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Registration number: 14076429

ACM Property (Midlands) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

ACM Property (Midlands) Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 8

 

ACM Property (Midlands) Ltd

Company Information

Director

Mr Tom Robert Morgan

Registered office

Unit 8 The Courtyard Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Ltd Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

 

ACM Property (Midlands) Ltd

Director's Report for the Year Ended 30 April 2024

The director presents his report and the financial statements for the year ended 30 April 2024.

Director of the company

The director who held office during the year was as follows:

Mr Tom Robert Morgan

Principal activity

The principal activity of the company is property letting.

Small companies provision statement

This report has 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.

Approved by the director on 1 April 2025 and signed on its behalf by:

.........................................
Mr Tom Robert Morgan
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ACM Property (Midlands) Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ACM Property (Midlands) Ltd for the year ended 30 April 2024 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of ACM Property (Midlands) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ACM Property (Midlands) Ltd and state those matters that we have agreed to state to the Board of Directors of ACM Property (Midlands) Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ACM Property (Midlands) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ACM Property (Midlands) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ACM Property (Midlands) Ltd. You consider that ACM Property (Midlands) Ltd 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 accounts of ACM Property (Midlands) Ltd. 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 accounts.

......................................

Pattinsons Business Services Ltd
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

1 April 2025

 

ACM Property (Midlands) Ltd

(Registration number: 14076429)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

381,105

165,574

Current assets

 

Cash at bank and in hand

 

1,198

3,607

Creditors: Amounts falling due within one year

6

(178,905)

(169,186)

Net current liabilities

 

(177,707)

(165,579)

Total assets less current liabilities

 

203,398

(5)

Creditors: Amounts falling due after more than one year

6

(161,233)

-

Provisions for liabilities

(8,251)

-

Net assets/(liabilities)

 

33,914

(5)

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

33,910

(9)

Shareholders' funds/(deficit)

 

33,914

(5)

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 1 April 2025
 

.........................................
Mr Tom Robert Morgan
Director

 

ACM Property (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Unit 8 The Courtyard Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ
United Kingdom

These financial statements were authorised for issue by the director on 1 April 2025.

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

ACM Property (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived internally and ascertained by utilising online valuation tools which use a sales base model which reflects the type of property and location. Changes in fair value are recognised in profit or loss.

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 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

 

ACM Property (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

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

4

Investment properties

2024
£

At 1 May

165,574

Additions

172,105

Fair value adjustments

43,426

At 30 April

381,105

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

-

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

78

Taxation and social security

 

12

12

Other creditors

 

178,893

169,096

 

178,905

169,186

Due after one year

 

Loans and borrowings

9

161,233

-

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

161,233

-

 

ACM Property (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

3

3

3

3

Ordinary A of £1 each

1

1

1

1

4

4

4

4

8

Reserves

Note

30 April 2024
 £

30 April 2023
 £

Distributable reserves

 

(1,265)

(9)

Non-distributable reserves

 

35,175

-

 

33,910

(9)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

161,233

-

10

Related party transactions

A charge was created on Companies House on 11 August 2023 between ACM Property (Midlands) Ltd and Aldermore Bank PLC.