REGISTERED NUMBER: |
A.I.P.I. LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
REGISTERED NUMBER: |
A.I.P.I. LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
A.I.P.I. LIMITED (REGISTERED NUMBER: 04692178) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
A.I.P.I. LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Registered Auditors |
16 Lambourne Crescent |
Cardiff Business Park |
Llanishen |
Cardiff |
CF14 5GF |
SOLICITORS: |
454 Altair House |
Falcon Drive |
Cardiff |
CF10 4RH |
A.I.P.I. LIMITED (REGISTERED NUMBER: 04692178) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
A.I.P.I. LIMITED (REGISTERED NUMBER: 04692178) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
A.I.P.I. LIMITED (REGISTERED NUMBER: 04692178) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
A.I.P.I. Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis. |
Turnover |
Turnover comprises rental income from investment properties, and is accounted for on a cash received basis. |
Tangible fixed assets |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit from changes in fair value is recognised in the revaluation reserve. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
A.I.P.I. LIMITED (REGISTERED NUMBER: 04692178) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST OR VALUATION |
At 1st April 2023 |
and 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Cost or valuation at 31st March 2024 is represented by: |
Computer |
equipment |
£ |
Cost | 1,442 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2005 | 344,910 |
Valuation in 2006 | 205,000 |
Valuation in 2017 | (332,000 | ) |
Valuation in 2018 | 45,000 |
Valuation in 2019 | (140,000 | ) |
Cost | 727,090 |
850,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 727,090 | 727,090 |
Investment properties were valued on existing use basis on 16th July 2018 by Astleys Chartered Surveyors . |
A.I.P.I. LIMITED (REGISTERED NUMBER: 04692178) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
5. | INVESTMENT PROPERTY - continued |
Investment properties have been valued at fair value using the directors valuations for the year ended 31.03.2022.. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st April 2023 |
and 31st March 2024 |
A.I.P.I. LIMITED (REGISTERED NUMBER: 04692178) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The loan from directors are interest free and have no fixed term for repayment. |
Loans provided to directors are payable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr D J Morgan. |