Company registration number 09110739 (England and Wales)
ATA PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ATA PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ATA PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
560,000
465,098
Current assets
Debtors
4
6,454
6,327
Cash at bank and in hand
37,827
24,004
44,281
30,331
Creditors: amounts falling due within one year
5
(27,089)
(26,560)
Net current assets
17,192
3,771
Total assets less current liabilities
577,192
468,869
Provisions for liabilities
(10,167)
-
0
Net assets
567,025
468,869
Capital and reserves
Called up share capital
3
3
Revaluation reserve
6
84,736
-
0
Profit and loss reserves
482,286
468,866
Total equity
567,025
468,869

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 1 November 2024 and are signed on its behalf by:
Mr A C Butcher
Director
Company registration number 09110739 (England and Wales)
ATA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

ATA Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cabourn House, Station Street, Bingham, Nottinghamshire, England, NG13 8AQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced rent receivable from the company's property portfolio, excluding value added tax.

 

Where the rental period straddles the financial year end, the proportion that relates to the following year is deferred.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

The aggregate surplus or deficit arising from changes in fair value is transferred from the profit and loss reserve to the investment property revaluation reserve as any surplus arising is non distributable.

 

Deferred taxation is provided on gains and losses, to the extent that they are recoverable, at the rate expected to apply when the property is sold.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ATA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which the are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

 

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 August 2023
465,098
Revaluations
94,902
At 31 July 2024
560,000

The directors have considered the value of the property at 31st July 2024 and reflected the fair value in these financial statements.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,167
5,167
Other debtors
1,287
1,160
6,454
6,327
ATA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
10,935
10,534
Other taxation and social security
2,077
2,077
Other creditors
14,077
13,949
27,089
26,560
6
Revaluation reserve
2024
2023
£
£
At the beginning of the year
-
0
-
0
Other movements
84,736
-
At the end of the year
84,736
-
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