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COMPANY REGISTRATION NUMBER: 14529695
ACIERTA PROPERTY LTD
Unaudited Financial Statements
31 December 2023
ACIERTA PROPERTY LTD
Financial Statements
Period from 8 December 2022 to 31 December 2023
Contents
Page
Directors' report
1
Income statement
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
ACIERTA PROPERTY LTD
Directors' Report
Period from 8 December 2022 to 31 December 2023
The directors present their report and the unaudited financial statements of the company for the period ended 31 December 2023 .
Principal activities
The principal activity of the company during the year was letting and operating of own or leased real estate.
Directors
The directors who served the company during the period were as follows:
Mr. Bruno Enrique Arnau Vazquez
(Appointed 8 December 2022)
Mrs. Carla Arranz Sobrini
(Appointed 8 December 2022)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 7 March 2024 and signed on behalf of the board by:
Mr. Bruno Enrique Arnau Vazquez
Mrs. Carla Arranz Sobrini
Director
Director
ACIERTA PROPERTY LTD
Income Statement
Period from 8 December 2022 to 31 December 2023
Period from
8 Dec 22 to
31 Dec 23
Note
£
Administrative expenses
( 11,238)
Other operating income
15,810
--------
Operating profit
4,572
Interest payable and similar expenses
4
( 25,146)
--------
Loss before taxation
( 20,574)
Tax on loss
--------
Loss for the financial period
( 20,574)
--------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the period as set out above.
ACIERTA PROPERTY LTD
Statement of Financial Position
31 December 2023
31 Dec 23
Note
£
Fixed assets
Tangible assets
5
709,950
Current assets
Debtors
6
22,486
Cash at bank and in hand
137,845
---------
160,331
Creditors: amounts falling due within one year
7
5,609
---------
Net current assets
154,722
---------
Total assets less current liabilities
864,672
Creditors: amounts falling due after more than one year
8
885,146
---------
Net liabilities
( 20,474)
---------
Capital and reserves
Called up share capital
100
Profit and loss account
( 20,574)
--------
Shareholders deficit
( 20,474)
--------
These financial statements have been prepared 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'.
For the period ending 31 December 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 March 2024 , and are signed on behalf of the board by:
Mr. Bruno Enrique Arnau Vazquez
Mrs. Carla Arranz Sobrini
Director
Director
Company registration number: 14529695
ACIERTA PROPERTY LTD
Statement of Changes in Equity
Period from 8 December 2022 to 31 December 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 8 December 2022
Loss for the period
( 20,574)
( 20,574)
----
--------
--------
Total comprehensive income for the period
( 20,574)
( 20,574)
Issue of shares
100
100
----
----
----
Total investments by and distributions to owners
100
100
----
--------
--------
At 31 December 2023
100
( 20,574)
( 20,474)
----
--------
--------
ACIERTA PROPERTY LTD
Notes to the Financial Statements
Period from 8 December 2022 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St. Georges House, 6th floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Interest payable and similar expenses
Period from
8 Dec 22 to
31 Dec 23
£
Interest on loan payable
25,146
--------
5. Tangible assets
Freehold property
£
Cost
At 8 December 2022
Additions
709,950
---------
At 31 December 2023
709,950
---------
Depreciation
At 8 December 2022 and 31 December 2023
---------
Carrying amount
At 31 December 2023
709,950
---------
6. Debtors
31 Dec 23
£
Trade debtors
18,982
Other debtors
3,504
--------
22,486
--------
7. Creditors: amounts falling due within one year
31 Dec 23
£
Trade creditors
1,153
Accruals and deferred income
1,500
Social security and other taxes
2,956
-------
5,609
-------
8. Creditors: amounts falling due after more than one year
31 Dec 23
£
Loan payable
885,146
---------