APDGW Properties Limited Accounts

APDGW PROPERTIES LIMITED - Company Information






APDGW Properties Limited

	Company No. 11973397
		Information for Filing with The Registrar
		31 August 2020

The Director presents his report and the accounts for the period ended 31 August 2020.

Principal activities
The principal activity of the company during the period under review was managment of property .




Director

The Director who served at any time during the period was as follows:

Alex Wilkinson





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

Alex Wilkinson
Director
29 December 2020

at	31 August 2020
Company No.		11973397	Notes	2020
				£
Fixed assets


	Investment property		4	136,968

				136,968
Current assets

	Debtors		5	830

	Cash at bank and in hand			2,200
				3,030
Creditors: Amount falling due within one year			6	(45,311)
Net current liabilities				(42,281)
Total assets less current liabilities				94,687
Creditors: Amounts falling due after more than one year			7	(93,078)



Net assets				1,609

Capital and reserves
	Called up share capital			1



	Profit and loss account		10	1,608

Total equity				1,609



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the period ended 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 29 December 2020
And signed on its behalf by:
Alex Wilkinson
Director
29 December 2020

for the period ended 31 August 2020

General information

Its registered number is: 11973397

Its registered office is:

2 Woodward Street

Nottingham

NG2 2LB

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. The March 2018 edition of FRS 102 includes amendments arising from the Financial Reporting Council's triennial review of the standard. There is no material effect on the amounts recognised in these financial statements as a result of early adopting these amendments.

Going concern

The financial statments have been prepared on the going concern basis.

Accounting policies

Turnover

Turnover is the fair value of consideration receivable.

Turnover represents rent receivable for the period.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:

(a) The contractual rights to the cash flows from the asset expire or are settled;

(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or

(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.

Effects of the COVID-19 pandemic on the company's financial statements

The directors have carefully considered the potential impact of the COVID-19 pandemic on the finances of the company. Having reviewed the activities of the company and its assets and liabilities the directors do not consider that there is no reason to make any adjustment to the assets and liabilities of the company as shown in its financial statements for the year ended 31 August 2020.

The directors do not consider that the pandemic causes a serious threat to the ability of the company to continue as a going concern for the foreseeable future.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2020
			Number
		The average number of persons employed during the period :	1

Investment property

Freehold Investment Property

Valuation

Additions

136,968

At 31 August 2020

136,968

Freehold Investment Property

The freehold investment property was acquired on 16 August 2019. The property was revalued on 31 August 2020 by the director.

5	Debtors
			2020
			£







		Prepayments and accrued income	830
			830

6	Creditors:
		amounts falling due within one year
			2020
			£

		Bank loans and overdrafts	1,473




		Corporation tax	377

		Loans from directors	332
		Other creditors	42,649
		Accruals and deferred income	480
			45,311

		The mortgage loan is secured by a charge over the freehold property owned by the company

7	Creditors:
		amounts falling due after more than one year
			2020
			£

		Bank loans and overdrafts	93,078






			93,078

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	87,188

			87,188

8	Creditors: secured liabilities
			2020
			£
		The aggregate amount of secured liabilities included within creditors	94,550

Related party transactions

The director is also a director of Alex Wilkinson Media Limited.

At 31 August 2020 the company owed £42,649 to Alex Wilkinson Media Limited in respect of a loan.

The loan is unsecured, free of interest and is repayable on demand.

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.