Archangel Properties ( UK ) Limited - Accounts to registrar (filleted) - small 18.2

Archangel Properties ( UK ) Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 10050830 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2021

for

Archangel Properties ( UK ) Limited

Archangel Properties ( UK ) Limited (Registered number: 10050830)






Contents of the Financial Statements
for the Year Ended 31 March 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Archangel Properties ( UK ) Limited

Company Information
for the Year Ended 31 March 2021







DIRECTOR: M A Michael





REGISTERED OFFICE: 67 Westow Street
Upper Norwood
London
SE19 3RW





REGISTERED NUMBER: 10050830 (England and Wales)





ACCOUNTANTS: Chelepis Watson Limited
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Archangel Properties ( UK ) Limited (Registered number: 10050830)

Balance Sheet
31 March 2021

31.3.21 31.3.20
Notes £    £   
FIXED ASSETS
Investment property 5 1,872,000 1,840,000

CURRENT ASSETS
Debtors 6 229 -
Cash at bank 5,728 4,987
5,957 4,987
CREDITORS
Amounts falling due within one year 7 (719,218 ) (520,502 )
NET CURRENT LIABILITIES (713,261 ) (515,515 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,158,739

1,324,485

CREDITORS
Amounts falling due after more than one
year

8

(884,970

)

(900,941

)

PROVISIONS FOR LIABILITIES 10 (34,231 ) -
NET ASSETS 239,538 423,544

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 218,148 409,043
Retained earnings 12 21,290 14,401
SHAREHOLDERS' FUNDS 239,538 423,544

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

Archangel Properties ( UK ) Limited (Registered number: 10050830)

Balance Sheet - continued
31 March 2021


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2022 and were signed by:





M A Michael - Director


Archangel Properties ( UK ) Limited (Registered number: 10050830)

Notes to the Financial Statements
for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

Archangel Properties ( UK ) Limited is a private company, limited by shares , registered in England and Wales. The company's 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

Turnover
Turnover represents the the total value of rents receivable in the year.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

Archangel Properties ( UK ) Limited (Registered number: 10050830)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2020 1,840,000
Additions 188,665
Revaluations (156,665 )
At 31 March 2021 1,872,000
NET BOOK VALUE
At 31 March 2021 1,872,000
At 31 March 2020 1,840,000

The investment properties are valued annually by the directors on an open market existing use basis.

The historical cost of the investment properties amount to £1,619,622 (2020 - £1,430,957).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Other debtors 229 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Amounts owed to group undertakings 5,000 -
Taxation and social security 6,596 3,555
Other creditors 707,622 516,947
719,218 520,502

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.21 31.3.20
£    £   
Bank loans (see note 9) 884,970 900,941

9. LOANS

An analysis of the maturity of loans is given below:

31.3.21 31.3.20
£    £   
Amounts falling due between two and five years:
Bank loans 884,970 900,941

10. PROVISIONS FOR LIABILITIES
31.3.21 31.3.20
£    £   
Deferred tax 34,231 -

Archangel Properties ( UK ) Limited (Registered number: 10050830)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during year 34,231
Balance at 31 March 2021 34,231

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.21 31.3.20
value: £    £   
100 Ordinary shares £1 100 100

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2020 14,401 409,043 423,444
Deficit for the year (184,006 ) (184,006 )
Revaluation of property 156,664 (156,664 ) -
Deferred tax 34,231 (34,231 ) -
At 31 March 2021 21,290 218,148 239,438