A & M Investments (Ruislip) Limited Filleted accounts for Companies House (small and micro)

A & M INVESTMENTS (RUISLIP) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08684847

A & M Investments (Ruislip) Limited

Filleted Unaudited Financial Statements

30 September 2021

A & M Investments (Ruislip) Limited

Statement of Financial Position

30 September 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	6		4,762,995	3,967,242

Current assets

Debtors	7	10,211	198,596
Cash at bank and in hand		155,564	128,797
		---------	---------
		165,775	327,393

Creditors: amounts falling due within one year	8	2,825,371		2,209,379
		-----------		-----------
Net current liabilities			2,659,596	1,881,986
			-----------	-----------
Total assets less current liabilities			2,103,399	2,085,256

Creditors: amounts falling due after more than one year	9		1,785,676	1,812,521

Provisions

Taxation including deferred tax	1,885	1,885
	-----------	-----------
Net assets	315,838	270,850
	-----------	-----------

Capital and reserves

Called up share capital	4	4
Revaluation reserve	41,717	41,717
Profit and loss account	274,117	229,129
	---------	---------
Shareholders funds	315,838	270,850
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

A & M Investments (Ruislip) Limited

Statement of Financial Position (continued)

30 September 2021

These financial statements were approved by the board of directors and authorised for issue on 18 May 2022 , and are signed on behalf of the board by:

A Mashru

Director

Company registration number: 08684847

A & M Investments (Ruislip) Limited

Notes to the Financial Statements

Year ended 30 September 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Zone G, Salamander Quay, Park Lane, Harefield, Middlesex UB9 6NZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents rent receivable on investment property.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% straight line

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The gain or loss on valuation is recognised in profit or loss and is subsequently transferred within equity to the revaluation reserve together with the associated deferred tax.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

4. Employees

There were no employees during the year.

5. Tax on profit

Major components of tax expense

	2021	2020
	£	£

Current tax:

UK current tax expense	9,640	14,383
	------	-------
Tax on profit	9,640	14,383
	------	-------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2020: higher than) the standard rate of corporation tax in the UK of 19 % (2020: 19 %).

	2021	2020
	£	£
Profit on ordinary activities before taxation	54,628	75,574
	-------	-------
Profit on ordinary activities by rate of tax	10,379	14,359
Effect of capital allowances and depreciation	( 739)	24
	-------	-------
Tax on profit	9,640	14,383
	-------	-------

6. Tangible assets

	Fixtures and fittings	Investment property	Total
	£	£	£
Cost
At 1 October 2020	1,634	3,967,114	3,968,748
Additions	5,362	791,861	797,223
	------	-----------	-----------
At 30 September 2021	6,996	4,758,975	4,765,971
	------	-----------	-----------
Depreciation
At 1 October 2020	1,506	–	1,506
Charge for the year	1,470	–	1,470
	------	-----------	-----------
At 30 September 2021	2,976	–	2,976
	------	-----------	-----------
Carrying amount
At 30 September 2021	4,020	4,758,975	4,762,995
	------	-----------	-----------
At 30 September 2020	128	3,967,114	3,967,242
	------	-----------	-----------

The fair value of the investment properties is measured by the directors based on the current market valuation. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The net historical cost of the investment properties was £4,715,373 (2020 - £3,923,512).

7. Debtors

	2021	2020
	£	£
Other debtors	10,211	198,596
	-------	---------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	26,100	26,100
Corporation tax	9,640	28,004
Other creditors	2,789,631	2,155,275
	-----------	-----------
	2,825,371	2,209,379
	-----------	-----------

The bank loans are secured by a fixed and floating charge over the assets of the company.

9. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	1,785,676	1,812,521
	-----------	-----------

The bank loans are secured by a fixed and floating charge over the assets of the company.

10. Related party transactions

At the year end, a balance of £1,886,470 (2020 - £1,276,364) included in other creditors was owed to the directors.