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Registered number: 06336231
A & C PROPERTY DEVELOPMENT LIMITED
Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 August 2025
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A & C PROPERTY DEVELOPMENT LIMITED
Company Information
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A & C PROPERTY DEVELOPMENT LIMITED
Registered number: 06336231
Balance sheet
As at 31 August 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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A & C PROPERTY DEVELOPMENT LIMITED
Registered number: 06336231
Balance sheet (continued)
As at 31 August 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 7 form part of these financial statements.
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A & C PROPERTY DEVELOPMENT LIMITED
Notes to the financial statements
For the year ended 31 August 2025
A & C Property Development Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Revenue on developed property sales is recognised when the significant risks and rewards of ownership have been transferred to the purchaser which will normally occur at handover/legal completion. Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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A & C PROPERTY DEVELOPMENT LIMITED
Notes to the financial statements
For the year ended 31 August 2025
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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Charge for the year on owned assets
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A & C PROPERTY DEVELOPMENT LIMITED
Notes to the financial statements
For the year ended 31 August 2025
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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A & C PROPERTY DEVELOPMENT LIMITED
Notes to the financial statements
For the year ended 31 August 2025
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Creditors: Amounts falling due after more than one year
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The following liabilities were secured:
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Details of security provided:
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The loan is secured on freehold property owned by the company
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The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
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Repayable other than by instalments
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Allotted, called up and fully paid
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2 (2024 -2) Ordinary shares of £1.00 each
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A & C PROPERTY DEVELOPMENT LIMITED
Notes to the financial statements
For the year ended 31 August 2025
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Related party transactions
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Included within other creditors due within one year and other loans after one year are the unsecured loans from the directors on which the aggregate balance at the yearend was £ 770,656 (2024 £ 853,305)
Loans made to the company by the directors are interest free and repayable on demand.
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