REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 November 2023 |
for |
Assured Concrete Repairs Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 November 2023 |
for |
Assured Concrete Repairs Ltd |
Assured Concrete Repairs Ltd (Registered number: 08782253) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Assured Concrete Repairs Ltd |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Suites 5 & 6 The Printworks |
Hey Road |
Barrow |
Clitheroe |
Lancashire |
BB7 9WB |
Assured Concrete Repairs Ltd (Registered number: 08782253) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value 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. |
Assured Concrete Repairs Ltd (Registered number: 08782253) |
Balance Sheet - continued |
30 November 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Assured Concrete Repairs Ltd (Registered number: 08782253) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Assured Concrete Repairs Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the basis that the company is a going concern, due to the fact that the net liabilities only arise due to an intercompany loan between the company and its parent entity. The parent company continues to support its subsidiary undertaking. |
Turnover |
Turnover represents rents received. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Assured Concrete Repairs Ltd (Registered number: 08782253) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Fair value at 30 November 2023 is represented by: |
£ |
Valuation in 2022 | 84,890 |
Cost | 545,110 |
630,000 |
The investment properties were valued by a third party and revalued in the accounts in accordance with this valuation. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans due between one and two years |
Bank loans due between two and five years |
Bank loans due more than five years |
Assured Concrete Repairs Ltd (Registered number: 08782253) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
30.11.23 | 30.11.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans due more than five years | 174,917 | 182,087 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
The bank loans have a fixed charge secured against the properties to which they relate and are repayable over the term of the mortgages. The Directors have also provided a personal guarantee for these debts. The security details and mortgage expiry are as follows: |
Property |
Security Charge (£) |
Mortgage Expires |
83 Church Road, Swanscome, Kent, DA10 0HQ | 148,716 | 15/11/2037 |
158 Charles Street, Greenhithe, Kent, DA9 9AJ | 143,611 | 07/11/2037 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 December 2022 |
and 30 November 2023 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
A personal guarantee has been provided by the Directors, Mr J L Rospo and Mr M I Norris, in relation to the mortgages secured against the properties. |
12. | ULTIMATE CONTROLLING PARTY |
Pierra Group Ltd is regarded by the directors as being the company's ultimate parent company. |