Registered number
11767752
Amaura Properties Ltd
Filleted Accounts
31 January 2024
Amaura Properties Ltd
Registered number: 11767752
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investment properties 3 339,570 339,570
Current assets
Cash at bank and in hand 437 114
Creditors: amounts falling due within one year 4 (136,236) (134,747)
Net current liabilities (135,799) (134,633)
Total assets less current liabilities 203,771 204,937
Creditors: amounts falling due after more than one year 5 (170,550) (183,918)
Net assets 33,221 21,019
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,121 20,919
Shareholder's funds 33,221 21,019
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Costello
Director
Approved by the board on 22 October 2024
Amaura Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments Properties
Investment properties are those properties that are held either to earn rental income or for capital appreciation or both.
Investment properties are measured initially at cost including transaction costs and thereafter stated at fair value, which reflects market conditions at the balance sheet date. Surpluses and deficits arising from changes in the fair value of investment properties are recognised in the profit and loss account in the year in which they arise.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Investment properties
Other
investments
£
Cost
At 1 February 2023 339,570
At 31 January 2024 339,570
Investment properties are stated at fair value as determined by the Directors. The fair value of the investment properties is not based upon external valuations and is inherently subjective. The fair value represents the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms length transaction at the date of valuation. In determining the fair value of investment properties, the diretors make use of historical and current market data as well as existing lease agreements.

As a result of the level of judgement used in arriving at the market valuations, the amounts which may ultimately be realised in respect of any given property may differ from the valuations shown in the balance sheet.

The key assumptions made in the valuation of investment properties are:

- the amount and timing of future income streams,
- anticipated maintenance costs and other landlord's liabilities, and
- an appropriate yeild

4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,858 2,503
Other creditors 133,378 132,244
136,236 134,747
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 170,550 183,918
6 Other information
Amaura Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9 Gemini Park
Sheepscar Way
Leeds
West Yorkshire
LS7 3JB
Amaura Properties Ltd 11767752 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 L Costello No description of principal activity 11767752 2022-02-01 2023-01-31 11767752 core:WithinOneYear 2023-01-31 11767752 core:AfterOneYear 2023-01-31 11767752 core:ShareCapital 2023-01-31 11767752 core:RetainedEarningsAccumulatedLosses 2023-01-31 11767752 2023-02-01 2024-01-31 11767752 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11767752 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11767752 bus:Director40 2023-02-01 2024-01-31 11767752 1 2023-02-01 2024-01-31 11767752 2 2023-02-01 2024-01-31 11767752 countries:England 2023-02-01 2024-01-31 11767752 bus:FRS102 2023-02-01 2024-01-31 11767752 bus:FilletedAccounts 2023-02-01 2024-01-31 11767752 2024-01-31 11767752 core:WithinOneYear 2024-01-31 11767752 core:AfterOneYear 2024-01-31 11767752 core:ShareCapital 2024-01-31 11767752 core:RetainedEarningsAccumulatedLosses 2024-01-31 11767752 2023-01-31 iso4217:GBP xbrli:pure