Acton Grange Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02192029 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

ACTON GRANGE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms R Wheeler

D J Wheeler

REGISTERED OFFICE:

Kenilworth Lodge

Leamington Road

Kenilworth

Warwickshire

CV8 2AA

REGISTERED NUMBER:

02192029 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

Chartered Accountants

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

508,264

508,264

Investment property

6

1,625,000

1,567,000

2,133,264

2,075,264

CURRENT ASSETS

Debtors

7

750,000

913,405

Cash at bank

176,385

41,148

926,385

954,553

CREDITORS

Amounts falling due within one year

8

113,855

118,721

NET CURRENT ASSETS

812,530

835,832

TOTAL ASSETS LESS CURRENT LIABILITIES

2,945,794

2,911,096

CREDITORS

Amounts falling due after more than one year

9

(937,389

)

(1,398,348

)

PROVISIONS FOR LIABILITIES

(44,454

)

(42,000

)

NET ASSETS

1,963,951

1,470,748

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Revaluation reserve

11

941,396

941,396

Retained earnings

972,555

479,352

SHAREHOLDERS' FUNDS

1,963,951

1,470,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 18 January 2021 and were signed on its behalf by:

D J Wheeler - Director

Ms R Wheeler - Director

1.	STATUTORY INFORMATION

Acton Grange Properties 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

Investment properties

In accordance with Sections 5.14 to 5.18 of the Financial Reporting Standard for Smaller Entities, investment properties are included in the balance sheet at their open market value. Any surplus or deficit arising on revaluation is taken to the investment revaluation reserve. Any deficit arising in excess of the revaluation reserve is taken to the profit and loss account.

Foreign currencies

All foreign currency assets and liabilities of the company are translated into sterling at the rate ruling at the balance sheet date. Any exchange differences arising are dealt with through the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

and 31 March 2020

249

DEPRECIATION

At 1 April 2019

and 31 March 2020

249

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	FIXED ASSET INVESTMENTS

Interest

in

Other

associate

investments

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

113,070

395,194

508,264

NET BOOK VALUE

At 31 March 2020

113,070

395,194

508,264

At 31 March 2019

113,070

395,194

508,264

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

1,567,000

Revaluations

58,000

At 31 March 2020

1,625,000

NET BOOK VALUE

At 31 March 2020

1,625,000

At 31 March 2019

1,567,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2000

527,753

Valuation in 2010

325,000

Valuation in 2011

63,643

Valuation in 2012

250,000

Valuation in 2014

250,000

Valuation in 2015

(465,000

)

Valuation in 2017

32,000

Valuation in 2020

58,000

Cost

583,604

1,625,000

If investment properties had not been revalued they would have been included at the following historical cost:

2020

2019

£

£

Cost

583,604

583,604

Investment properties were valued on an open market basis basis on 31 March 2020 by the directors. .

7.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Amounts owed by subsidiary

undertakings

750,000

913,405

750,000

913,405

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

69,456

69,456

Tax

12,080

5,429

Directors' current accounts

6,181

7,981

Accrued expenses

26,138

35,855

113,855

118,721

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Directors Loan Account

(68,392

)

308,817

Bank loans - 1-2 years

69,456

69,456

Bank loans - 2-5 years

208,368

208,368

Bank loans more 5 yr by instal

219,790

265,335

Other creditors

508,167

546,372

937,389

1,398,348

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

219,790

265,335

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

567,070

612,615

11.

RESERVES

Revaluation

reserve

£

At 1 April 2019

and 31 March 2020

941,396