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Registered number: 12998131
A&S BATCHELOR PROPERTY INVESTMENTS LTD
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12998131
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 302,218 302,417
302,218 302,417
CURRENT ASSETS
Debtors 5 2,106 2,395
Cash at bank and in hand 14,392 9,257
16,498 11,652
Creditors: Amounts Falling Due Within One Year 6 (105,855 ) (104,958 )
NET CURRENT ASSETS (LIABILITIES) (89,357 ) (93,306 )
TOTAL ASSETS LESS CURRENT LIABILITIES 212,861 209,111
Creditors: Amounts Falling Due After More Than One Year 7 (209,430 ) (209,430 )
NET ASSETS/(LIABILITIES) 3,431 (319 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 3,430 (320 )
SHAREHOLDERS' FUNDS 3,431 (319)
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Xun Ma
Director
20 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
A&S BATCHELOR PROPERTY INVESTMENTS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12998131 . The registered office is 2 Kirke Close, Milton Keynes, Buckinghamshire, MK5 6BZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value Added Tax.
2.3. 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:
Fixtures & Fittings 25% on cost
2.4. Investment Properties
All investment properties are properties which are held either to earn rental income or for capital appreciation or for both.
Investment properties are recognised initially at cost.
Subsequent to initial recognition:
1) Invesment properties whose fair value can be measured reliably without undue cost or effort are held at fair value.
Changes in fair value are recognised in the profit and loss account.
2) No depreciation is provided for.
Invesmtent properties fair value is determined by the director based on his understanding of property market conditions and the specific properties concerned. Any gain or loss arising from a change in fair value is recognised in the profit and loss account.
2.5. 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.
Basic financial instruments
Trade debtors and other debtors
Trade debtors and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
Other creditors
Other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
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2.6. 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.
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.
2.7. Acquisitions and disposals of properties
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2022 301,819 797 302,616
As at 30 November 2023 301,819 797 302,616
Depreciation
As at 1 December 2022 - 199 199
Provided during the period - 199 199
As at 30 November 2023 - 398 398
Net Book Value
As at 30 November 2023 301,819 399 302,218
As at 1 December 2022 301,819 598 302,417
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Cost or valuation as at 30 November 2023 represented by:
Investment Properties Fixtures & Fittings Total
£ £ £
At cost 301,819 797 302,616
301,819 797 302,616
The company's investment property is included in the Financial Statements at Director's valuation.
The company's residential property valued using a sales valuation approach, derived from recent comparable transactions in the market, adjusted by applying discounts to reflect status of occupation and condition.
The historical cost of investment property is £301,819.
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,556 1,950
Prepayments and accrued income 550 445
2,106 2,395
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 898 -
Other creditors 103,477 103,477
Accruals and deferred income 1,480 1,481
105,855 104,958
Other creditors include amounts aggregating £103,477 (2022: £103,477) due to the director of the company. The loan is interest free and repayable on demand.
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 209,430 209,430
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Accounting estimates and judgements
Property valuations
The valuation of the company's property portfolio is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
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