REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
AI (SOUTH EAST) LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
AI (SOUTH EAST) LIMITED |
AI (SOUTH EAST) LIMITED (REGISTERED NUMBER: 11090138) |
Contents of the Financial Statements |
for the year ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
AI (SOUTH EAST) LIMITED |
Company Information |
for the year ended 30 September 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
AI (SOUTH EAST) LIMITED (REGISTERED NUMBER: 11090138) |
Balance Sheet |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Fair value reserve |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AI (SOUTH EAST) LIMITED (REGISTERED NUMBER: 11090138) |
Notes to the Financial Statements |
for the year ended 30 September 2024 |
1. | Statutory information |
AI (South East) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about AI (South East) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Taxation |
Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
Investments in subsidiaries |
Investments in subsidiaries are measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. The non-distributable surplus/deficit is then transferred to a fair value reserve. |
Fair value is determined by estimating the transaction price for the investment in an arm's length exchange at the measurement date. This is based on movements in the value of the assets owned by the subsidiary. For both subsidiaries in the group fair value is primarily determined by the fair value of the investment property owned by those subsidiaries. |
Investments in associates |
Investments in associate undertakings are recognised at cost less impairment. |
AI (SOUTH EAST) LIMITED (REGISTERED NUMBER: 11090138) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2024 |
3. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
4. | Fixed asset investments |
Shares in |
group | Interest in |
undertakings | associate | Totals |
£ | £ | £ |
Cost or valuation |
At 1 October 2023 | 996,897 |
Revaluations | 40,588 |
At 30 September 2024 | 1,037,485 |
Net book value |
At 30 September 2024 | 1,037,485 |
At 30 September 2023 | 996,897 |
Cost or valuation at 30 September 2024 is represented by: |
Shares in |
group | Interest in |
undertakings | associate | Totals |
£ | £ | £ |
Valuation in 2019 | 299,502 | - | 299,502 |
Valuation in 2020 | 157,050 | - | 157,050 |
Valuation in 2021 | 114,180 | - | 114,180 |
Valuation in 2022 | 85,966 | - | 85,966 |
Valuation in 2023 | 8,273 | - | 8,273 |
Valuation in 2024 | 40,588 | - | 40,588 |
Cost | 329,926 | 2,000 | 331,926 |
1,035,485 | 2,000 | 1,037,485 |
If investments had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 331,926 | 331,926 |
Investments were valued on an open market basis on 30 September 2024 by the directors . |
5. | Debtors |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
AI (SOUTH EAST) LIMITED (REGISTERED NUMBER: 11090138) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2024 |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Other creditors |
8. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
Included in creditors due after more than one year are other loans totalling £4,115,625 (2023: £4,174,955) which have been secured by a fixed and floating charge over all property and undertakings of the company. |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 50,000 | 50,000 |
10. | Related party disclosures |
At the period end date, the entity was owed £3,586,299 (2023: £3,621,267) from it's subsidiaries. |