Apley Residential Limited Filleted accounts for Companies House (small and micro)

Apley Residential Limited Filleted accounts for Companies House (small and micro)

APLEY RESIDENTIAL LIMITED - Company Information

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0 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 172,153 172,153 172,153 xbrli:pure xbrli:shares iso4217:GBP 13882555 2022-06-01 2023-05-31 13882555 2023-05-31 13882555 2022-05-31 13882555 bus:Director1 2022-06-01 2023-05-31 13882555 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 13882555 core:AfterOneYear 2023-05-31 13882555 core:WithinOneYear 2023-05-31 13882555 core:ShareCapital 2023-05-31 13882555 core:ShareCapital 2022-05-31 13882555 core:RetainedEarningsAccumulatedLosses 2023-05-31 13882555 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 13882555 bus:SmallEntities 2022-06-01 2023-05-31 13882555 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 13882555 bus:FullAccounts 2022-06-01 2023-05-31 13882555 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 13882555 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 13882555
Apley Residential Limited
Filleted Unaudited Financial Statements
31 May 2023
Apley Residential Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
172,153
–
Current assets
Debtors
5
669
2
Cash at bank and in hand
3,804
–
-------
----
4,473
2
Creditors: amounts falling due within one year
6
60,103
–
--------
----
Net current (liabilities)/assets
( 55,630)
2
---------
----
Total assets less current liabilities
116,523
2
Creditors: amounts falling due after more than one year
7
123,744
–
---------
----
Net (liabilities)/assets
( 7,221)
2
---------
----
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 7,223)
–
-------
----
Shareholders (deficit)/funds
( 7,221)
2
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Apley Residential Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 20 February 2024 , and are signed on behalf of the board by:
Mr A P Johnson
Director
Company registration number: 13882555
Apley Residential Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The company recognises revenue on an accruals basis, when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company. Revenue comprises rental income arising from residential property, and which is recognised in the profit and loss account for at the start of the month it arises.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Investment Property
£
Cost
At 1 June 2022
–
Additions
172,153
---------
At 31 May 2023
172,153
---------
Depreciation
At 1 June 2022 and 31 May 2023
–
---------
Carrying amount
At 31 May 2023
172,153
---------
At 31 May 2022
–
---------
Investment property is valued on an opening market existing use basis. In the opinion of the directors there were no changes to the value of the property during the year.
5. Debtors
2023
2022
£
£
Other debtors
669
2
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
60,103
–
--------
----
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
123,744
–
---------
----
Creditors falling due after more than one year includes the following amounts on which security has been given by the company:
2023
2022
£
£
Bank loan
123,744
8. Directors' advances, credits and guarantees
The director received no advances during the year.