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COMPANY REGISTRATION NUMBER: 01242266
A. M. B. PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2023
A. M. B. PROPERTIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
A. M. B. PROPERTIES LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
A. M. Brenner
Company secretary
E. R. Brenner
Registered office
Lynton House
7 - 12 Tavistock Square
London
WC1H 9BQ
A. M. B. PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
2,130,418
2,130,418
CURRENT ASSETS
Cash at bank and in hand
8,499
12,905
CREDITORS: amounts falling due within one year
5
( 372,263)
( 394,832)
---------
---------
NET CURRENT LIABILITIES
( 363,764)
( 381,927)
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,766,654
1,748,491
CREDITORS: amounts falling due after more than one year
6
( 1,592,528)
( 1,578,685)
------------
------------
NET ASSETS
174,126
169,806
------------
------------
CAPITAL AND RESERVES
Called up share capital
1,000
1,000
Profit and loss account
173,126
168,806
---------
---------
SHAREHOLDERS FUNDS
174,126
169,806
---------
---------
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 income statement has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 15 March 2024 , and are signed on behalf of the board by:
A. M. Brenner
Director
Company registration number: 01242266
A. M. B. PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Lynton House, 7 - 12 Tavistock Square, London, WC1H 9BQ.
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 on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Freehold property
£
Cost
At 1 July 2022 and 30 June 2023
2,130,418
------------
Depreciation
At 1 July 2022 and 30 June 2023
------------
Carrying amount
At 30 June 2023
2,130,418
------------
At 30 June 2022
2,130,418
------------
The freehold properties were purchased by the company at a cost of £1,246,675 and have been re-valued by the directors.
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,000
6,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest
5,592
10,122
Social security and other taxes
1,593
2,091
Other creditors
359,078
376,619
---------
---------
372,263
394,832
---------
---------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Deferred loans - Parkland
1,238,902
1,225,059
Deferred loans - AMSB
353,626
353,626
------------
------------
1,592,528
1,578,685
------------
------------