Aidan Homes Limited 13558632 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is deriving income and gains from property. Digita Accounts Production Advanced 6.30.9574.0 true 13558632 2023-02-01 2024-01-31 13558632 2024-01-31 13558632 core:RetainedEarningsAccumulatedLosses 2024-01-31 13558632 core:ShareCapital 2024-01-31 13558632 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13558632 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 13558632 bus:SmallEntities 2023-02-01 2024-01-31 13558632 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13558632 bus:FullAccounts 2023-02-01 2024-01-31 13558632 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13558632 bus:Director1 2023-02-01 2024-01-31 13558632 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13558632 countries:AllCountries 2023-02-01 2024-01-31 13558632 2023-01-31 13558632 2021-08-10 2023-01-31 13558632 2023-01-31 13558632 core:RetainedEarningsAccumulatedLosses 2023-01-31 13558632 core:ShareCapital 2023-01-31 13558632 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13558632 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13558632

Aidan Homes Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Aidan Homes Limited

(Registration number: 13558632)

Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

298,155

158,023

Current assets

 

Cash at bank and in hand

 

7,401

12,183

Creditors: Amounts falling due within one year

4

(9,278)

(8,572)

Net current (liabilities)/assets

 

(1,877)

3,611

Total assets less current liabilities

 

296,278

161,634

Creditors: Amounts falling due after more than one year

4

(268,130)

(142,513)

Net assets

 

28,148

19,121

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

28,048

19,021

Shareholders' funds

 

28,148

19,121

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 28 October 2024 and signed on its behalf by:
 

.........................................

Prof D M Romano
Director

 

Aidan Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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)

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Investment properties

2024
£

At 1 February 2023

158,023

Additions

140,132

At 31 January 2024

298,155

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.

4

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

2,118

4,602

Accruals and deferred income

1,980

1,080

Other creditors

5,180

2,890

9,278

8,572

2024
£

2023
£

Due after one year

Directors loan accounts

184,358

142,513

Bank loan

83,772

-

268,130

142,513

5

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.