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REGISTERED NUMBER: 04692178 (England and Wales)















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: Mr D J Morgan
Mrs D A Morgan



SECRETARY: Mr J A Lamb



REGISTERED OFFICE: 111 Pontamman Road
Ammanford
Carmarthenshire
SA18 2JD



REGISTERED NUMBER: 04692178 (England and Wales)



ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF



SOLICITORS: Lamb & Co
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 5 850,000 850,000
850,000 850,000

CURRENT ASSETS
Debtors 6 2,327 4,890
Cash at bank 24,567 45,834
26,894 50,724
CREDITORS
Amounts falling due within one year 7 73,871 93,909
NET CURRENT LIABILITIES (46,977 ) (43,185 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

803,023

806,815

CREDITORS
Amounts falling due after more than one
year

8

-

32,470
NET ASSETS 803,023 774,345

CAPITAL AND RESERVES
Called up share capital 900 900
Revaluation reserve 10 122,910 122,910
Retained earnings 679,213 650,535
SHAREHOLDERS' FUNDS 803,023 774,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

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


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

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 5th August 2024 and were signed on its behalf by:





Mr D J Morgan - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost

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 2 (2023 - 2 ) .

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 1,442
DEPRECIATION
At 1st April 2023
and 31st March 2024 1,442
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 850,000
NET BOOK VALUE
At 31st March 2024 850,000
At 31st March 2023 850,000

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 - 2,781
Prepayments and accrued income 2,327 2,109
2,327 4,890

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,898 41,811
Taxation and social security 8,055 6,863
Other creditors 34,918 45,235
73,871 93,909

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 32,470

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 30,898 74,281

10. RESERVES
Revaluation
reserve
£   
At 1st April 2023
and 31st March 2024 122,910

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
£    £   
Mr D J Morgan
Balance outstanding at start of year (31,531 ) (416 )
Amounts advanced 6,092 -
Amounts repaid - (31,115 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25,439 ) (31,531 )

Mrs D A Morgan
Balance outstanding at start of year (11,504 ) (18,504 )
Amounts advanced 4,350 7,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,154 ) (11,504 )

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.