Company registration number 10904998 (England and Wales)
AMSU Property Investments Ltd
Unaudited financial statements
For the year ended 31 July 2023
AMSU Property Investments Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
AMSU Property Investments Ltd
Balance sheet
As at 31 July 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
900
Investment property
4
-
0
383,623
-
0
384,523
Current assets
Debtors
5
54,230
1,960
Cash at bank and in hand
7,078
816
61,308
2,776
Creditors: amounts falling due within one year
6
(29,358)
(111,830)
Net current assets/(liabilities)
31,950
(109,054)
Total assets less current liabilities
31,950
275,469
Creditors: amounts falling due after more than one year
7
(11,950)
(211,682)
Provisions for liabilities
-
0
(6,308)
Net assets
20,000
57,479
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
19,900
57,379
Total equity
20,000
57,479

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

AMSU Property Investments Ltd
Balance sheet (CONTINUED)
As at 31 July 2023
31 July 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 22 April 2024 and are signed on its behalf by:
Mrs S C Goodall
Director
Company registration number 10904998 (England and Wales)
AMSU PROPERTY INVESTMENTS LTD
AMSU Property Investments Ltd
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

AMSU Property Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Cheshire, CW5 6PF, Nantwich.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for rent.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

AMSU PROPERTY INVESTMENTS LTD
AMSU Property Investments Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
10,738
Disposals
(10,738)
At 31 July 2023
-
0
Depreciation and impairment
At 1 August 2022
9,838
Eliminated in respect of disposals
(9,838)
At 31 July 2023
-
0
Carrying amount
At 31 July 2023
-
0
At 31 July 2022
900
AMSU PROPERTY INVESTMENTS LTD
AMSU Property Investments Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
4
Investment property
2023
£
Fair value
At 1 August 2022
383,625
Disposals
(383,625)
At 31 July 2023
-
0

The fair value of investment properties is measured by the director on an open market basis.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
54,230
1,960
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,059
2,985
Trade creditors
-
0
1,710
Taxation and social security
5,523
-
0
Other creditors
21,776
107,135
29,358
111,830

Other creditors includes loans from shareholders £nil (2022 £80,145)

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,950
211,682

Bank loans and overdrafts include mortgages of £nil (2021 £197,613) secured by fixed charges over the relevant investment properties.

Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable other than by instalments
-
197,613
AMSU PROPERTY INVESTMENTS LTD
AMSU Property Investments Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Loan
2.25
-
53,974
256
54,230
-
53,974
256
54,230
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