Registration number:
Aidan Homes Limited
for the Year Ended 31 January 2024
Aidan Homes Limited
(Registration number: 13558632)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the
.........................................
Director
Aidan Homes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Accounting policies |
Statutory information
Aidan Homes Limited is a private company, limited by shares, domiciled in England and Wales, company number 13558632. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover comprises rents received and management of real estate on a fee or contract basis.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Aidan Homes Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2024 |
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At 1 February 2023 |
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Additions |
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At 31 January 2024 |
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The investment properties were valued on 31 January 2024 by the directors who are internal to the company. The basis of this valuation was existing use basis. This class of assets has a current value of £298,155 and a carrying amount at historical cost of £298,155. The depreciation on this historical cost is nil.
Creditors |
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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2024 |
2023 |
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Due after one year |
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Directors loan accounts |
184,358 |
142,513 |
Bank loan |
83,772 |
- |
268,130 |
142,513 |
Related party transactions |
During the year the directors had an interest free loan with the company. At the balance sheet date the amount due to the directors was £184,358.