Registration number:
Animarum Properties Limited
for the Year Ended 31 July 2024
Animarum Properties Limited
Contents
Statement of Directors' Responsibilities |
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Balance Sheet |
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Notes to the Financial Statements |
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:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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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 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
(1,000,546) |
(668,028) |
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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
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Animarum Properties Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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
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.
Staff numbers |
The average number of persons employed by the Company (including directors) during the year, was
Investment properties |
2024 |
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At 1 August 2023 |
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At 31 July 2024 |
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A valuation was carried out by Savills in July 2024 which valued the property at £2,500,000 (2023: £2,500,000).
Investments |
2024 |
2023 |
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Investments in joint ventures |
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Joint ventures |
£ |
Cost |
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At 1 August 2023 |
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Carrying amount |
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At 31 July 2024 |
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At 31 July 2023 |
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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 |
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2024 |
2023 |
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Joint ventures |
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21 Castle Hill, Lancaster, LA1 1YN |
Ordinary shares |
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England |
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21 Castle Hill, Lancaster, LA1 1YN |
Ordinary shares |
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England |
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21 Castle Hill, Lancaster, LA1 1YN |
Ordinary shares |
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England |
Joint ventures |
CityBlock (Reading) Limited The principal activity of CityBlock (Reading) Limited is to provide other accommodation. Its financial period end is |
CityBlock (Gillows) Limited The principal activity of CityBlock (Gillows) Limited is for the development of building projects. Its financial period end is |
CityBlock (Lancaster 6) Limited The principal activity of CityBlock (Lancaster 6) Limited is for the development of building projects. Its financial period end is |
Animarum Properties Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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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 |
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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.
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Amounts owed to group undertakings: All Souls College to support Joint Venture companies |
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Accruals and deferred income |
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Other creditors |
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- |
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Creditors: amounts falling due after more than one year
2024 |
2023 |
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Due after one year |
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Other non-current financial liabilities - owed to All Souls College |
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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
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Ultimate parent undertaking and controlling party |