Company registration number 01533163 (England and Wales)
ANSACODE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ANSACODE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ANSACODE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,932,000
1,835,000
Current assets
Debtors
4
18,662
24,216
Cash at bank and in hand
175,967
70,030
194,629
94,246
Creditors: amounts falling due within one year
5
(102,223)
(121,808)
Net current assets/(liabilities)
92,406
(27,562)
Net assets
2,024,406
1,807,438
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
7
2,024,306
1,807,338
Total equity
2,024,406
1,807,438

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mrs A J Dodd
Director
Company Registration No. 01533163
ANSACODE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Ansacode Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Barn, Lake Court, Hursley, Winchester, Hampshire, United Kingdom, SO21 2LD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold investment properties. The principal accounting policies adopted are set out below.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. This is a departure from the general requirement of the Companies Act 2006 for all tangible fixed assets to be depreciated. In the opinion of the directors compliance with the Act in this respect would result in the financial statements not showing a true and fair view.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. The directors are of the opinion that all assets and liabilities are basic.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

ANSACODE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
3
Investment property
2023
£
Fair value
At 1 January 2023
1,835,000
Revaluations
97,000
At 31 December 2023
1,932,000

Investment property represents units on an industrial estate. The investment properties were valued at 31 December 2023 at an estimated open market value by the directors.

The original costs of the investment properties was £881,336 (2022: £881,336)

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
18,662
7,991
Other debtors
-
0
16,225
18,662
24,216
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,420
-
0
Amounts owed to group undertakings
5,369
51,626
Corporation tax
36,895
26,644
Other creditors
53,539
43,538
102,223
121,808
ANSACODE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
100
100
7
Profit and loss reserves
2023
2022
£
£
At the beginning of the year
1,807,338
2,098,750
Profit/(loss) for the year
216,968
(141,412)
Dividends declared and paid in the year
-
(150,000)
At the end of the year
2,024,306
1,807,338

FRS 102 requires the consolidation of all reserves. Within retained reserves are non-distributable reserves of £1,050,664 from its revalued investment properties (2022 £953,664). As at 31 December 2023 distributable reserves totalled £973,642 (2022 £853,674).

 

8
Financial commitments, guarantees and contingent liabilities

The company is party to a group bank borrowing facility, secured by a charge over certain assets of the parent company.

 

At the balance sheet date, the company had a contingent liability in respect of the bank borrowing of the ultimate parent company amounting to £Nil (2022: £Nil) and an interest free intercompany loan of £5,369 (2022: £51,626).

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