Guildhall Apollonian Property Ltd - Accounts to registrar (filleted) - small 18.2
Guildhall Apollonian Property Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2020 |
for |
Guildhall Apollonian Property Ltd |
Guildhall Apollonian Property Ltd (Registered number: 07380656) |
Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Guildhall Apollonian Property Ltd |
Company Information |
for the Year Ended 30 April 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Eldo House |
Kempson Way |
Suffolk Business Park |
Bury St Edmunds |
Suffolk |
IP32 7AR |
Guildhall Apollonian Property Ltd (Registered number: 07380656) |
Balance Sheet |
30 April 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Guildhall Apollonian Property Ltd (Registered number: 07380656) |
Balance Sheet - continued |
30 April 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on behalf by: |
Guildhall Apollonian Property Ltd (Registered number: 07380656) |
Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
1. | STATUTORY INFORMATION |
Guildhall Apollonian Property Ltd is a |
registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the Company's accounting policies, which are described below, the directors are required to make |
judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent |
from other sources. The estimates and associated assumptions are based on historical experience and other factors that are |
considered to be relevant. Actual results may differ from these estimates. |
The estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are |
recognised in the period in which the estimate is revised if revision affects only that and future periods. |
The following are critical judgements including those involving estimations, that the directors have made in the process of |
applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the |
financial statements.. |
Investment property |
The investment property is shown at fair value. The Directors have determined fair values on a property by property basis at |
open market value based on assumptions on expected yield given the location and nature of the property comparable to |
other known sales or potential sales in the region. When considered appropriate, the directors will seek formal or informal |
valuations by land and estate agents. Should the fair value of the investment property change, it will be recognised in the |
profit or loss. |
Guildhall Apollonian Property Ltd (Registered number: 07380656) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and |
liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties. |
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future |
payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or |
receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the |
undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a |
short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business |
terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, |
the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at |
a market rate of interest for a similar debt instrument. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of |
Comprehensive Income. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's |
carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a |
financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest |
rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's |
carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if |
it were to be sold at the balance sheet date. |
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right |
to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the |
liability simultaneously. |
Taxation |
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 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 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. |
Guildhall Apollonian Property Ltd (Registered number: 07380656) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
2. | ACCOUNTING POLICIES - continued |
Impairment policy |
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding |
investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be |
more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the |
recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared |
with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated |
recoverable amount and an impairment loss is recognised in profit and loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2019 |
and 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
Investment property is held at cost this being considered the best estimation of the current fair value. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Taxation and social security |
Other creditors |
Included within other creditors is a directors' loan account. The loan is repayable on demand and no interest has been |
charged. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
Included within other creditors is a directors' loan account. The loan is repayable on demand and no interest has been |
charged. |
Guildhall Apollonian Property Ltd (Registered number: 07380656) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
7. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 45,541 | 44,511 |
Deferred |
tax |
£ |
Balance at 1 May 2019 |
Provided during year |
Balance at 30 April 2020 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | £1 | 300 | 300 |