REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
Anvermead Properties Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
Anvermead Properties Limited |
Anvermead Properties Limited (Registered number: 02466673) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Anvermead Properties Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
28 Church Road |
Stanmore |
Middlesex |
HA7 4XR |
Anvermead Properties Limited (Registered number: 02466673) |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
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. |
Anvermead Properties Limited (Registered number: 02466673) |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Anvermead Properties Limited (Registered number: 02466673) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Anvermead Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income is recognised over the period of the tenancy agreement. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Anvermead Properties Limited (Registered number: 02466673) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. No depreciation is provided in respect of these investment properties. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2016 | 1,020,671 |
Valuation in 2017 | 36,198 |
Valuation in 2018 | 46,518 |
Valuation in 2019 | 118,720 |
Cost | 537,058 |
1,759,165 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Anvermead Properties Limited (Registered number: 02466673) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by way of a legal charge on the investment property. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included within other creditors at the year end is an aggregate amount due to the directors H Patel and A Patel of £80 (2023: £164,658 other debtors). Interest of £3,186 (2023: £3,603) was charged on the overdrawn balance at a rate of 2.25% (2023: 2%) . |
There have been no advances which individually were considered material and no advances exceeding £20,000 to the directors. |
11. | RELATED PARTY DISCLOSURES |
Included within other creditors at the year end is an amount of £7,087 (2023: £7,087) unpaid interest payable to a trust in which the directors are trustees. After the year end, this trust became a shareholder of Anvermead Properties Limited. Interest was charged on a £300,000 unsecured loan at a rate of 2% above base rate up until June 2021 when the capital element was settled. The balance is repayable on demand. |
12. | OTHER RESERVES |
Included within other reserves are non-distributable reserves of £966,270 (2023: £966,270) which relate to the revaluation of investment property. |