AP Enterprises (Chillington) Ltd |
Notes to the Accounts |
for the year ended 31 July 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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 (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable and comprises just rental income. |
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Tangible fixed assets |
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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 property improvements, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
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Furniture, fittings and equipment |
20% of reducing balance |
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Debtors |
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Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Tangible fixed assets |
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Property improvements |
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Furniture, fittings and equipment |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 August 2022 |
172,574 |
|
108,286 |
|
280,860 |
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Additions |
- |
|
1,500 |
|
1,500 |
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At 31 July 2023 |
172,574 |
|
109,786 |
|
282,360 |
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Depreciation |
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At 1 August 2022 |
- |
|
86,853 |
|
86,853 |
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Charge for the year |
- |
|
4,587 |
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4,587 |
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At 31 July 2023 |
- |
|
91,440 |
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91,440 |
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Net book value |
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At 31 July 2023 |
172,574 |
|
18,346 |
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190,920 |
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At 31 July 2022 |
172,574 |
|
21,433 |
|
194,007 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Debtors and prepayments |
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69 |
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11,225 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Corporation tax |
- |
|
4,320 |
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Director's loan account - Heidi Morris |
10,178 |
|
5,178 |
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Director's loan account - Alexander Page |
282,850 |
|
301,850 |
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Other creditors and accruals |
1,853 |
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3,615 |
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294,881 |
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314,963 |
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6 |
Continuing financial support |
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Similarly to the previous year, the future of the company is dependent upon the continuing financial support of the directors and shareholders, Heidi Morris and Alexander Page, who are the major creditors of the company. With such support having been confirmed, the accounts have been prepared on a going concern basis. |
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7 |
Other information |
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AP Enterprises (Chillington) Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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71 Hollywood Lane |
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Hollywood |
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Birmingham |
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B47 5PX |