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Registration number: 12319449

Ailbe Homes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Ailbe Homes Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Ailbe Homes Ltd

Company Information

Director

Mr Michael Stephen Coughlan

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Ailbe Homes Ltd

(Registration number: 12319449)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,130

2,963

Current assets

 

Debtors

6

29,252

23,114

Cash at bank and in hand

 

9,095

8,746

 

38,347

31,860

Creditors: Amounts falling due within one year

7

(20,412)

(19,150)

Net current assets

 

17,935

12,710

Total assets less current liabilities

 

19,065

15,673

Creditors: Amounts falling due after more than one year

7

(9,716)

(13,404)

Net assets

 

9,349

2,269

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

8,349

1,269

Shareholders' funds

 

9,349

2,269

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

Approved and authorised by the director on 2 August 2024
 

.........................................
Mr Michael Stephen Coughlan
Director

 

Ailbe Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 2 August 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current 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 in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Ailbe Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Fixtures & Fittings

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Ailbe Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,992

2,043

 

Ailbe Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

8,175

8,175

Additions

528

528

Disposals

(737)

(737)

At 30 November 2023

7,966

7,966

Depreciation

At 1 December 2022

5,212

5,212

Charge for the year

1,992

1,992

Eliminated on disposal

(368)

(368)

At 30 November 2023

6,836

6,836

Carrying amount

At 30 November 2023

1,130

1,130

At 30 November 2022

2,963

2,963

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

405

-

Amounts owed by related parties

28,629

22,900

Prepayments

 

218

214

   

29,252

23,114

7

Creditors

Creditors: amounts falling due within one year

 

Ailbe Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Creditors (continued)

2023
£

2022
£

Due within one year

Taxation and social security

2,326

-

Accruals and deferred income

1,380

1,080

Other creditors

16,706

18,070

20,412

19,150

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

9,716

13,404

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

9,716

13,404