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Registration number: 10477015

ABCO Anderson Beverage Co Property Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2023

 

ABCO Anderson Beverage Co Property Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

ABCO Anderson Beverage Co Property Limited

Company Information

Directors

Mr Nigel Thomas Anderson

Mr Stewart Miller Anderson

Registered office

c/o McManus Hall Ltd
C11 Marquis Court
Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0RU

Accountants

McManus Hall Ltd
C11 Marquis Court
Team Valley
Gateshead
Tyne and Wear
NE11 0RU

 

ABCO Anderson Beverage Co Property Limited

(Registration number: 10477015)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

353,965

353,965

Current assets

 

Cash at bank and in hand

 

44,254

19,154

Creditors: Amounts falling due within one year

(301,173)

(295,657)

Net current liabilities

 

(256,919)

(276,503)

Total assets less current liabilities

 

97,046

77,462

Accruals and deferred income

 

(2,378)

(2,378)

Net assets

 

94,668

75,084

Capital and reserves

 

Called up share capital

100

100

Retained earnings

94,568

74,984

Shareholders' funds

 

94,668

75,084

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.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2024 and signed on its behalf by:
 

.........................................

Mr Nigel Thomas Anderson

Director

 

ABCO Anderson Beverage Co Property Limited

Notes to the Unaudited Abridged 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:
c/o McManus Hall Ltd
C11 Marquis Court
Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0RU

These financial statements were authorised for issue by the Board on 16 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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

ABCO Anderson Beverage Co Property Limited

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

ABCO Anderson Beverage Co Property Limited

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

4

Tangible assets

Investment properties

2023
£

At 1 December 2022

353,965

At 30 November 2023

353,965

There has been no valuation of investment property by an independent valuer.

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Related party transactions

Summary of transactions with entities with joint control or significant interest

ABCO Anderson Beverage Co Limited
 

Summary of transactions with subsidiaries

During the year Abco-Anderson Beverage Co. Ltd became a subsidiary of the company.
 At 30th November 2023 the company owed the subsidiary, £296,525 (2022: £287,897).
During the year the company received £25,200 (2022 £25,200) in rental income from the subsidiary.

 The loan is interest free with no fixed repayment date.