COMPANY REGISTRATION NUMBER:
14816983
Filleted Unaudited Financial Statements |
|
30 April 2024
Fixed assets
Tangible assets |
4 |
714,305 |
|
|
|
Current assets
Debtors |
5 |
70,953 |
Cash at bank and in hand |
7,846 |
|
-------- |
|
78,799 |
|
|
|
Creditors: amounts falling due within one year |
6 |
1,695 |
|
-------- |
Net current assets |
77,104 |
|
--------- |
Total assets less current liabilities |
791,409 |
|
|
|
Creditors: amounts falling due after more than one year |
7 |
789,367 |
|
--------- |
Net assets |
2,042 |
|
--------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
Profit and loss account |
1,942 |
|
------- |
Shareholders funds |
2,042 |
|
------- |
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including profit and loss account) has not been delivered.
For the period ending 30 April 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 financial statements for the period in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Balance Sheet (continued) |
|
30 April 2024
These financial statements were approved by the
board of directors
and authorised for issue on
20 January 2025
, and are signed on behalf of the board by:
Company registration number:
14816983
Notes to the Financial Statements |
|
Period from 20 April 2023 to 30 April 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cors Afanen, Eryrys Road, Mynydd Du, Denbighshire, CH7 4BR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
Freehold property |
Fixtures and fittings |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 20 April 2023 |
– |
– |
– |
Additions |
710,719 |
4,781 |
715,500 |
|
--------- |
------- |
--------- |
At 30 April 2024 |
710,719 |
4,781 |
715,500 |
|
--------- |
------- |
--------- |
Depreciation |
|
|
|
At 20 April 2023 |
– |
– |
– |
Charge for the period |
– |
1,195 |
1,195 |
|
--------- |
------- |
--------- |
At 30 April 2024 |
– |
1,195 |
1,195 |
|
--------- |
------- |
--------- |
Carrying amount |
|
|
|
At 30 April 2024 |
710,719 |
3,586 |
714,305 |
|
--------- |
------- |
--------- |
|
|
|
|
5.
Debtors
|
30 Apr 24 |
|
£ |
Other debtors |
70,953 |
|
-------- |
|
|
6.
Creditors:
amounts falling due within one year
|
30 Apr 24 |
|
£ |
Corporation tax |
735 |
Other creditors |
960 |
|
------- |
|
1,695 |
|
------- |
|
|
7.
Creditors:
amounts falling due after more than one year
|
30 Apr 24 |
|
£ |
Bank loans and overdrafts |
350,175 |
Other creditors |
439,192 |
|
--------- |
|
789,367 |
|
--------- |
|
|
During the year a bank loan totalling £187,775 was advanced, secured against one of the properties.This loan is interest only, at an initial rate of 6.49%, repayable on 30 years. Also, a second bank loan was advanced, secured against the other property. This loan totalled £162,400 is interest only, at an initial rate of 6.49%, repayable on 30 years.
8.
Director's advances, credits and guarantees
During the period the directors advanced a loan to the company, totalling £439,191. This loan will not be repaid before 30 April 2025.