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Registered number: 09857071
Amas Property Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09857071
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,438 1,798
Investment Properties 5 296,999 296,999
298,437 298,797
CURRENT ASSETS
Debtors 6 23,090 22,725
Cash at bank and in hand 988 2,050
24,078 24,775
Creditors: Amounts Falling Due Within One Year 7 (285,177 ) (245,177 )
NET CURRENT ASSETS (LIABILITIES) (261,099 ) (220,402 )
TOTAL ASSETS LESS CURRENT LIABILITIES 37,338 78,395
Creditors: Amounts Falling Due After More Than One Year 8 (47,055 ) (85,979 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,738 ) (3,738 )
NET LIABILITIES (13,455 ) (11,322 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 24,979 24,979
Profit and Loss Account (38,436 ) (36,303 )
SHAREHOLDERS' FUNDS (13,455) (11,322)
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Kylie Ackers
Director
20/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Amas Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09857071 . The registered office is Lytchett House 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on a reducing balance basis
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2023 3,511
As at 30 November 2024 3,511
Depreciation
As at 1 December 2023 1,713
Provided during the period 360
As at 30 November 2024 2,073
...CONTINUED
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Page 4
Net Book Value
As at 30 November 2024 1,438
As at 1 December 2023 1,798
5. Investment Property
2024
£
Fair Value
As at 1 December 2023 and 30 November 2024 296,999
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 365 -
Other debtors 22,725 22,725
23,090 22,725
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Directors' loan accounts 285,177 245,177
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 47,055 85,979
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 47,055 85,979
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.000 each 2 2
11. Reserves
Fair Value Reserve
£
As at 1 December 2023 24,979
As at 30 November 2024 24,979
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12. Ultimate Controlling Party
There is no ultimate controlling party due to each shareholder owning equal proportions of the total issued share capital.
Page 5