REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
AYALA ENTERPRISE LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
AYALA ENTERPRISE LTD |
AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899) |
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 |
AYALA ENTERPRISE LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
24 St Cuthberts Way |
Darlington |
DL1 1GB |
AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899) |
BALANCE SHEET |
30 NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment properties | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( | ) | ( | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( | ) | ( | ) |
PROVISIONS FOR LIABILITIES | 10 | ( | ) | ( | ) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Ayala Enterprise Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rent receivable from the investment properties net of VAT. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Equipment - 20% on cost |
Freehold land - 0% |
Investment properties |
The investment properties are shown at their fair value at the balance sheet date. Any surplus or deficit arising from the changes in fair value is recognised in the income statement. |
Stocks |
Stock is valued at cost. |
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 and directors during the year was |
AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Freehold |
land | Equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2022 |
and 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | INVESTMENT PROPERTIES |
£ |
FAIR VALUE |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
The director does not believe that there has been an increase or decrease in the value of the investment properties in the year. The properties have not been valued by an independent valuer. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Trade creditors |
Corporation tax |
VAT | 7,117 | 8,255 |
Director's current account | 2,360,099 | 2,403,597 |
Accrued expenses |
Amounts owed to related |
parties |
Other creditors | 8,250 | 8,250 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans falling due in two to five years repayable by instalments |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loan | 347,913 | 378,652 |
A bank loan is secured by way of a fixed charge on two investment properties and a fixed and floating charge over all of the property or undertaking of the company. |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 80,500 | 61,300 |
Deferred |
tax |
£ |
Balance at 1 December 2022 |
Movement | 19,200 |
Balance at 30 November 2023 |
The deferred tax provision relates to the revaluation of an investment property to its estimated fair value of £80,000 (2022 - £60,800) and accelerated capital allowances of £500 (2022 - £500). |
AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 1 | 1 |
12. | RELATED PARTY DISCLOSURES |
At the balance sheet date £245,000 (2022 - £245,000) was due to the director's wife and £201,000 (2022 - £205,500) was due to Hannah Ayala Designs Ltd, a company in which the director's wife is the sole director and shareholder. During the year rent was charged to the director of £14,000 (2022 - £24,000) with £45,000 (2022 - £45,000) charged to Hannah Ayala Designs Ltd. Loans are interest free and repayable on demand. |
13. | CONTROLLING PARTY |
The controlling party is D Sanchez Ayala. |