Registered number
13396735
A.C.Y Properties Limited
Filleted Accounts
31 March 2024
A.C.Y Properties Limited
Registered number: 13396735
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 794,320 794,320
Current assets
Debtors 4 48,010 22,892
Cash at bank and in hand 9,644 7,787
57,654 30,679
Creditors: amounts falling due within one year 5 (284,336) (288,951)
Net current liabilities (226,682) (258,272)
Total assets less current liabilities 567,638 536,048
Creditors: amounts falling due after more than one year 6 (520,337) (520,307)
Net assets 47,301 15,741
Capital and reserves
Called up share capital 100 100
Profit and loss account 47,201 15,641
Shareholders' funds 47,301 15,741
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ayten Ozzagli
Director
Approved by the board on 24 January 2025
A.C.Y Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investment Property and Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. Investment property is shown at most recent valuation. The valuation was undertaken by the directors at open market value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 April 2023 794,320
At 31 March 2024 794,320
4 Debtors 2024 2023
£ £
Trade debtors 48,010 22,892
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 17,199 17,175
Trade creditors 60 60
Taxation and social security costs 7,403 3,669
Other creditors 259,674 268,047
284,336 288,951
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 520,337 520,307
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 259,434 267,808
Instalments falling due for payment after more than five years 520,337 537,482
779,771 805,290
8 Other information
A.C.Y Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
52 Senlac Road
London
SE12 9NB
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