Accounts filed on 31-12-2021

Accounts filed on 31-12-2021

ACRES HILL LIMITED - Company Information

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Registered number: 03294075
Acres Hill Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Acres Hill Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
DIRECTORS
Mrs C.E. Mant
Mr J.D. Mant
SECRETARY
Miss N. Claydon
REGISTERED OFFICE
The Lodge
Park Road
Shepton Mallet
Somerset
BA4 5BS
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 03294075
Acres Hill Limited
ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2021
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Acres Hill Limited
BALANCE SHEET AT 31 December 2021
20212020
Notes££
FIXED ASSETS
Tangible assets310,356,8779,870,968
CURRENT ASSETS
Debtors559,25731,526
Cash at bank and in hand250,77910,950
310,03642,476
CREDITORS: Amounts falling due within one year6504,984523,197
NET CURRENT LIABILITIES(194,948)(480,721)
TOTAL ASSETS LESS CURRENT LIABILITIES10,161,9299,390,247
CREDITORS: Amounts falling due after more than one year75,362,1004,537,100
PROVISIONS FOR LIABILITIES AND CHARGES8692,530701,223
NET ASSETS4,107,2994,151,924
CAPITAL AND RESERVES
Called up share capital936,57036,570
Share premium account1058,12558,125
Profit and loss account4,012,6044,057,229
SHAREHOLDERS' FUNDS4,107,2994,151,924
For the year ending 31 December 2021 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 29 September 2022 and signed on their behalf by
.............................
Mrs C.E. Mant
Director
Acres Hill Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
1c. Investment Properties
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
2. EMPLOYEES
20212020
No.No.
Average number of employees--
Average number of employees
Acres Hill Limited
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 1 January 20212,0482,048
At 31 December 20212,0482,048
Depreciation
At 1 January 20211,1841,184
For the year216216
At 31 December 20211,4001,400
Net Book Amounts
At 31 December 2021648648
At 31 December 2020864864
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 January 20219,870,1049,870,104
Additions532,057532,057
Revaluation(45,932)(45,932)
At 31 December 202110,356,22910,356,229
The fair value of the investment property is comprised of freehold and long leasehold investment properties in the Clifton, Redland, Cotham and Easton areas of Bristol. The directors having considered the current economic climate and its effect on property prices, have valued the property at the balance sheet date on an untenanted basis and the properties are shown at this fair value.
During the year ended 31 December 2021, the fall in valuation in the year of £45,932 (2020: £1,782,817) was debited to the profit and loss account in accordance with FRS 102.
5. DEBTORS 20212020
££
Amounts falling due within one year
Other debtors51,51124,865
Prepayments7,7466,661
59,25731,526
Acres Hill Limited
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20212020
££
UK corporation tax23,72232,654
Directors current account28,169136,625
Other Loans422,083321,535
Other Creditors13,5231,726
Prepaid Income-1,550
Accruals17,48729,107
504,984523,197
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20212020
££
Bank loans (secured) >1yr5,362,1004,537,100
5,362,1004,537,100
The bank loans of £5,362,100 (2020 - £4,537,100) are secured by fixed charges over the investment property.
8. PROVISIONS FOR LIABILITIES 20212020
££
Deferred taxation692,530701,223
692,530701,223
9. SHARE CAPITAL 20212020
££
Allotted, issued and fully paid:
32000 Ordinary shares of £1 each3200032000
4570 Class B shares of £1 each45704570
36,57036,570
Acres Hill Limited
10. SHARE PREMIUM ACCOUNT 20212020
££
Share premium account58,12558,125
11. RELATED PARTY TRANSACTIONS
At the balance sheet date the director, Mrs C.E. Mant, was owed £28,169 (2020:£136,625) by the company. The loan was unsecured, interest free and there were no fixed repayment terms.
12. RETAINED EARNINGS BREAKDOWN
Included in retained earnings is £3,605,241 (2020 - £3,642,480) of profits which are not available for distribution as they are unrealised.