0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 259,031 259,031 259,031 xbrli:pure xbrli:shares iso4217:GBP 14262641 2022-08-01 2023-07-31 14262641 2023-07-31 14262641 2022-07-31 14262641 bus:Director1 2022-08-01 2023-07-31 14262641 core:LandBuildings core:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 14262641 core:AfterOneYear 2023-07-31 14262641 core:WithinOneYear 2023-07-31 14262641 core:ShareCapital 2023-07-31 14262641 core:RetainedEarningsAccumulatedLosses 2023-07-31 14262641 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 14262641 bus:SmallEntities 2022-08-01 2023-07-31 14262641 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 14262641 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 14262641 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 14262641 bus:FullAccounts 2022-08-01 2023-07-31 14262641 core:AfterOneYear 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: 14262641
AJ & FE PRIESTLEY LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 July 2023
AJ & FE PRIESTLEY LTD
STATEMENT OF FINANCIAL POSITION
31 July 2023
2023
Note
£
Fixed assets
Tangible assets
4
259,031
Current assets
Cash at bank and in hand
83,859
Creditors: amounts falling due within one year
5
178,278
----------
Net current liabilities
94,419
----------
Total assets less current liabilities
164,612
Creditors: amounts falling due after more than one year
6
176,610
----------
Net liabilities
( 11,998)
----------
Capital and reserves
Called up share capital
100
Profit and loss account
( 12,098)
---------
Shareholders deficit
( 11,998)
---------
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 period ending 31 July 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 period 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 3 April 2024 , and are signed on behalf of the board by:
Mr A J Priestley
Director
Company registration number: 14262641
AJ & FE PRIESTLEY LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 31 JULY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Glebe Farmhouse, Bracebridge Heath, Lincoln, Lincolnshire, LN4 2HZ, England.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
4. Tangible assets
Freehold property
£
Cost
At 1 August 2022
Additions
259,031
----------
At 31 July 2023
259,031
----------
Depreciation
At 1 August 2022 and 31 July 2023
----------
Carrying amount
At 31 July 2023
259,031
----------
5. Creditors: amounts falling due within one year
2023
£
Directors Loan Account
177,528
Other creditors
750
----------
178,278
----------
6. Creditors: amounts falling due after more than one year
2023
£
Bank loans and overdrafts
176,610
----------
Creditors due over one year includes bank loans of £176,610 which are secured against the freehold property of the company.