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COMPANY REGISTRATION NUMBER: 13806107
Abbey Rentals Management Company Limited
Filleted Unaudited Financial Statements
31 December 2023
Abbey Rentals Management Company Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
9,275
816
Current assets
Debtors
5
208,722
126,735
Cash at bank and in hand
7,443
468
---------
---------
216,165
127,203
Creditors: amounts falling due within one year
6
172,206
109,573
---------
---------
Net current assets
43,959
17,630
--------
--------
Total assets less current liabilities
53,234
18,446
Creditors: amounts falling due after more than one year
7
43,488
394
--------
--------
Net assets
9,746
18,052
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
9,646
17,952
-------
--------
Shareholders funds
9,746
18,052
-------
--------
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.
For the year ending 31 December 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Abbey Rentals Management Company Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr T Maunder
Director
Company registration number: 13806107
Abbey Rentals Management Company Limited
Notes to the Financial Statements
Year ended 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 45 Vale street, Denbigh, Denbighshire, LL16 3AH.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
20% straight line
Equipment
-
25% straight line
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.
4. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
1,020
1,020
Additions
680
233
10,622
11,535
----
-------
--------
--------
At 31 December 2023
680
1,253
10,622
12,555
----
-------
--------
--------
Depreciation
At 1 January 2023
204
204
Charge for the year
170
251
2,655
3,076
----
-------
--------
--------
At 31 December 2023
170
455
2,655
3,280
----
-------
--------
--------
Carrying amount
At 31 December 2023
510
798
7,967
9,275
----
-------
--------
--------
At 31 December 2022
816
816
----
-------
--------
--------
5. Debtors
2023
2022
£
£
Trade debtors
10,274
16,216
Other debtors
198,448
110,519
---------
---------
208,722
126,735
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
27,766
23,602
Social security and other taxes
13,012
22,129
Other creditors
125,122
58,238
Other creditors
6,306
5,604
---------
---------
172,206
109,573
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
43,488
394
--------
----
8. Related party transactions
Included in debtors is an amount of £198,448 due from the holding company.
9. Controlling party
The ultimate parent company is Abbey Rentals Limited , company number 03835392