0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11948506 2023-02-01 2024-01-31 11948506 2024-01-31 11948506 2023-01-31 11948506 2022-02-01 2023-01-31 11948506 2023-01-31 11948506 2022-01-31 11948506 core:FurnitureFittings 2023-02-01 2024-01-31 11948506 bus:Director1 2023-02-01 2024-01-31 11948506 core:FurnitureFittings 2023-01-31 11948506 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 11948506 core:FurnitureFittings 2024-01-31 11948506 core:AfterOneYear 2024-01-31 11948506 core:AfterOneYear 2023-01-31 11948506 core:WithinOneYear 2024-01-31 11948506 core:WithinOneYear 2023-01-31 11948506 core:ShareCapital 2024-01-31 11948506 core:ShareCapital 2023-01-31 11948506 core:RetainedEarningsAccumulatedLosses 2024-01-31 11948506 core:RetainedEarningsAccumulatedLosses 2023-01-31 11948506 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 11948506 core:FurnitureFittings 2023-01-31 11948506 bus:Director1 2023-01-31 11948506 bus:Director1 2024-01-31 11948506 bus:Director1 2022-01-31 11948506 bus:Director1 2023-01-31 11948506 bus:Director1 2022-02-01 2023-01-31 11948506 bus:SmallEntities 2023-02-01 2024-01-31 11948506 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11948506 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11948506 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11948506 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 11948506
ANCHORAGE RESIDENTIAL PROPERTIES LIMITED
Filleted Unaudited Financial Statements
31 January 2024
ANCHORAGE RESIDENTIAL PROPERTIES LIMITED
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
387,860
388,245
Current assets
Debtors
5
1,538
Investments
6
100,000
100,000
Cash at bank and in hand
4,121
10,871
---------
---------
104,121
112,409
Creditors: amounts falling due within one year
7
256,406
256,407
---------
---------
Net current liabilities
152,285
143,998
---------
---------
Total assets less current liabilities
235,575
244,247
Creditors: amounts falling due after more than one year
8
239,749
239,749
---------
---------
Net (liabilities)/assets
( 4,174)
4,498
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 4,274)
4,398
-------
-------
Shareholders (deficit)/funds
( 4,174)
4,498
-------
-------
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 income and retained earnings has not been delivered.
For the year ending 31 January 2024 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 year 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 .
ANCHORAGE RESIDENTIAL PROPERTIES LIMITED
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
Mr A Greaves
Director
Company registration number: 11948506
ANCHORAGE RESIDENTIAL PROPERTIES LIMITED
Notes to the Financial Statements
Year ended 31 January 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 The Anchorage, Water Street, East Harptree, Bristol, BS40 6AD.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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:
Fixtures and fittings
-
20% reducing balance
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. Tangible assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
384,399
4,748
389,147
---------
-------
---------
Depreciation
At 1 February 2023
902
902
Charge for the year
385
385
---------
-------
---------
At 31 January 2024
1,287
1,287
---------
-------
---------
Carrying amount
At 31 January 2024
384,399
3,461
387,860
---------
-------
---------
At 31 January 2023
384,399
3,846
388,245
---------
-------
---------
5. Debtors
2024
2023
£
£
Trade debtors
1,538
----
-------
6. Investments
2024
2023
£
£
Other investments - Other loans
100,000
100,000
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
256,406
256,407
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
239,749
239,749
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Greaves
( 71,200)
( 71,200)
--------
----
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Greaves
( 72,160)
960
( 71,200)
--------
----
--------
10. Related party transactions
By virtue of common director and shareholder, Anchorage Projects Ltd is a related party. At the year end, a balance of £185,207 is owed to Anchorage Projects Ltd. This balance is shown in other creditors.