Registered number
12503418
Aftree Limited
Filleted Accounts
31 March 2024
Aftree Limited
Registered number: 12503418
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 155,368 155,368
Current assets
Cash at bank and in hand 6,323 35,659
Creditors: amounts falling due within one year 4 (960) (3,392)
Net current assets 5,363 32,267
Total assets less current liabilities 160,731 187,635
Creditors: amounts falling due after more than one year 5 (160,476) (186,876)
Net assets 255 759
Capital and reserves
Called up share capital 400 400
Profit and loss account (145) 359
Shareholders' funds 255 759
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.
Mr D D Chorley
Director
Approved by the board on 12 September 2024
Aftree Limited
Notes to the Accounts
for the year ended 31 March 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Any tangible assests carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and 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 assest previosly 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 previosly 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.
Investment properties
Investment properties are initially measured at cost which, includes purchase price and any directly attributable expenditure. Properties are revalued to their fair value periodically and any changes in fair value are included in the profit and loss account. Director's has indicated that there was no deviation in the property’s valuation at the year-end date.
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 155,368
At 31 March 2024 155,368
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 155,368
At 31 March 2023 155,368
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 960 960
Taxation and social security costs - 2,432
960 3,392
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 160,476 186,876
6 Other information
Aftree Limited is a private company limited by shares and incorporated in England. Its registered office is:
Barbary Hill
Spooner Vale
Windermere
LA23 1AU
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