Animarum Properties Limited 08506173 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is the carring out of certain commercial transactions that are not appropriate for the parent entity, All Souls College, as a charity Digita Accounts Production Advanced 6.30.9574.0 true true 08506173 2023-08-01 2024-07-31 08506173 2024-07-31 08506173 bus:OrdinaryShareClass1 2024-07-31 08506173 core:CurrentFinancialInstruments 2024-07-31 08506173 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 08506173 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 08506173 core:JointVenture1 2024-07-31 08506173 core:JointVenture2 2024-07-31 08506173 core:JointVenture3 2024-07-31 08506173 bus:SmallEntities 2023-08-01 2024-07-31 08506173 bus:Audited 2023-08-01 2024-07-31 08506173 bus:FilletedAccounts 2023-08-01 2024-07-31 08506173 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08506173 bus:RegisteredOffice 2023-08-01 2024-07-31 08506173 bus:Director2 2023-08-01 2024-07-31 08506173 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 08506173 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08506173 core:JointVenture1 2023-08-01 2024-07-31 08506173 core:JointVenture1 countries:AllCountries 2023-08-01 2024-07-31 08506173 core:JointVenture2 2023-08-01 2024-07-31 08506173 core:JointVenture2 countries:AllCountries 2023-08-01 2024-07-31 08506173 core:JointVenture3 2023-08-01 2024-07-31 08506173 core:JointVenture3 countries:AllCountries 2023-08-01 2024-07-31 08506173 core:ParentEntities 2023-08-01 2024-07-31 08506173 countries:EnglandWales 2023-08-01 2024-07-31 08506173 2023-07-31 08506173 core:CostValuation 2023-07-31 08506173 2022-08-01 2023-07-31 08506173 2023-07-31 08506173 bus:OrdinaryShareClass1 2023-07-31 08506173 core:CurrentFinancialInstruments 2023-07-31 08506173 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 08506173 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 08506173 core:JointVenture1 2022-08-01 2023-07-31 08506173 core:JointVenture2 2022-08-01 2023-07-31 08506173 core:JointVenture3 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08506173

Animarum Properties Limited

Filleted Financial Statements

for the Year Ended 31 July 2024

 

Animarum Properties Limited

Contents

Statement of Directors' Responsibilities

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Animarum Properties Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Animarum Properties Limited

(Registration number: 08506173)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

2,500,000

2,500,000

Investments

5

150

150

 

2,500,150

2,500,150

Current assets

 

Debtors

6

15,528,264

14,709,452

Cash at bank and in hand

 

76,123

16,394

 

15,604,387

14,725,846

Creditors: Amounts falling due within one year

7

(15,919,575)

(14,894,023)

Net current liabilities

 

(315,188)

(168,177)

Total assets less current liabilities

 

2,184,962

2,331,973

Creditors: Amounts falling due after more than one year

7

(3,185,507)

(3,000,000)

Net liabilities

 

(1,000,545)

(668,027)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(1,000,546)

(668,028)

Shareholders' deficit

 

(1,000,545)

(668,027)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 December 2024 and signed on its behalf by:
 

.........................................
D J C Renton
Director

 

Animarum Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
All Souls College
High Street
Oxford
OX1 4AL

These financial statements were authorised for issue by the Board on 7 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe that the going concern basis is appropriate in preparing the annual financial statements. The Board has received confirmation from All Souls College that support for the Company will continue for at least twelve months from the date of approval of these financial statements.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 9 December 2024 was Robert Kirtland, who signed for and on behalf of Critchleys Audit LLP.

 

Animarum Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

Animarum Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 August 2023

2,500,000

At 31 July 2024

2,500,000

A valuation was carried out by Savills in July 2024 which valued the property at £2,500,000 (2023: £2,500,000).

5

Investments

2024
£

2023
£

Investments in joint ventures

150

150

Joint ventures

£

Cost

At 1 August 2023

150

Carrying amount

At 31 July 2024

150

At 31 July 2023

150

 

Animarum Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Joint ventures

CityBlock (Reading) Limited

21 Castle Hill, Lancaster, LA1 1YN

Ordinary shares

50%

50%

England

CityBlock (Gillows) Limited

21 Castle Hill, Lancaster, LA1 1YN

Ordinary shares

50%

50%

England

CityBlock (Lancaster 6) Limited

21 Castle Hill, Lancaster, LA1 1YN

Ordinary shares

50%

50%

England

Joint ventures

CityBlock (Reading) Limited

The principal activity of CityBlock (Reading) Limited is to provide other accommodation. Its financial period end is 31 August 2024. The aggregate amount of Capital and reserves at the end of the period was £1,767,654.

CityBlock (Gillows) Limited

The principal activity of CityBlock (Gillows) Limited is for the development of building projects. Its financial period end is 31 August 2024. The aggregate amount of Capital and reserves at the end of the period was £542,382.

CityBlock (Lancaster 6) Limited

The principal activity of CityBlock (Lancaster 6) Limited is for the development of building projects. Its financial period end is 31 August 2024. The aggregate amount of Capital and reserves at the end of the period was £(159,238).

 

Animarum Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Debtors

2024
£

2023
£

Trade debtors

7,400

-

Loan to CityBlock (Lancaster 6) Limited

3,241,798

3,132,257

Loan to CityBlock (Gillows) Limited

4,387,549

4,257,520

Loan to CityBlock (Reading) Limited

7,891,516

7,319,674

Other debtors

1

1

15,528,264

14,709,452

The loan to City Block (Reading) Limited of £7,891,516, including accrued interest (2023: £7,319,674) is part of the financing for a building project at Berkshire House in Reading with interest charged at 10% p.a. The loans to CityBlock (Gillows) Limited of £4,387,549 including accrued interest (2023: £4,257,520) and CityBlock (Lancaster 6) Limited of £3,241,798 including accrued interest, (2023: £3,132,257) are part of the financing for two student accommodation buildings in Lancaster with interest charged at 6% p.a. The Company's loan facilities are secured on the properties. The remaining financing of the project is by a bank loan entered into by CityBlock Holdings Limited.

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings: All Souls College to support Joint Venture companies

9

15,860,703

14,864,611

Accruals and deferred income

 

20,986

29,412

Other creditors

 

37,886

-

 

15,919,575

14,894,023

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities - owed to All Souls College

3,185,507

3,000,000

In 2023 the company drew down £3,000,000 from the loan facility made available by All Souls College (total available of £10,000,000) in order to purchase an Investment Property in Gloucestershire, incurring interest at 5.5% p.a. This loan is secured on the property. The loan and interest is repayable to All Souls College when the property is sold.

 

Animarum Properties Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Ultimate parent undertaking and controlling party

The ultimate parent undertaking of this company is All Souls College in the University of Oxford