REGISTERED NUMBER: |
A M RILEY PROPERTIES LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 10 AUGUST 2023 TO 31 AUGUST 2024 |
REGISTERED NUMBER: |
A M RILEY PROPERTIES LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 10 AUGUST 2023 TO 31 AUGUST 2024 |
A M RILEY PROPERTIES LTD (REGISTERED NUMBER: 15063986) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 10 August 2023 to 31 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A M RILEY PROPERTIES LTD |
COMPANY INFORMATION |
for the period 10 August 2023 to 31 August 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
A M RILEY PROPERTIES LTD (REGISTERED NUMBER: 15063986) |
BALANCE SHEET |
31 August 2024 |
Notes | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 | ( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
A M RILEY PROPERTIES LTD (REGISTERED NUMBER: 15063986) |
BALANCE SHEET - continued |
31 August 2024 |
The financial statements were approved by the director and authorised for issue on |
A M RILEY PROPERTIES LTD (REGISTERED NUMBER: 15063986) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 10 August 2023 to 31 August 2024 |
1. | STATUTORY INFORMATION |
A M Riley Properties Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The director has indicated their willingness to support the company during its formative years, hence the director continues to adopt the going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is derived from rental income which is recognised on an accrual basis. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs. |
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event accruing after the impairment was recognised, the impairment is reversed in profit or loss. |
Financial liabilities are classified depending on the substance of the contractual arrangements entered into. |
Basic financial liabilities, including trade and other creditors, bank loans, and accruals, are initially recognised at transaction price. |
Debt instruments are subsequently measured at amortised cost using the effective interest method. |
Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire. |
A M RILEY PROPERTIES LTD (REGISTERED NUMBER: 15063986) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 10 August 2023 to 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Revaluations | 7,053 |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
Fair value at 31 August 2024 is represented by: |
£ |
Valuation in 2024 | 140,000 |
If the property had not been revalued it would have been included at the following historical cost: |
£ |
Cost | 132,947 |
Investment property was valued on an open market basis on 31 August 2024 by the director . |
A M RILEY PROPERTIES LTD (REGISTERED NUMBER: 15063986) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 10 August 2023 to 31 August 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Mortgage | 86,250 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Mortgages | 86,250 |
The mortgages are secured by the property that the mortgage relates to. |
8. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 1,340 |
Deferred |
tax |
£ |
Provided during period |
Balance at 31 August 2024 |
9. | RESERVES |
Revaluation |
reserve |
£ |
Non distributable reserves | 7,053 |
Deferred tax on non |
distributable reserves | (1,340 | ) |
At 31 August 2024 |
A M RILEY PROPERTIES LTD (REGISTERED NUMBER: 15063986) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 10 August 2023 to 31 August 2024 |
10. | RELATED PARTY DISCLOSURES |
Loans owing to the directors on an interest free basis of £51,231 (2023: £Nil) were outstanding at the year end, the amounts are repayable on demand. |