Company Registration No. 10422224 (England and Wales)
AFR Properties Ltd
Unaudited accounts
for the year ended 31 October 2023
AFR Properties Ltd
Unaudited accounts
Contents
AFR Properties Ltd
Company Information
for the year ended 31 October 2023
Company Number
10422224 (England and Wales)
Registered Office
5 Indigo Drive
Burbage
Hinckley
LE10 2QJ
England
Accountants
Capital Talks LLP
Accountants & Tax consultants
310D - EW Sterling House
Langston Road
Loughton
IG10 3TS
AFR Properties Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
730,822
730,180
Cash at bank and in hand
43,256
40,946
Creditors: amounts falling due within one year
(34,549)
(45,089)
Net current assets/(liabilities)
17,915
(143)
Total assets less current liabilities
748,737
730,037
Creditors: amounts falling due after more than one year
(726,644)
(721,893)
Called up share capital
100
100
Profit and loss account
21,993
8,044
Shareholders' funds
22,093
8,144
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 July 2024 and were signed on its behalf by
Farrukh Rizwani
Director
Company Registration No. 10422224
AFR Properties Ltd
Notes to the Accounts
for the year ended 31 October 2023
AFR Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 10422224. The registered office is 5 Indigo Drive, Burbage, Hinckley, LE10 2QJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
AFR Properties Ltd
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 November 2022
730,180
1,050
731,230
At 31 October 2023
730,180
1,750
731,930
At 1 November 2022
-
1,050
1,050
Charge for the year
-
58
58
At 31 October 2023
-
1,108
1,108
At 31 October 2023
730,180
642
730,822
At 31 October 2022
730,180
-
730,180
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,614
1,508
Loans from directors
32,427
40,831
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
626,644
521,893
Loans from directors
100,000
200,000
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
At 31 October 2023 the company owed £131,893.60/- to F. Rizwani as a result of loans made to the company. The loans are unsecured and interest free.
The Director, F. Rizwani controls the company as a result of controlling directly 100% of the issued share capital.
AFR Properties Ltd
Notes to the Accounts
for the year ended 31 October 2023
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).