These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Statement of Recommended Practice for Social Housing Providers 2018, the Accounting Direction for private registered providers of social housing in England 2022 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets

The financial statements contain information about Anchor Property Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements..

Turnover represents rents and service charges received in respect of social housing.

Income from operating leases is recognised on a straight line basis over the period of the lease.

Taxation for the year 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - Over the term of the lease

Equipment, fixtures & fittings - 15% on reducing balance

Motor vehicles - 25% on reducing balance

At each Statement of Financial Position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Social housing properties are carried at fair value determined annually by the directors with periodic professional valuations. Fair value is derived from current market rents and investment property yields for comparable real estate adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation has been provided on the major components of housing properties. It is the company's practice to maintain these assets in a continual state of sound repair and to make improvements thereto from time to time. Accordingly the company considers that the life of these assets and their residual values (based on prices prevailing at the time of acquisition or subsequent valuation) are such that their depreciation is insignificant.

Leasehold premises with unexpired lease terms of 50 years or less are depreciated by equal annual instalments over the remaining period of the lease. Long leasehold buildings are maintained in a state of good repair and it is considered that residual values, base on prices prevailing at the time of acquisition are such that depreciation is not significant. The departure from the requirement for all properties to be depreciated is, in the opinion of the directors, necessary to give a true and fair view

Investments in subsidiary undertakings are recognised at cost.

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors, creditors and loans from banks.