Registration number:
A.F.T. Holdings Limited
for the Year Ended 31 March 2024
A.F.T. Holdings Limited
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
A.F.T. Holdings Limited
(Registration number: 05932388)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
354,021 |
330,676 |
|
Shareholders' funds |
354,121 |
330,776 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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
A.F.T. Holdings Limited
(Registration number: 05932388)
Balance Sheet as at 31 March 2024
......................................... |
A.F.T. Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
18 Maidenshaw Road
Epsom
Surrey
KT19 8HE
These financial statements were authorised for issue by the
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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date the company had net current liabilities of £1,228,139 (2023: £1,224,604The directors have pledged to continue to financially support the company for the foreseeable future. On this basis the directors feel it is appropriate to prepare these financial statements using the going concern basis.
A.F.T. Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises of the consideration received or receivable on rental income from investment properties and canal boats, stated net of discounts and of Value Added Tax.
Rent is received on a monthly and quarterly basis and is apportioned for the period in which it relates. Where rent is received in advance it is accounted as accrued income.
Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.
Tax
The tax expense for the period comprises deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and Fittings |
25% straight line |
Motor Vehicles |
25% reducing balance |
Canal Boats |
5% reducing balance |
Office Equipment |
25% straight line |
A.F.T. Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Provisions
Included in non current liabiliites are provisions which have been measured at the best estimate (including risks and uncertainties) of the expenditure required to settle the present obligation, and reflect the present value of expenditures required to settle the obligation where the time value of money is material.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
A.F.T. Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Property |
Other tangible assets |
Total |
|
Cost or valuation |
|||||
At 1 April 2023 |
|
|
|
|
|
Additions |
|
- |
|
|
|
At 31 March 2024 |
|
|
|
|
|
Depreciation |
|||||
At 1 April 2023 |
|
|
- |
|
|
Charge for the year |
|
|
- |
|
|
At 31 March 2024 |
|
|
- |
|
|
Carrying amount |
|||||
At 31 March 2024 |
|
|
|
|
|
At 31 March 2023 |
|
|
|
|
|
A.F.T. Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
The properties included within the companies fixed assets are secured as detials in the creditors note.
Debtors |
Current |
2024 |
2023 |
Trade debtors |
|
|
Prepayments |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
|
2024 |
2023 |
|
Due after more than five years |
||
After more than five years by instalments |
- |
|
After more than five years not by instalments |
- |
|
- |
1,468,996 |
Creditors include mortgages repayable by instalments of £390,981 (2023 - £477,631 due after more than five years. The total borrowings of £695,765 (2022: £706,653) are secured via a fixed and floating charge over the investment properties owned by the company. The charge is in favour of Skipton Building Society.
Creditors include related party loans not repayable by instalments of £949,686 (2022 - £991,365 due after more than five years. These borrowings are secured via a fixed and floating charge over assets of the business in favour of C and D Alder.
A.F.T. Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Related party transactions |
At the balance sheet date, the company owed £949,686 (2023: £991,365) to Mr and Mrs Alder. There are no terms of repayment or interest on this loan.
Ultimate controlling party |
The ultimate controlling party is