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Company registration number: 07595625
AFPR LIMITED
30 April 2024
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
AFPR LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
AFPR LIMITED
DIRECTORS AND OTHER INFORMATION
Director Mrs A C May
Company number 07595625
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address Red House Croft
Off Burnley Road
Clayton Le Moors
Lancashire
BB5 5UD
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
AFPR LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AFPR LIMITED
YEAR ENDED 30 APRIL 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AFPR Limited for the year ended 30 April 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of AFPR Limited, as a body, in accordance with the terms of our engagement letter dated 17 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of AFPR Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AFPR Limited and its director as a body for our work or for this report.
It is your duty to ensure that AFPR Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AFPR Limited. You consider that AFPR Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of AFPR Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
23 August 2024
AFPR LIMITED
STATEMENT OF FINANCIAL POSITION
30 APRIL 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 104 1
_______ _______
104 1
Current assets
Debtors 7 6,487 11,759
Cash at bank and in hand 9,324 8,368
_______ _______
15,811 20,127
Creditors: amounts falling due
within one year 8 ( 12,461) ( 14,473)
_______ _______
Net current assets 3,350 5,654
_______ _______
Total assets less current liabilities 3,454 5,655
Provisions for liabilities 20 -
_______ _______
Net assets 3,474 5,655
_______ _______
Capital and reserves
Called up share capital 50 50
Profit and loss account 3,424 5,605
_______ _______
Shareholders funds 3,474 5,655
_______ _______
For the year ending 30 April 2024 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
Mrs A C May
Director
Company registration number: 07595625
AFPR LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 30 APRIL 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2022 50 3,157 3,207
Profit for the year 14,298 14,298
_______ _______ _______
Total comprehensive income for the year - 14,298 14,298
Dividends paid and payable ( 11,850) ( 11,850)
_______ _______ _______
Total investments by and distributions to owners - ( 11,850) ( 11,850)
_______ _______ _______
At 30 April 2023 and 1 May 2023 50 5,605 5,655
Profit for the year 13,029 13,029
_______ _______ _______
Total comprehensive income for the year - 13,029 13,029
Dividends paid and payable ( 15,210) ( 15,210)
_______ _______ _______
Total investments by and distributions to owners - ( 15,210) ( 15,210)
_______ _______ _______
At 30 April 2024 50 3,424 3,474
_______ _______ _______
AFPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 May 2023 and 30 April 2024 20,000 20,000
_______ _______
Amortisation
At 1 May 2023 and 30 April 2024 20,000 20,000
_______ _______
Carrying amount
At 30 April 2024 - -
_______ _______
At 30 April 2023 - -
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2023 2,360 2,360
Additions 150 150
_______ _______
At 30 April 2024 2,510 2,510
_______ _______
Depreciation
At 1 May 2023 2,360 2,360
Charge for the year 46 46
_______ _______
At 30 April 2024 2,406 2,406
_______ _______
Carrying amount
At 30 April 2024 104 104
_______ _______
At 30 April 2023 - -
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 6,032 11,338
Other debtors 455 421
_______ _______
6,487 11,759
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 719 642
Trade creditors 2,747 3,894
Corporation tax 3,078 3,382
Social security and other taxes 3,176 3,423
Other creditors 2,741 3,132
_______ _______
12,461 14,473
_______ _______