BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the buying and selling of own real estate and management of real estate on a fee or contract basis. 26 November 2024 2 2 NI611327 2024-02-29 NI611327 2023-02-28 NI611327 2022-02-28 NI611327 2023-03-01 2024-02-29 NI611327 2022-03-01 2023-02-28 NI611327 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI611327 uk-curr:PoundSterling 2023-03-01 2024-02-29 NI611327 uk-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI611327 uk-bus:FullAccounts 2023-03-01 2024-02-29 NI611327 uk-core:ShareCapital 2024-02-29 NI611327 uk-core:ShareCapital 2023-02-28 NI611327 uk-core:RevaluationReserve 2024-02-29 NI611327 uk-core:RevaluationReserve 2023-02-28 NI611327 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 NI611327 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI611327 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-29 NI611327 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 NI611327 uk-bus:FRS102 2023-03-01 2024-02-29 NI611327 uk-core:Goodwill 2023-03-01 2024-02-29 NI611327 uk-core:PlantMachinery 2023-03-01 2024-02-29 NI611327 uk-core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 NI611327 uk-core:MotorVehicles 2023-03-01 2024-02-29 NI611327 uk-core:Goodwill 2023-02-28 NI611327 uk-core:Goodwill 2024-02-29 NI611327 uk-core:CostValuation 2023-02-28 NI611327 uk-core:AdditionsToInvestments 2024-02-29 NI611327 uk-core:CostValuation 2024-02-29 NI611327 uk-core:CurrentFinancialInstruments 2024-02-29 NI611327 uk-core:CurrentFinancialInstruments 2023-02-28 NI611327 uk-core:CurrentFinancialInstruments 2024-02-29 NI611327 uk-core:CurrentFinancialInstruments 2023-02-28 NI611327 uk-core:WithinOneYear 2024-02-29 NI611327 uk-core:WithinOneYear 2023-02-28 NI611327 uk-core:WithinOneYear 2024-02-29 NI611327 uk-core:WithinOneYear 2023-02-28 NI611327 uk-core:AfterOneYear 2024-02-29 NI611327 uk-core:AfterOneYear 2023-02-28 NI611327 uk-core:BetweenOneTwoYears 2024-02-29 NI611327 uk-core:BetweenOneTwoYears 2023-02-28 NI611327 uk-core:EmployeeBenefits 2023-02-28 NI611327 uk-core:EmployeeBenefits 2023-03-01 2024-02-29 NI611327 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-02-29 NI611327 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-02-29 NI611327 uk-core:OtherDeferredTax 2024-02-29 NI611327 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-02-29 NI611327 uk-core:EmployeeBenefits 2024-02-29 NI611327 2023-03-01 2024-02-29 NI611327 uk-bus:Director2 2023-03-01 2024-02-29 NI611327 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI611327
 
 
Ambleside Property Services Ltd
 
Unaudited Financial Statements
 
for the financial year ended 29 February 2024
Ambleside Property Services Ltd
Company Registration Number: NI611327
BALANCE SHEET
as at 29 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 291,569 -
Tangible assets 5 648,078 474,609
Investments 6 1,702,606 255
───────── ─────────
Fixed Assets 2,642,253 474,864
───────── ─────────
 
Current Assets
Stocks 7 170,573 160,080
Debtors 8 197,767 319,109
Cash and cash equivalents 75,401 6,654
───────── ─────────
443,741 485,843
───────── ─────────
Creditors: amounts falling due within one year 9 (873,423) (296,727)
───────── ─────────
Net Current (Liabilities)/Assets (429,682) 189,116
───────── ─────────
Total Assets less Current Liabilities 2,212,571 663,980
 
Creditors:
amounts falling due after more than one year 10 (1,187,685) (22,685)
 
Provisions for liabilities 12 (659) (2,174)
───────── ─────────
Net Assets 1,024,227 639,121
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Revaluation reserve 187,867 106,036
Retained earnings 836,358 533,083
───────── ─────────
Equity attributable to owners of the company 1,024,227 639,121
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 26 November 2024 and signed on its behalf by
           
