Registered number
07635822
ANCHORSTONE PROJECTS LTD
Unaudited Filleted Accounts
31 May 2024
ANCHORSTONE PROJECTS LTD
Registered number: 07635822
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 2,437 4,001
Investments 5 250,000 300,000
252,437 304,001
Current assets
Debtors 6 3,433 4,500
Cash at bank and in hand 21,474 32,860
24,907 37,360
Creditors: amounts falling due within one year 7 (229,242) (300,351)
Net current liabilities (204,335) (262,991)
Total assets less current liabilities 48,102 41,010
Provisions for liabilities (470) -
Net assets 47,632 41,010
Capital and reserves
Called up share capital 35 35
Profit and loss account 47,597 40,975
Shareholders' funds 47,632 41,010
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Henry Dimbleby
Director
Approved by the board on 30 July 2024
ANCHORSTONE PROJECTS LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery 25% on cost
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
1 Accounting policies (Continued)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 20,000
At 31 May 2024 20,000
Amortisation
At 1 June 2023 20,000
At 31 May 2024 20,000
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 12,037
Additions 720
At 31 May 2024 12,757
Depreciation
At 1 June 2023 8,036
Charge for the year 2,284
At 31 May 2024 10,320
Net book value
At 31 May 2024 2,437
At 31 May 2023 4,001
5 Investments
Other
investments
£
Cost
At 1 June 2023 300,000
Disposals (50,000)
At 31 May 2024 250,000
Investments comprise an unquoted, unsecured fixed rate 9% Loan Note instrument issued by Stondon Capital Limited.
6 Debtors 2024 2023
£ £
Other debtors 3,433 4,500
7 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,703 1,057
Other creditors 223,539 299,294
229,242 300,351
Other creditors includes a loan of £229,239 (2023: £297,294) from a director, Henry Dimbleby, that is unsecured, interest free and with no fixed repayment date.
8 Other information
ANCHORSTONE PROJECTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
19 Navarino Road
London
E8 1AD
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