Amylan Properties Limited 11188088 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is letting of properties. Digita Accounts Production Advanced 6.30.9574.0 true 11188088 2023-03-01 2024-02-29 11188088 2024-02-29 11188088 core:RetainedEarningsAccumulatedLosses 2024-02-29 11188088 core:ShareCapital 2024-02-29 11188088 core:CurrentFinancialInstruments 2024-02-29 11188088 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 11188088 core:Non-currentFinancialInstruments 2024-02-29 11188088 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 11188088 bus:SmallEntities 2023-03-01 2024-02-29 11188088 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11188088 bus:FilletedAccounts 2023-03-01 2024-02-29 11188088 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11188088 bus:RegisteredOffice 2023-03-01 2024-02-29 11188088 bus:Director1 2023-03-01 2024-02-29 11188088 bus:Director2 2023-03-01 2024-02-29 11188088 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11188088 countries:EnglandWales 2023-03-01 2024-02-29 11188088 2023-02-28 11188088 2022-03-01 2023-02-28 11188088 2023-02-28 11188088 core:RetainedEarningsAccumulatedLosses 2023-02-28 11188088 core:ShareCapital 2023-02-28 11188088 core:CurrentFinancialInstruments 2023-02-28 11188088 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11188088 core:Non-currentFinancialInstruments 2023-02-28 11188088 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 11188088 core:PreviouslyStatedAmount 2023-02-28 11188088 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 11188088

Amylan Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Amylan Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Amylan Properties Limited

Company Information

Directors

Mr B Patel

Mrs M Patel

Registered office

10 The Woodfines
Hornchurch
Essex
RM11 3HR

Accountants

Affinity Associates (Flemmings) Limited
(Trading as Flemmings)
Chartered Accountants
76 Canterbury Road
Surrey
Croydon
CR0 3HA

 

Amylan Properties Limited

(Registration number: 11188088)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

366,295

366,295

Current assets

 

Debtors

5

2,141

1,726

Cash at bank and in hand

 

1,736

1,342

 

3,877

3,068

Creditors: Amounts falling due within one year

6

(152,347)

(142,061)

Net current liabilities

 

(148,470)

(138,993)

Total assets less current liabilities

 

217,825

227,302

Creditors: Amounts falling due after more than one year

6

(216,314)

(221,904)

Net assets

 

1,511

5,398

Capital and reserves

 

Called up share capital

2

2

Profit and Loss Account

1,509

5,396

Shareholders' funds

 

1,511

5,398

For the financial year ending 29 February 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

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

Mr B Patel
Director

 

Amylan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 The Woodfines
Hornchurch
Essex
RM11 3HR
United Kingdom

2

Accounting policies

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

The 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 financial statements are presented in Pound Sterling, which is the functional currency of the company.

Revenue recognition

Turnover shown in the profit and loss account represents amounts invoiced during the year.

The company recognises revenue when:
i. The amount of revenue can be reliably measured;
ii. it is probable that future economic benefits will flow to the entity;
iii. and specific criteria have been met for each of the company's activities.

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 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Amylan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

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.

3

Staff numbers

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

4

Investment properties

2024
£

2023
£

At 1 March

366,295

366,295

The investment property was acquired in June 2018. The directors are of the opinion that the cost of the property including the improvement costs incurred represents the fair value of the property as at 29 February 2024.

There has been no valuation of investment property by an independent valuer.

The historic cost of the investment is £366,295. The depreciation on this historical cost is £Nil.

5

Debtors

Current

2024
£

2023
£

Prepayments

241

226

Other debtors

1,900

1,500

 

2,141

1,726

 

Amylan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

6,379

7,168

Taxation and social security

 

-

173

Accruals and deferred income

 

1,070

1,035

Other creditors

 

1,700

1,300

Director current account

8

143,198

132,385

 

152,347

142,061

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

216,314

221,904

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

216,314

221,904

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,379

7,168

Bank borrowings

The bank borrowings is secured by way of:

a) Legal charge over the company's freehold investment property.

 

Amylan Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

Other transactions with directors

Mr B Patel and Mrs M Patel
(Directors and Shareholders)

At the balance sheet date the amount due to Mr B Patel and Mrs M Patel was £143,198 (2023: £132,385). This amount is interest free and repayable on demand.