Registration number:
All Property Management Ltd
For The Year Ended 31 March 2024
All Property Management Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
All Property Management Ltd
Company Information
Directors |
Mr M. Rothwell Mr D.J. Rothwell Mr T.G. Kernachan |
Registered office |
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Accountants |
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All Property Management Ltd
(Registration number: 10028745)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Other financial assets |
19,500 |
19,500 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current (liabilities)/assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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All Property Management Ltd
(Registration number: 10028745)
Balance Sheet as at 31 March 2024
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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All Property Management Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared using the historical cost convention.
The financial statements are presented in Sterling (£).
Revenue recognition
Turnover comprises the fair value of rental income from leased properties. The income is recognised as it falls due, in accordance with the lease to which it relates.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
All Property Management Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% Reducing balance |
Motor vehicles |
25% Reducing balance |
Investment property
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
All Property Management Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024
Tangible assets |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Investment properties |
2024 |
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At 1 April |
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Additions |
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At 31 March |
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Investment property was last valued on 20 February 2023 by Eddisons Taylors on an open market basis. In the opinion of the directors there has been no material change to investment property value at 31 March 2024.
Other financial assets (current and non-current) |
2024 |
2023 |
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Non-current financial assets |
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Financial assets at cost less impairment |
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All Property Management Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024
Debtors |
Debtors: amounts falling due within one year |
2024 |
2023 |
Trade debtors |
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Prepayments |
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Other debtors |
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The company is related to 168 Briggate Ltd, APN Hotel Group Limited and Thirty-Six Leeds Limited by virtue of the common shareholding of Mr M. Rothwell and Mr T.G. Kernachan.
Other debtors include a loan to 168 Briggate Ltd of £158,019 (2023 £181,188). The loan is interest free and repayable on demand by the company.
Other debtors include a loan to APN Hotel Group Limited of £114,227 (2023 £13,459). The loan is interest free and repayable on demand by the company.
Other debtors include a loan to Thirty-Six Leeds Limited of £25,000 (2023 £265,781). The loan is interest free and repayable on demand by the company.
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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The company is related to APN Holdings Ltd by virtue of the common shareholding of Mr M. Rothwell and Mr T.G. Kernachan.
Other creditors include a loan from APN Holdings Ltd in the amount of £430,508 (2023 £501,676). The loan is unsecured and repayable on demand by the company.
All Property Management Ltd
Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Loans and borrowings |
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Creditors include bank loans which are secured of £7,998,850 (2023 £8,028,850). Bank loans are secured by a fixed and floating charge over the assets of the company, together with personal guarantees given by Mr M. Rothwell and Mr T.G. Kernachan, directors of the company for £500,000.
Reserves |
Profit and loss reserve represents all current and prior period retained profits and losses. £4,079,988 of the Profit and loss reserve at 31 March 2024 (2023 - £3,991,538) is non-distributable. The non-distributable element of the Profit and loss reserve relates to investment property revaluation gains, net of related deferred taxation.
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