REGISTERED NUMBER: |
APD ESTATES (BIRMINGHAM) LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
APD ESTATES (BIRMINGHAM) LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
APD ESTATES (BIRMINGHAM) LTD (REGISTERED NUMBER: 07586267) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
APD ESTATES (BIRMINGHAM) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
MHA House |
Charter Court |
Swansea Enterprise Park |
Swansea |
SA7 9FS |
APD ESTATES (BIRMINGHAM) LTD (REGISTERED NUMBER: 07586267) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
APD ESTATES (BIRMINGHAM) LTD (REGISTERED NUMBER: 07586267) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
APD ESTATES (BIRMINGHAM) LTD (REGISTERED NUMBER: 07586267) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
APD Estates (Birmingham) Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
Monetary amounts in these financial statements are rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention, modified to include investment property at fair value. |
The particular accounting policies adopted, which have been applied consistently throughout the current and prior financial year, are described below. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period or in the period of the revision and future periods if the revision affects both current and future periods. |
Recoverability of related party debtors |
The directors assess the recoverability of related party debtor balances at the reporting date and make provisions against balances where deemed necessary. The directors review the financial position of related party companies to assess their ability to repay the debt. |
Turnover |
Turnover represents rental, insurance and service charge income, excluding value added tax. |
Revenue recognition |
Revenue is recognised evenly over the period to which it relates. |
Tangible fixed assets |
The company's land and buildings are treated as an investment property, as defined by the Financial Reporting Standard 102 Section 1A "Small Entities" accordingly, they are not depreciated. Investment properties for which fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value annually, with the change recognised in the income statement. Surpluses or deficits on revaluation are then transferred from Retained Earnings to a separate non-distributable reserve. |
APD ESTATES (BIRMINGHAM) LTD (REGISTERED NUMBER: 07586267) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they 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. |
Provisions and contingent liabilities |
Provisions are recognised when the company has a present obligation as a result of a past event, it is probable that the company will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Otherwise, material contingent liabilities are disclosed unless the transfer of economic benefits is remote. Contingent assets are only disclosed if an inflow of economic benefits is probable. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Going concern |
The company has made a profit in the year and has both net current assets and net assets at the statement of financial position date. The company also has a cash at bank balance of £193,068 as at 31 March 2024. |
After making enquiries the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
APD ESTATES (BIRMINGHAM) LTD (REGISTERED NUMBER: 07586267) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Investment |
property |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The company's leasehold property is treated as an investment property under Section 1A "Small Entities" of Financial Reporting Standard 102. The property was valued at open market value on an existing use basis by the directors. |
The historical cost of the investment property is £7,651,780 (2023 - £7,651,780). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by related parties |
Prepayments |
Accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
VAT | 68,077 | 55,517 |
Other creditors |
Accruals and deferred income |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loans are secured on the company's investment property. |
APD ESTATES (BIRMINGHAM) LTD (REGISTERED NUMBER: 07586267) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |