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Company registration number: 01439449
Albion Tenby Limited
Unaudited filleted financial statements
30 June 2024
Albion Tenby Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Albion Tenby Limited
Directors and other information
Director Mr A M Brooks
Secretary Mrs Susie Brooks
Company number 01439449
Registered office The Albion
4 Pier Hill
Tenby
Wales
SA70 7BS
Accountants Hardcastle Blake
19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
Albion Tenby Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Albion Tenby Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Albion Tenby Limited for the year ended 30 June 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Albion Tenby Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Albion Tenby Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Albion Tenby Limited and its director as a body for our work or for this report.
It is your duty to ensure that Albion Tenby Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Albion Tenby Limited. You consider that Albion Tenby Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Albion Tenby Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hardcastle Blake
ICAEW
19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
20 March 2025
Albion Tenby Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 1,000 1,000
Investments 5 499,950 499,950
_______ _______
500,950 500,950
Current assets
Debtors 6 100 10,993
Cash at bank and in hand 7,401 4,122
_______ _______
7,501 15,115
Creditors: amounts falling due
within one year 7 ( 18,063) ( 7,418)
_______ _______
Net current (liabilities)/assets ( 10,562) 7,697
_______ _______
Total assets less current liabilities 490,388 508,647
Provisions for liabilities ( 43,850) ( 43,850)
_______ _______
Net assets 446,538 464,797
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 446,438 464,697
_______ _______
Shareholder funds 446,538 464,797
_______ _______
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 member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
Mr A M Brooks
Director
Company registration number: 01439449
Albion Tenby Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is The Albion, 4 Pier Hill, Tenby, Wales, SA70 7BS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the provision of furnished holiday let accommodation, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Fixed asset 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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2023 and 30 June 2024 1,000 1,000
_______ _______
Depreciation
At 1 July 2023 and 30 June 2024 - -
_______ _______
Carrying amount
At 30 June 2024 1,000 1,000
_______ _______
At 30 June 2023 1,000 1,000
_______ _______
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 July 2023 and 30 June 2024 499,950 499,950
_______ _______
Impairment
At 1 July 2023 and 30 June 2024 - -
_______ _______
Carrying amount
At 30 June 2024 499,950 499,950
_______ _______
At 30 June 2023 499,950 499,950
_______ _______
6. Debtors
2024 2023
£ £
Amounts owed by group undertakings - 10,893
Other debtors 100 100
_______ _______
100 10,993
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 4,535 1,089
Amounts owed to group undertakings 7,002 -
Corporation tax - 1,241
Social security and other taxes 1,117 1,574
Other creditors 5,409 3,514
_______ _______
18,063 7,418
_______ _______
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2024 2023
£ £
Crayford Special Ventures Limited - (325,500)
_______ _______
During the year the inter-company loan balance due to the parent company Crayford Special Ventures Limited was formally waived .
9. Controlling party
The company is a 100% wholly owned subsidiary of Crayford Special Ventures Limited. The companies share the same registered office .