0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 642,220 642,220 642,220 xbrli:pure xbrli:shares iso4217:GBP 05150484 2023-07-01 2024-06-30 05150484 2024-06-30 05150484 2023-06-30 05150484 2022-07-01 2023-06-30 05150484 2023-06-30 05150484 2022-06-30 05150484 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 05150484 bus:Director1 2023-07-01 2024-06-30 05150484 core:WithinOneYear 2024-06-30 05150484 core:WithinOneYear 2023-06-30 05150484 core:ShareCapital 2024-06-30 05150484 core:ShareCapital 2023-06-30 05150484 core:OtherReservesSubtotal 2024-06-30 05150484 core:OtherReservesSubtotal 2023-06-30 05150484 core:RetainedEarningsAccumulatedLosses 2024-06-30 05150484 core:RetainedEarningsAccumulatedLosses 2023-06-30 05150484 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 05150484 core:Non-currentFinancialInstruments 2024-06-30 05150484 core:Non-currentFinancialInstruments 2023-06-30 05150484 bus:SmallEntities 2023-07-01 2024-06-30 05150484 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05150484 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05150484 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05150484 bus:FullAccounts 2023-07-01 2024-06-30 05150484 bus:OrdinaryShareClass1 2024-06-30 05150484 bus:OrdinaryShareClass1 2023-06-30 05150484 core:AccountingPolicyChangeIncreaseDecrease bus:Director1 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 05150484
Advanced Estates Limited
Filleted Unaudited Financial Statements
30 June 2024
Advanced Estates Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
642,220
642,220
Current assets
Cash at bank and in hand
1,784
6,227
Creditors: amounts falling due within one year
5
11,387
41,205
-------
-------
Net current liabilities
9,603
34,978
--------
--------
Total assets less current liabilities
632,617
607,242
Accruals and deferred income
28,485
33,804
--------
--------
Net assets
604,132
573,438
--------
--------
Capital and reserves
Called up share capital
6
1,000
1,000
Other reserves, including the fair value reserve
65,249
65,249
Profit and loss account
537,883
507,189
--------
--------
Shareholders funds
604,132
573,438
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 30 June 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 year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 February 2025 , and are signed on behalf of the board by:
K. Kalsi
Director
Company registration number: 05150484
Advanced Estates Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered and trading in England and Wales with company number 05150484 . The address of the registered office is 9 Hurst Road, Longford, Coventry, England, CV6 6EG.
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, rounded to the nearest £.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received for rent net of discounts and Value Added Tax.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
4. Investments
Investment property
£
Cost
At 1 July 2023 and 30 June 2024
642,220
--------
Impairment
At 1 July 2023 and 30 June 2024
--------
Carrying amount
At 30 June 2024
642,220
--------
At 30 June 2023
642,220
--------
The investment property was valued by the director on an open market basis at £642,220 as at 30 June 2024 (2023: £642,220). The historical cost of the investment property was £583,854 (2023: £583,854).
5. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
10,350
9,168
Other creditors
1,037
32,037
-------
-------
11,387
41,205
-------
-------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
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------
------
------
7. Director's advances, credits and guarantees
At the reporting date the directors loan account was in credit by £1,037 (2023: £32,037). There is no fixed term for repayment and no interest is charged.