Registered number
02834347
ANGLESOURCE LTD
Filleted Accounts
31 July 2024
ANGLESOURCE LTD
Registered number: 02834347
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 2,900,013 2,844,002
Current assets
Debtors 4 16,107 8,928
Cash at bank and in hand 758,082 835,374
774,189 844,302
Creditors: amounts falling due within one year 5 (93,209) (75,782)
Net current assets 680,980 768,520
Net assets 3,580,993 3,612,522
Capital and reserves
Called up share capital 6 6
Share premium 1,659,996 1,659,996
Revaluation reserve 6 118,250 118,250
Profit and loss account 1,802,741 1,834,270
Shareholders' funds 3,580,993 3,612,522
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MR SIMON ARORA
Director
Approved by the board on 6 September 2024
ANGLESOURCE LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Statutory information
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 section 1A small Entities. There were no material departures from that standard.
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland and the companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Investments
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for smaller entities (effective January 2015), it is a departure from the general requirement of the companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Presentation Currency
The accounts are presented in £ sterling.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Property, plant and equipment
Investment property is accounted for in accordance with Section 16 of FRS 102. Investment property is initially measured at cost and is subsequently remeasured to fair value at the end of each reporting period. Any gains or losses are recorded in the profit and loss account
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Investments
Other
investments
£
Cost
At 1 August 2023 2,844,002
Additions 56,011
At 31 July 2024 2,900,013
4 Debtors 2024 2023
£ £
Other debtors 16,107 8,928
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 57,643 56,117
Taxation and social security costs 5,244 15,143
Deferred income 8,178 8,178
Accruals 18,197 513
VAT 2,714 (4,169)
Other creditors 1,233 -
93,209 75,782
6 Revaluation reserve 2024 2023
£ £
At 1 August 2023 118,250 118,250
At 31 July 2024 118,250 118,250
7 Other information
ANGLESOURCE LTD is a private company limited by shares and incorporated in England. Its registered office is:
Suite 1.01 Westgate
44 Hale Road
Hale
Cheshire
WA14 2EX
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