A & If Ltd 09946774 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is renting and management of properties Digita Accounts Production Advanced 6.30.9574.0 true true 09946774 2023-04-01 2024-03-31 09946774 2024-03-31 09946774 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 09946774 core:CurrentFinancialInstruments 2024-03-31 09946774 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09946774 core:Non-currentFinancialInstruments 2024-03-31 09946774 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09946774 core:FurnitureFittingsToolsEquipment 2024-03-31 09946774 bus:SmallEntities 2023-04-01 2024-03-31 09946774 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09946774 bus:FilletedAccounts 2023-04-01 2024-03-31 09946774 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09946774 bus:RegisteredOffice 2023-04-01 2024-03-31 09946774 bus:Director1 2023-04-01 2024-03-31 09946774 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 09946774 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09946774 core:ComputerEquipment 2023-04-01 2024-03-31 09946774 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09946774 countries:England 2023-04-01 2024-03-31 09946774 2023-03-31 09946774 core:FurnitureFittingsToolsEquipment 2023-03-31 09946774 2022-04-01 2023-03-31 09946774 2023-03-31 09946774 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 09946774 core:CurrentFinancialInstruments 2023-03-31 09946774 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09946774 core:Non-currentFinancialInstruments 2023-03-31 09946774 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09946774 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09946774

A & If Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

A & If Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

A & If Ltd

Company Information

Director

Mr Ashley Clarke

Registered office

6 Sully
Bradford-On-Avon
BA15 1FP

Accountants

BJP Finance Ltd
Chartered Accountants
34 Market Street
Bradford-On-Avon
Wiltshire
BA15 1LL

 

A & If Ltd

(Registration number: 09946774)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

37

54

Investment property

5

1,920,066

1,920,066

 

1,920,103

1,920,120

Current assets

 

Debtors

6

515

171

Cash at bank and in hand

 

7,511

6,547

 

8,026

6,718

Creditors: Amounts falling due within one year

7

(127,076)

(144,455)

Net current liabilities

 

(119,050)

(137,737)

Total assets less current liabilities

 

1,801,053

1,782,383

Creditors: Amounts falling due after more than one year

7

(1,200,000)

(1,200,000)

Provisions for liabilities

(7)

-

Net assets

 

601,046

582,383

Capital and reserves

 

Called up share capital

8

100

100

Share premium reserve

608,360

608,360

Retained earnings

(7,414)

(26,077)

Shareholders' funds

 

601,046

582,383

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

A & If Ltd

(Registration number: 09946774)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 14 November 2024
 

.........................................
Mr Ashley Clarke
Director

 

A & If Ltd

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

1

General information

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

The address of its registered office is:
6 Sully
Bradford-On-Avon
BA15 1FP
England

These financial statements were authorised for issue by the director on 14 November 2024.

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

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

Tax

The tax expense for the period comprises current and 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.

 

A & If Ltd

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

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.

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

Computer Equipment

25% straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

A & If Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

A & If Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

67

67

At 31 March 2024

67

67

Depreciation

At 1 April 2023

13

13

Charge for the year

17

17

At 31 March 2024

30

30

Carrying amount

At 31 March 2024

37

37

At 31 March 2023

54

54

5

Investment properties

2024
£

At 1 April

1,920,066

At 31 March

1,920,066

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

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

515

-

Other debtors

 

-

171

   

515

171

 

A & If Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

120,983

144,455

Taxation and social security

 

4,771

-

Accruals and deferred income

 

1,322

-

 

127,076

144,455

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,200,000

1,200,000

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £0.01 each

10,000

100

10,000

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

1,200,000

1,200,000

Current loans and borrowings

2024
£

2023
£

Other borrowings

120,983

144,455

 

A & If Ltd

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

10

Related party transactions

During the financial year, the Company provided consultancy services to A & IF Trading Ltd a company under the control of the Director on a commercial basis and received £3,573 (2023:£5,136). The Company also provided a loan to the same Company of £514 and this remains outstanding at the balance sheet date.

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,500

20,406

Contributions paid to money purchase schemes

12,570

40,000

25,070

60,406