Registered number: 03528626
Amberley Shop Properties Ltd.
Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 March 2024
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Amberley Shop Properties Ltd.
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Amberley Shop Properties Ltd. for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Amberley Shop Properties Ltd for the year ended 31 March 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of directors of Amberley Shop Properties Ltd., as a body, in accordance with the terms of our engagement letter dated 18 March 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Amberley Shop Properties Ltd and state those matters that we have agreed to state to the Board of directors of Amberley Shop Properties Ltd., as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amberley Shop Properties Ltd and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Amberley Shop Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Amberley Shop Properties Ltd. You consider that Amberley Shop Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Amberley Shop Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL
14 October 2024
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Amberley Shop Properties Ltd.
Registered number: 03528626
Balance sheet
As at 31 March 2024
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Debtors: amounts falling due within one year
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Current asset investments
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Listed investment revaluation reserve
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Page 2
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Amberley Shop Properties Ltd.
Registered number: 03528626
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 comprehensive income 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 by:
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D H Vokins
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The notes on pages 4 to 7 form part of these financial statements.
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Amberley Shop Properties Ltd.
Notes to the financial statements
For the year ended 31 March 2024
The company is a private company limited by share capital, incorporated in England and Wales (registered number: 03528626).
The address of its registered office is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
These accounts are prepared on the going concern basis
Turnover comprises the fair value of the consideration received or receivable for rents in the ordinary course of the company's activities.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity; and
- specific criteria have been met for each of the company's activities.
Investments in listed company shares are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period.
Investment property is carried at fair value determined annually by the directors' 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 the statement of comprehensive income.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Amberley Shop Properties Ltd.
Notes to the financial statements
For the year ended 31 March 2024
2.Accounting policies (continued)
Short term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs.
Interest income is recognised in the profit and loss account using the effective interest method.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
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Page 5
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Amberley Shop Properties Ltd.
Notes to the financial statements
For the year ended 31 March 2024
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Freehold investment property
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The 2024 valuation was made by the directors, on an open market value for existing use basis.
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If the Investment property had been accounted for under the historic cost accounting rules, the property would have been measured as follows:
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Historic cost less depreciation
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Prepayments and accrued income
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Current asset investments
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Cash held with Smith & Williamson Investment Management Limited
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Page 6
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Amberley Shop Properties Ltd.
Notes to the financial statements
For the year ended 31 March 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Page 7
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