2023-02-012024-01-312024-01-31false09401796AYLING PROPERTIES 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AYLING PROPERTIES LTD

Registered Number
09401796
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

AYLING PROPERTIES LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

AYLING, Ruth Valerie
AYLING, Stuart John Noel

Registered Address

1 Billing Road
Northampton
NN1 5AL

Registered Number

09401796 (England and Wales)
AYLING PROPERTIES LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property3220,000220,000
220,000220,000
Current assets
Cash at bank and on hand2,9852,768
2,9852,768
Creditors amounts falling due within one year4(122,807)(122,226)
Net current assets (liabilities)(119,822)(119,458)
Total assets less current liabilities100,178100,542
Provisions for liabilities5(21,635)(16,419)
Net assets78,54384,123
Capital and reserves
Called up share capital125125
Share premium14,04914,049
Revaluation reserve70,47070,470
Profit and loss account(6,101)(521)
Shareholders' funds78,54384,123
The financial statements were approved and authorised for issue by the Board of Directors on 30 October 2024, and are signed on its behalf by:
AYLING, Ruth Valerie
Director
AYLING, Stuart John Noel
Director

Registered Company No. 09401796
AYLING PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year22
3.Investment property

£
Fair value at 01 February 23220,000
At 31 January 24220,000
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts121,949121,517
Accrued liabilities and deferred income858709
Total122,807122,226
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)21,63516,419
Total21,63516,419