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Registered number: 11606565
All Souls Development Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11606565
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 980,000 1,200,000
980,000 1,200,000
CURRENT ASSETS
Cash at bank and in hand 46,606 9,594
46,606 9,594
Creditors: Amounts Falling Due Within One Year 5 (11,680 ) (10,060 )
NET CURRENT ASSETS (LIABILITIES) 34,926 (466 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,014,926 1,199,534
Creditors: Amounts Falling Due After More Than One Year 6 (985,041 ) (935,385 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,068 ) (55,560 )
NET ASSETS 19,817 208,589
CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 42,922 236,860
Profit and Loss Account (23,205 ) (28,371 )
SHAREHOLDERS' FUNDS 19,817 208,589
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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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Goode
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
All Souls Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11606565 . The registered office is Bank House, 81 St Judes Road, Englefield Green, Surrey, TW20 0DF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.
2.3. Turnover
Turnover represents rents receivable on properties within the UK. Rents are receivable on a weekly and montlhy basis and where payments are receivable from tenants for periods ending after the balance sheets date, the relvant proportion of rent receivable is recorded as deferred income and included as part of creditors due within one year. 
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Land & Property
Freehold
£
Cost or Valuation
As at 1 November 2022 1,200,000
Additions 19,430
Revaluation (239,430)
As at 31 October 2023 980,000
Net Book Value
As at 31 October 2023 980,000
As at 1 November 2022 1,200,000
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
BBL due <1 years 10,000 10,000
Accruals and deferred income 1,680 60
11,680 10,060
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6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans > 5yr 399,656 340,000
BBL due 1-2 years 10,000 10,000
BBL due 2-5 years 6,667 16,667
Amounts owed by/to other participating interests 568,718 568,718
985,041 935,385
The bank loan is part of the BBL Scheme that was launched on 27 April 2020. The scheme is 100% government backed. The interest rate is 2.5% per year and the term of the loan is 5 years, and early repayment is possible without additional charges.
Amounts falling due in more than five years:
2023 2022
£ £
Bank loans - 340,000
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
8. Related Party Transactions
R H G Gunn and A Goode are also directors of Walden Real Estate Ltd. At the year end Walden Real Estate Ltd was owed £145,047 (2022: £145,047).
D J Van Den Heever is also a director of Casa Mia Property Management Limited. At the year end Casa Mia Property Management Limited was owed £169,580 (2022: £169,580).
A Goode is also a director of A Goode Sports ltd. At the year end A Goode Sports ltd was owed £254,092 (2022: £254,092).
The controlling parties are the company directors by virtue of their shareholdings.
9. Taxation
The company has carried forward losses of £23,206 (2022 - £28,371) which it can use against future taxable profits.
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