accountants' report
Accountants' report to the board of directors of ANGLESOURCE LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ANGLESOURCE LIMITED for the year ended 31 July 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of ANGLESOURCE LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of ANGLESOURCE LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ANGLESOURCE LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that ANGLESOURCE LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ANGLESOURCE LIMITED. You consider that ANGLESOURCE LIMITED 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 ANGLESOURCE LIMITED. 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.
21 September 2023
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ANGLESOURCE LIMITED Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investments
2,844,002 
2,632,328 
Current assets
Debtors
8,928 
59,305 
Cash at bank and in hand
835,374 
971,914 
844,302 
1,031,219 
Creditors: amounts falling due within one year
(75,782)
(109,045)
Net current assets
768,520 
922,174 
Net assets
3,612,522 
3,554,502 
Capital and reserves
Called up share capital
6 
6 
Share premium
1,659,996 
1,659,996 
Revaluation reserve
118,250 
118,250 
Profit and loss account
1,834,270 
1,776,250 
Shareholders' funds
3,612,522 
3,554,502 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by
Simon Arora Director Company Registration No. 02834347
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ANGLESOURCE LIMITED Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
ANGLESOURCE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02834347. The registered office is Room 4.02, Station House, Stamford New Road, Altrincham, WA14 1EP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 `The Financial Reporting Standard applicable in the UK and Republic of Ireland` and the companies Act 2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Property, plant and equipment
No depreciation is provided on the company`s freehold properties since in the opinion of the directors the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The directors undertake an annual impairment review of these properties. The company`s freehold properties were professionally valued in July 2005. This valuation has been reduced by subsequent depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective January 2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that valuation has not been updated. The company`s freehold properties are revalued in full every five years. Interim valuations are carried out when it is likely that there has been a material change in value.
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ANGLESOURCE LIMITED Notes to the Accounts for the year ended 31 July 2023
4
Investments
Other investments 
£ 
Valuation at 1 August 2022
2,632,328 
Additions
211,674 
Valuation at 31 July 2023
2,844,002 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
59,305 
Other debtors
8,928 
- 
8,928 
59,305 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
(4,169)
7,800 
Trade creditors
56,117 
55,650 
Taxes and social security
15,143 
36,904 
Accruals
513 
513 
Deferred income
8,178 
8,178 
75,782 
109,045 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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