           
________________________________          
Michael Hannath          
Director          
           



Ambleside Property Services Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 29 February 2024

   
1. General Information
 
Ambleside Property Services Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 5a Stewart Avenue, Co. Armagh, Northern Ireland. The principal activity of the company is the buying and selling of own real estate and management of real estate on a fee or contract basis. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 29 February 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of consultancy services exclusive of value added tax together with rental income received on investment properties. Revenue from consultancy work is recognised when the assignment is completed and invoiced. Rental income is accounted for when received.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 0 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Straight line
  Fixtures, fittings and equipment - 25% reducing balance
  Motor vehicles - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by the directors or, when property prices fluctuate materially, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Work In Progress is valued at the lower of cost and net realisable value.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2023 - 2).
 
  2024 2023
  Number Number
 
Director 2 2
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 March 2023 - -
Additions 291,569 291,569
  ───────── ─────────
At 29 February 2024 291,569 291,569
  ───────── ─────────
Net book value
At 29 February 2024 291,569 291,569
  ═════════ ═════════
             
5. Tangible assets
  Investment Plant and Fixtures, Motor Total
  properties machinery fittings and vehicles  
      equipment    
  £ £ £ £ £
Cost or Valuation
At 1 March 2023 463,169 616 6,411 31,500 501,696
Additions 100,441 - - - 100,441
Revaluation 81,831 - - - 81,831
  ───────── ───────── ───────── ───────── ─────────
At 29 February 2024 645,441 616 6,411 31,500 683,968
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 March 2023 - 269 3,193 23,625 27,087
Charge for the financial year - 123 805 7,875 8,803
  ───────── ───────── ───────── ───────── ─────────
At 29 February 2024 - 392 3,998 31,500 35,890
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 29 February 2024 645,441 224 2,413 - 648,078
  ═════════ ═════════ ═════════ ═════════ ═════════
At 28 February 2023 463,169 347 3,218 7,875 474,609
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
At 1 March 2023 255 255
Additions 1,702,351 1,702,351
  ───────── ─────────
At 29 February 2024 1,702,606 1,702,606
  ───────── ─────────
Net book value
At 29 February 2024 1,702,606 1,702,606
  ═════════ ═════════
At 28 February 2023 255 255
  ═════════ ═════════
       
7. Stocks 2024 2023
  £ £
 
Work in progress 170,573 160,080
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
8. Debtors 2024 2023
  £ £
 
Trade debtors 6,000 33,600
Amounts owed by group undertakings 21,487 39,987
Other debtors 159,742 243,787
Directors' current accounts (Note 15) 9,725 -
Prepayments and accrued income 813 1,735
  ───────── ─────────
  197,767 319,109
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank loan 10,648 10,648
Other loans 502,551 -
Trade creditors 73,570 4,005
Taxation  (Note 11) 67,353 32,425
Directors' current accounts - 963
Other creditors 205,886 246,486
Accruals 13,415 2,200
  ───────── ─────────
  873,423 296,727
  ═════════ ═════════
       
10. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 12,685 22,685
Other loans 1,175,000 -
  ───────── ─────────
  1,187,685 22,685
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 9) 513,199 10,648
Repayable between one and two years 1,187,685 22,685
  ───────── ─────────
  1,700,884 33,333
  ═════════ ═════════
 
       
11. Taxation 2024 2023
  £ £
 
Creditors:
VAT 12,801 1,247
Corporation tax 54,552 31,178
  ───────── ─────────
  67,353 32,425
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 2,174 2,174 3,533
Charged to profit and loss (1,515) (1,515) (1,359)
  ───────── ───────── ─────────
At financial year end 659 659 2,174
  ═════════ ═════════ ═════════
       
13. Capital commitments
 
The company had no material capital commitments at the financial year-ended 29 February 2024.
           
14. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
   
15. Directors' advances, credits and guarantees
 
During the year the company made a loan to a director amounting to £9,725.
   
16. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.
       
17. Changes in Equity
 
Other Comprehensive Income 2024 2023
  £ £
 
Revaluation reserve unrealised movement on revaluation of property 81,831 -
  ═════════ ═════════