| AYSTEL TRADING LIMITED |
| Registered number: |
04427763 |
| Balance Sheet |
| as at 31 May 2018 |
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
412,773 |
|
|
441,736 |
|
| Current assets |
| Debtors |
4 |
|
4,633 |
|
|
6,179 |
| Cash at bank and in hand |
|
|
53,292 |
|
|
7,850 |
|
|
|
57,925 |
|
|
14,029 |
|
| Creditors: amounts falling due within one year |
5 |
|
(12,311) |
|
|
(172,283) |
|
| Net current assets/(liabilities) |
|
|
|
45,614 |
|
|
(158,254) |
|
| Total assets less current liabilities |
|
|
|
458,387 |
|
|
283,482 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(186,658) |
|
|
(30,000) |
|
| Provisions for liabilities |
|
|
|
(2,873) |
|
|
- |
|
| Net assets |
|
|
|
268,856 |
|
|
253,482 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Fair value reserve |
7 |
|
|
29,495 |
|
|
37,145 |
| Profit and loss account |
|
|
|
239,261 |
|
|
216,237 |
|
| Shareholders' funds |
|
|
|
268,856 |
|
|
253,482 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| C.W. Aspden |
| Director |
| Approved by the board on 15 February 2019 |
|
| AYSTEL TRADING LIMITED |
| Notes to the Accounts |
| for the year ended 31 May 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover represents the rents receivable from tenants. |
|
|
Investment properties |
|
Investment properties are revalued annually and any surplus or deficit is dealt with through the fair value reserve. No depreciation is provided in respect investment properties. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 June 2017 |
441,736 |
|
Additions |
5,760 |
|
Disposals |
(34,723) |
|
At 31 May 2018 |
412,773 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 May 2018 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2018 |
412,773 |
|
At 31 May 2017 |
441,736 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2018 |
|
2017 |
| £ |
£ |
|
Historical cost |
380,404 |
|
404,591 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
380,404 |
|
404,591 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
4,629 |
|
6,175 |
|
Other debtors |
4 |
|
4 |
|
|
|
|
|
|
4,633 |
|
6,179 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Corporation tax |
4,807 |
|
772 |
|
Other creditors |
7,504 |
|
171,511 |
|
|
|
|
|
|
12,311 |
|
172,283 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Other creditors |
186,658 |
|
30,000 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Fair value reserve |
2018 |
|
2017 |
| £ |
£ |
|
|
At 1 June 2017 |
37,145 |
|
37,145 |
|
Loss on disposal of land and buildings |
(4,777) |
|
- |
|
Deferred taxation arising on the revaluation of land and buildings |
(2,873) |
|
- |
|
|
At 31 May 2018 |
29,495 |
|
37,145 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
At the balance sheet date the company owed the directors £156,657 (2017 £171,006). Interest of £12,398 was paid to them in each year. A loan of £30,000 was owed to Liam Aspden & Co. Limited throughout the year. |
|
|
| 9 |
Controlling party |
|
|
The company is controlled by the directors. |
|
|
| 10 |
Other information |
|
|
AYSTEL TRADING LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
5, Waterview |
|
White Cross |
|
Lancaster |
|
LA1 4XQ |
