Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
|
|
|
4,750,000 | 4,990,000 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Investments | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
5,075,796 | 4,506,058 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current assets | 4,944,918 | 4,408,996 | ||
Total assets less current liabilities | 9,694,918 | 9,398,996 | ||
Provision for liabilities | (
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Revaluation reserve |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of A.E. Securities Limited (registered number:
A Haimes
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
A.E. Securities Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Office 5 Riverside Place, Taunton, TA1 1JH, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
The directors assess the market value of investment properties at each period end. This exercise is carried out by using data available in the commercial property sector and their considerable experience in this area to provide the best estimate of the market value at the period end.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Investment property | |
£ | |
Valuation | |
As at 01 January 2023 |
|
Fair value movement | (240,000) |
As at 31 December 2023 |
|
Valuation
The investment properties class of fixed assets was adjusted on 31 December 2023 to fair value by the directors who are internal to the company. The basis of this valuation was open market value.
This class of assets has a current value of £4,750,000 (2022 - £4,990,000) and a carrying amount at historical cost of £4,936,218 (2022 - £4,936,218)
There has been no valuation of investment property by an independent valuer.
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Listed investments – at fair value |
|
|
The fair value of listed investments, which are all traded in active markets, was determined with reference to the quoted market price at the reporting date.
2023 | 2022 | ||
£ | £ | ||
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|