Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01Proprty rental22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08933174 2023-04-01 2024-03-31 08933174 2022-04-01 2023-03-31 08933174 2024-03-31 08933174 2023-03-31 08933174 c:Director1 2023-04-01 2024-03-31 08933174 d:FreeholdInvestmentProperty 2024-03-31 08933174 d:FreeholdInvestmentProperty 2023-03-31 08933174 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 08933174 d:CurrentFinancialInstruments 2024-03-31 08933174 d:CurrentFinancialInstruments 2023-03-31 08933174 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08933174 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08933174 d:ShareCapital 2024-03-31 08933174 d:ShareCapital 2023-03-31 08933174 d:RetainedEarningsAccumulatedLosses 2024-03-31 08933174 d:RetainedEarningsAccumulatedLosses 2023-03-31 08933174 c:FRS102 2023-04-01 2024-03-31 08933174 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08933174 c:FullAccounts 2023-04-01 2024-03-31 08933174 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08933174 d:OtherDeferredTax 2024-03-31 08933174 d:OtherDeferredTax 2023-03-31 08933174 6 2023-04-01 2024-03-31 08933174 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08933174










AMS PROPERTIES (SHEFFIELD) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
AMS PROPERTIES (SHEFFIELD) LIMITED
REGISTERED NUMBER: 08933174

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
100
100

Investment property
 5 
1,100,000
693,945

  
1,100,100
694,045

Current assets
  

Debtors: amounts falling due within one year
 6 
195,905
6,478

Cash at bank and in hand
  
104,731
61,329

  
300,636
67,807

Creditors: amounts falling due within one year
 7 
(10,830)
(8,056)

Net current assets
  
 
 
289,806
 
 
59,751

Provisions for liabilities
  

Deferred tax
  
(97,620)
-

  
 
 
(97,620)
 
 
-

Net assets
  
1,292,286
753,796


Capital and reserves
  

Called up share capital 
  
400
400

Profit and loss account
  
1,291,886
753,396

  
1,292,286
753,796


Page 1

 
AMS PROPERTIES (SHEFFIELD) LIMITED
REGISTERED NUMBER: 08933174
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2024.



S D Finney
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AMS PROPERTIES (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

AMS Properties (Sheffield) Limited is a private company limited by shares, incorporated in England and Wales (registered number: 08933174). Its registered office is 50 Burton Road, Sheffield, S3 8BX.  The principal activity of the Company throughout the year continued to be that of property rental.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
AMS PROPERTIES (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

 
2.6

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not  reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be  recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
AMS PROPERTIES (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
100



At 31 March 2024
100





5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
693,945


Surplus on revaluation
406,055



At 31 March 2024
1,100,000

The 2024 valuations are based on the value assigned to properties when the properties were purchased. In the view of the directors there has been no material change to the valuation of the properties since that date.




Page 5

 
AMS PROPERTIES (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
194,975
6,478

Prepayments and accrued income
930
-

195,905
6,478



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
8,415
5,685

Accruals and deferred income
2,415
2,371

10,830
8,056



8.


Deferred taxation




2024


£






Charged to profit or loss
(97,620)



At end of year
(97,620)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Capital gains/(losses)
(97,620)
-

(97,620)
-

Page 6

 
AMS PROPERTIES (SHEFFIELD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Prior year adjustment

During the preparation of the accounts, a fundamental error in 2023 year's accounts was identified. This related to the incorrect dividends from investments and dividends declared and paid being used in the prior years accounts. A prior year adjustment has been made in these accounts to reduce the dividend income and dividends declared and paid. There are no tax affects, for or against the Company, on this amendment.

 
Page 7