Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Tangible assets | 4 |
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Investment property | 5 |
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2,895,829 | 2,876,133 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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565,506 | 482,715 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (709,402) | (815,518) | ||
Total assets less current liabilities | 2,186,427 | 2,060,615 | ||
Provision for liabilities | 8 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account | 11 |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Anderson Noble Limited (registered number:
Antony Taylor
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Anderson Noble Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Feridax (1957) Ltd Park Lane, Halesowen, B63 2NT, United Kingdom. The principal place of business is Stanford Road, Great Witley, Worcester, WR6 6JG.
The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
If material misstatements are found in prior period figures, those figures are restated to allow comparability between periods.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Plant and machinery |
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The fair value is determined annually by the director, on an open market value for existing use basis.
In prior years investment property was not recognised at its full value, as the value of the property on transfer into the company, and owed to the director, had not been recognised. Therefore the prior year figures have been restated to reflect the fair value of the property. In prior years, amounts owed to the director had been reported as due > 1 year, there was no agreement in place for this, and therefore amounts owed to director are now reflected as due within one year.
As previously reported | Adjustment | As restated | ||||
Year ended 31 October 2023 | £ | £ | £ | |||
Investment property | 2,718,676 | 150,000 | 2,868,676 | |||
Amounts owed to director | 1,107,253 | 150,000 | 1,257,253 | |||
Amounts owed to director >1 year | 1,257,253 | (1,257,253) | 0 | |||
Amounts owed to director <1 year | 0 | 1,257,253 | 1,257,253 |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 01 November 2023 |
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Additions |
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At 31 October 2024 |
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Accumulated depreciation | |||
At 01 November 2023 |
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Charge for the financial year |
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At 31 October 2024 |
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Net book value | |||
At 31 October 2024 |
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At 31 October 2023 |
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Investment property | |
£ | |
Valuation | |
As at 01 November 2023 |
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Additions | 14,212 |
As at 31 October 2024 |
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Assumptions
These assumptions were arrived at taking account of information from publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2024 valuations were made by the director, on an open market value for existing use basis.
2024 | 2023 | ||
£ | £ | ||
Accrued income |
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VAT recoverable |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
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Credited to the Statement of Income and Retained Earnings |
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At the end of financial year | (
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
2024 | 2023 | ||
£ | £ | ||
Amounts owed to director | 1,203,200 | 1,257,253 |
The profit and loss reserve balance of £2,131,595 at the balance sheet date contains unrealised gains, net of associated deferred tax, of £272,568 in relation to the company's investment properties. This amount is non-distributable.