Company registration number 12151656 (England and Wales)
AFFORDABLE HOMES TO LET LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
AFFORDABLE HOMES TO LET LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
AFFORDABLE HOMES TO LET LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
8,869
Investment properties
4
3,857,075
3,620,000
3,857,075
3,628,869
Current assets
Debtors
5
9,457
11,401
Cash at bank and in hand
9,149
7,955
18,606
19,356
Creditors: amounts falling due within one year
6
(1,987,210)
(1,648,281)
Net current liabilities
(1,968,604)
(1,628,925)
Total assets less current liabilities
1,888,471
1,999,944
Creditors: amounts falling due after more than one year
7
(1,176,468)
(1,221,742)
Provisions for liabilities - deferred tax
(170,790)
(183,095)
Net assets
541,213
595,107
Capital and reserves
Called up share capital
8
2
2
Other reserve
9
673,844
661,339
Profit and loss reserves
(132,633)
(66,234)
Total equity
541,213
595,107

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

AFFORDABLE HOMES TO LET LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 January 2026 and are signed on its behalf by:
Mr JS Dhesi
Director
Company Registration No. 12151656
AFFORDABLE HOMES TO LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Affordable Homes To Let Limited is a private company limited by shares incorporated in England and Wales. The registered office is Redhill House, Cat Lane, Bilbrough, York, United Kingdom, YO23 3PJ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Turnover is recognised at the fair value of the consideration received or receivable either the sale of p roperties or from rental income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised through the profit and loss. The profit and loss reserves in equity are split out between non-distributable reserves and distributable profit and loss reserves. Revaluation s in investment property are shown through the p rofit and loss reserves.

AFFORDABLE HOMES TO LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

AFFORDABLE HOMES TO LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2024
13,200
Disposals
(13,200)
At 30 April 2025
-
0
Depreciation and impairment
At 1 May 2024
4,331
Eliminated in respect of disposals
(4,331)
At 30 April 2025
-
0
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
8,869
AFFORDABLE HOMES TO LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
4
Investment property
2025
£
Fair value
At 1 May 2024
3,620,000
Additions
492,075
Disposals
(255,000)
At 30 April 2025
3,857,075

Investments are stated in accordance with the directors valuation at the year end on an open market basis.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
776
2,348
Other debtors
8,681
9,053
9,457
11,401
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
7,848
9,948
Loans from finance companies
492,442
626,996
Trade creditors
24,169
21,283
Other creditors
1,458,281
986,034
Accruals and deferred income
4,470
4,020
1,987,210
1,648,281

Bank loans is unsecured and is 100% guaranteed by the UK Government. There are no fixed charges or covenants associated with the loan.

Loans from finance companies are are secured by fixed charges over investment properties.

Other creditors include a loan from a company under the control of Mr J S Dhesi amounting to £485,000 (2024 - £135,000) together with a loan from the directors amounting to £973,281 (2024 - £851,034).

AFFORDABLE HOMES TO LET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
0
11,573
Loans from finance companies
1,176,468
1,210,169
1,176,468
1,221,742

Bank loans is unsecured and is 100% guaranteed by the UK Government. There are no fixed charges or covenants associated with the loan.

Loans from finance companies are are secured by fixed charges over investment properties.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2

The company has one class of ordinary shares which rank equally for voting and distribution.

9
Fair value reserve
2025
2024
£
£
At the beginning of the year
661,339
512,690
Revaluation surplus arising in the year
18,000
198,199
Deferred tax on revaluation of tangible assets
(5,495)
(49,550)
At the end of the year
673,844
661,339
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