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COMPANY REGISTRATION NUMBER: SC220532
Afton Group Holdings Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2023
Afton Group Holdings Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
602
602
Current assets
Debtors
5
280,000
Creditors: amounts falling due within one year
6
1
1
---------
----
Net current assets/(liabilities)
279,999
( 1)
---------
----
Total assets less current liabilities
280,601
601
---------
----
Capital and reserves
Called up share capital
7
539
539
Capital redemption reserve
62
62
Profit and loss account
280,000
---------
----
Shareholders funds
280,601
601
---------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 January 2024 , and are signed on behalf of the board by:
M A C Tasker BSc MRICS
Secretary
Company registration number: SC220532
Afton Group Holdings Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The trading address of the company is 28 Braid Road, Edinburgh EH10 6AD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have assessed the company's ability to continue as a going concern and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the these financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Investments
Shares in group undertakings
£
Cost
At 1 October 2022 and 30 September 2023
602
----
Impairment
At 1 October 2022 and 30 September 2023
----
Carrying amount
At 30 September 2023
602
----
At 30 September 2022
602
----
The company owns 100% of the Ordinary share capital of Afton Estates Limited, whose principal activity is that of holding of investment properties. It also owns 100% of the Ordinary share capital of Second Afton Securities Limited, whose principal activity is that of trading in properties. Both subsidiaries are registered in Scotland.
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
280,000
---------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1
1
----
----
7. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.50 each
2,000
1,000
2,000
1,000
-------
-------
-------
-------
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 0.50 each
1,079
540
1,079
540
-------
----
-------
----
8. Other financial commitments
The company has granted a cross guarantee and floating charge over its assets in favour of Bank of Scotland Plc to secure loan arrangements for properties held by Afton Estates Limited and Second Afton Securities Limited. At the balance sheet date the total bank borrowings for the group were £1,295,438 (2022: £1,497,766).