Aldwych Homes Limited - Accounts to registrar (filleted) - small 18.2

Aldwych Homes Limited - Accounts to registrar (filleted) - small 18.2

ALDWYCH HOMES LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v21.1.6.35 03171963 director 1.7.19 30.6.20 30.6.20 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure031719632019-06-30031719632020-06-30031719632019-07-012020-06-30031719632018-06-30031719632018-07-012019-06-30031719632019-06-3003171963ns16:EnglandWales2019-07-012020-06-3003171963ns15:PoundSterling2019-07-012020-06-3003171963ns11:Director12019-07-012020-06-3003171963ns11:PrivateLimitedCompanyLtd2019-07-012020-06-3003171963ns11:SmallEntities2019-07-012020-06-3003171963ns11:AuditExempt-NoAccountantsReport2019-07-012020-06-3003171963ns11:SmallCompaniesRegimeForDirectorsReport2019-07-012020-06-3003171963ns11:SmallCompaniesRegimeForAccounts2019-07-012020-06-3003171963ns11:FullAccounts2019-07-012020-06-3003171963ns11:RegisteredOffice2019-07-012020-06-3003171963ns6:CurrentFinancialInstruments2020-06-3003171963ns6:CurrentFinancialInstruments2019-06-3003171963ns6:Non-currentFinancialInstruments2020-06-3003171963ns6:Non-currentFinancialInstruments2019-06-3003171963ns6:ShareCapital2020-06-3003171963ns6:ShareCapital2019-06-3003171963ns6:FurtherSpecificReserve1ComponentTotalEquity2020-06-3003171963ns6:FurtherSpecificReserve1ComponentTotalEquity2019-06-3003171963ns6:RetainedEarningsAccumulatedLosses2020-06-3003171963ns6:RetainedEarningsAccumulatedLosses2019-06-3003171963ns6:FreeholdInvestmentProperty2019-07-012020-06-3003171963ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-06-3003171963ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-06-3003171963ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2020-06-3003171963ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2019-06-3003171963ns6:Secured2020-06-3003171963ns6:Secured2019-06-30
REGISTERED NUMBER: 03171963 (England and Wales)















ALDWYCH HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020





DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN








ALDWYCH HOMES LIMITED (REGISTERED NUMBER: 03171963)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ALDWYCH HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2020







DIRECTOR: D Feltham





REGISTERED OFFICE: 20 Aldwych Avenue
Rusholme
Manchester
M14 5NL





REGISTERED NUMBER: 03171963 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN
1
ALDWYCH HOMES LIMITED (REGISTERED NUMBER: 03171963)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2020

2020 2019
Notes £    £   
FIXED ASSETS
Investment property 4 955,000 955,000

CURRENT ASSETS
Debtors 5 792,767 775,168
Cash at bank 2,931 3,247
795,698 778,415
CREDITORS
Amounts falling due within one year 6 (489,834 ) (483,363 )
NET CURRENT ASSETS 305,864 295,052
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,260,864
1,250,052

CREDITORS
Amounts falling due after more than one
year
7
(759,000
)
(759,000
)

PROVISIONS FOR LIABILITIES - (6,301 )
NET ASSETS 501,864 484,751

CAPITAL AND RESERVES
Called up share capital 4 4
Other reserves 132,723 126,424
Retained earnings 369,137 358,323
SHAREHOLDERS' FUNDS 501,864 484,751

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

2 continued...
ALDWYCH HOMES LIMITED (REGISTERED NUMBER: 03171963)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2020


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 director and authorised for issue on 24 June 2021 and were signed by:





D Feltham - Director


The notes form part of these financial statements

3
ALDWYCH HOMES LIMITED (REGISTERED NUMBER: 03171963)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020


1. STATUTORY INFORMATION

Aldwych Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03171963 and its registered office address is 20 Aldwych Avenue, Rusholme, Manchester, M14 5NL.

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.

The director has considered the impact of the global Covid-19 pandemic on the company and recognise that the future cannot be predicted with any certainty. Procedures have been introduced to ensure that operations are conducted in accordance with official government advice as the company continues to trade. The director will endeavour to monitor and control costs as necessary and any available government backed support will be obtained as required.

The director has considered the business risks and believe that the company is well placed to manage these risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements.

Critical judgements and estimates
In the application of the companies accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from those estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the value of investment property is considered to be a key judgement.

Revenue
Revenue comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as those services are provided to the occupants of the properties.

Investment properties
Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.


4 continued...
ALDWYCH HOMES LIMITED (REGISTERED NUMBER: 03171963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2020


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2019
and 30 June 2020 955,000
NET BOOK VALUE
At 30 June 2020 955,000
At 30 June 2019 955,000

Fair value at 30 June 2020 is represented by:
£   
Valuation in 2011 (8,986 )
Valuation in 2012 51,709
Valuation in 2016 90,000
Cost 822,277
955,000

Investment properties were valued by Bilfinger GVA, property consultant, in September 2016.

The director valued the properties as at 30 June 2020 at the same carrying value.

5 continued...
ALDWYCH HOMES LIMITED (REGISTERED NUMBER: 03171963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2020


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 792,767 775,168

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 9,592 12,121
Taxation and social security 6,420 6,420
Other creditors 473,822 464,822
489,834 483,363

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans 759,000 759,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans payable after 5 years 759,000 759,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Bank loans 759,000 759,000

There is a fixed charge on the company's properties.

9. RELATED PARTY DISCLOSURES

Included within other creditors are amounts totalling £440,132 (2019 : £431,132) due to related companies.

Included within other debtors are amounts totalling £559,255 (2019 : £541,656) due from related companies.

Included within trade creditors are amounts totalling £9,592 (2019 : £12,121) due to related companies.

6