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REGISTERED NUMBER: 02861258 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ANGLESEY PROPERTIES MANAGEMENT CO. LTD.

ANGLESEY PROPERTIES MANAGEMENT CO. LTD. (REGISTERED NUMBER: 02861258)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


ANGLESEY PROPERTIES MANAGEMENT CO. LTD. (REGISTERED NUMBER: 02861258)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,440,000 1,440,000

CURRENT ASSETS
Debtors 5 91,250 1,013
Cash at bank 28,445 85,163
119,695 86,176
CREDITORS
Amounts falling due within one year 6 13,104 23,079
NET CURRENT ASSETS 106,591 63,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,546,591

1,503,097

PROVISIONS FOR LIABILITIES 212,176 202,580
NET ASSETS 1,334,415 1,300,517

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 854,035 863,631
Retained earnings 480,378 436,884
SHAREHOLDERS' FUNDS 1,334,415 1,300,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

ANGLESEY PROPERTIES MANAGEMENT CO. LTD. (REGISTERED NUMBER: 02861258)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





Mr P Hennessey - Director


ANGLESEY PROPERTIES MANAGEMENT CO. LTD. (REGISTERED NUMBER: 02861258)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Anglesey Properties Management Co. Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02861258

Registered office: Sea View
Treborth Road
Bangor
Gwynedd
LL57 2RJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income and management charges, excluding value added tax.

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 Profit & Loss Account, 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.

Lessor
Investment properties are held for use in operating leases. Rental income from the operating leases are included in the profit and loss account on a straight line basis over the term of the lease.

ANGLESEY PROPERTIES MANAGEMENT CO. LTD. (REGISTERED NUMBER: 02861258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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. There is an annual review for impairment by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,440,000
NET BOOK VALUE
At 31 December 2023 1,440,000
At 31 December 2022 1,440,000

The investment properties were revalued on 1 January 2015 (transition date) by the directors and then the directors subsequently revalued the properties to £1,440,000 at 31 December 2023. The original cost of the properties was £373,789.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 965,000
Valuation in 2021 275,000
Valuation in 2022 200,000
1,440,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 91,250 1,013

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 11,799 10,530
Other creditors 1,305 12,549
13,104 23,079

7. SECURED DEBTS

The bank has a charge on the investment properties for any monies it is owed.

ANGLESEY PROPERTIES MANAGEMENT CO. LTD. (REGISTERED NUMBER: 02861258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. RESERVES
Fair
value
reserve
£   
At 1 January 2023 863,631
Revaluation (9,596 )

At 31 December 2023 854,035

9. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr P Hennessey and Mrs L M Hennessey
Balance outstanding at start of year - -
Amounts advanced 90,237 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,237 -