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REGISTERED NUMBER: 09921284 (England and Wales)















ACL Property Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






ACL Property Limited (Registered number: 09921284)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


ACL Property Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A C Luce
Mrs C L Luce



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 09921284 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Barclays Bank plc
16 High Street
Bridgwater
Somerset
TA6 3DX

ACL Property Limited (Registered number: 09921284)

Abridged Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 172 216
Investment property 6 168,000 168,000
168,172 168,216

CURRENT ASSETS
Debtors - 10
Cash at bank 284 705
284 715
CREDITORS
Amounts falling due within one year 56,497 55,467
NET CURRENT LIABILITIES (56,213 ) (54,752 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,959

113,464

CREDITORS
Amounts falling due after more than one year 7 (105,826 ) (102,744 )

PROVISIONS FOR LIABILITIES (11,874 ) (11,874 )
NET LIABILITIES (5,741 ) (1,154 )

CAPITAL AND RESERVES
Called up share capital 100 100
Investment property
revaluation reserve 9 50,622 50,622
Retained earnings (56,463 ) (51,876 )
SHAREHOLDERS' FUNDS (5,741 ) (1,154 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ACL Property Limited (Registered number: 09921284)

Abridged Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





A C Luce - Director


ACL Property Limited (Registered number: 09921284)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ACL Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis which assumes the continued support of the company's directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

ACL Property Limited (Registered number: 09921284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 1,030
DEPRECIATION
At 1 January 2023 814
Charge for year 44
At 31 December 2023 858
NET BOOK VALUE
At 31 December 2023 172
At 31 December 2022 216

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 168,000
NET BOOK VALUE
At 31 December 2023 168,000
At 31 December 2022 168,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 29,496
Valuation in 2022 33,000
Cost 105,504
168,000

If had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 105,504 105,504

Investment property was valued on an open market basis on 31 December 2022 by the company's directors .

ACL Property Limited (Registered number: 09921284)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.12.23 31.12.22
£    £   
Repayable by instalments
Bank loans 105,826 102,744

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 105,826 102,744

The bank loan was secured by a floating charge over the assets of the company and personal guarantees signed by the directors.

9. RESERVES
Investment
property
revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 50,622