Aftongreen Retail Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02879712 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

AFTONGREEN RETAIL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N R Briggs

R T Crow

REGISTERED OFFICE:

Carlton House

Bull Close Lane

Halifax

West Yorkshire

HX1 2EG

REGISTERED NUMBER:

02879712 (England and Wales)

ACCOUNTANTS:

Bairstow and Atkinson Chartered Accountants

Carlton House

Bull Close Lane

Halifax

West Yorkshire

HX1 2EG

FIXED ASSETS

Investment property

4

864,337

925,224

CURRENT ASSETS

Debtors

5

1,933

4,280

Cash at bank and in hand

22,432

2,907

24,365

7,187

CREDITORS

Amounts falling due within one year

6

103,960

136,158

NET CURRENT LIABILITIES

(79,595

)

(128,971

)

TOTAL ASSETS LESS CURRENT LIABILITIES

784,742

796,253

CREDITORS

Amounts falling due after more than one year

7

(30,855

)

(33,819

)

PROVISIONS FOR LIABILITIES

(74,840

)

(83,912

)

NET ASSETS

679,047

678,522

CAPITAL AND RESERVES

Called up share capital

9

2

2

Non-distributable profit

319,053

357,729

Retained earnings

359,992

320,791

SHAREHOLDERS' FUNDS

679,047

678,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 14 April 2020 and were signed on its behalf by:

N R Briggs - Director

1.	STATUTORY INFORMATION

Aftongreen Retail 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2019

925,224

Additions

1,551

Disposals

(66,990

)

Revaluations

4,552

At 31 December 2019

864,337

NET BOOK VALUE

At 31 December 2019

864,337

At 31 December 2018

925,224

Fair value at 31 December 2019 is represented by:

£

Valuation in 2003

182,027

Valuation in 2014

184,841

Valuation in 2015

12,000

Valuation in 2016

130,000

Valuation in 2017

(89,901

)

Valuation in 2018

22,674

Valuation in 2019

(47,748

)

Cost

470,444

864,337

If investment property had not been revalued it would have been included at the following historical cost:

31.12.19

31.12.18

£

£

Cost

470,444

483,583

Investment property was valued on an open market basis on 31 December 2018 by using Land Registry data .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

-

2,400

Prepayments

1,933

1,880

1,933

4,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

4,776

9,112

Trade creditors

433

-

Tax

7,921

4,529

Social security and other taxes

-

353

VAT

272

120

Other creditors

2,630

2,630

Directors' current accounts

216

421

Directors' loan accounts

83,989

113,217

Accrued expenses

3,723

5,776

103,960

136,158

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans - 1-2 years

4,776

4,743

Bank loans - 2-5 years

14,329

14,229

Bank loans more 5 yr by instal

11,750

14,847

30,855

33,819

31.12.19

31.12.18

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

11,750

14,847

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.19

31.12.18

£

£

Bank overdraft

-

4,369

Bank loans

35,631

38,562

Director's loan account

83,989

113,217

119,620

156,148

The bank loan and overdraft are secured on five of the investment properties. There is also a debenture over the

assets of the company.

The director's loan is secured on two of the investment properties.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

2

2

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2019 and

31 December 2018:

31.12.19

31.12.18

£

£

N R Briggs

Balance outstanding at start of year

(421

)

195

Amounts advanced

(216

)

4,800

Amounts repaid

421

(5,416

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(216

)

(421

)

The company charges interest on overdrawn directors' loan accounts at the official interest rate. The loans are

repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is N R Briggs.