Activ Commercial Limited - Period Ending 2020-12-25

Activ Commercial Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Profit and Loss Account and Statement of Retained Earnings	4
Balance Sheet	5
Notes to the Unaudited Financial Statements	6 to 8
Detailed Profit and Loss Account	9 to 10

Activ Commercial Limited

Company Information

Director

Mr M C Clark

Registered office

4 Cyrus Way Cygnet Park Hampton Peterborough Cambridgeshire PE7 8HP

Bankers

Lloyds Bank Plc 202 High Street Lincoln Lincolnshire LN5 7LA

Accountants

TC Group 1 - 4 London Road Spalding Lincolnshire PE11 2TA

Activ Commercial Limited

Director's Report for the Period from 28 December 2019 to 25 December 2020

The director presents his report and the financial statements for the period from 28 December 2019 to 25 December 2020.

Director of the company

The director who held office during the period was as follows:

Mr M C Clark

Principal activity

The principal activity of the company is that of property letting.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 21 March 2022 and signed on its behalf by:

.........................................
Mr M C Clark
Director

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Activ Commercial Limited
for the Period Ended 25 December 2020

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the period ended 25 December 2020.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".

You have determined that the company is exempt from the statutory requirement for an audit for this accounting period. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

......................................

TC Group
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA

21 March 2022

Activ Commercial Limited

Profit and Loss Account and Statement of Retained Earnings for the Period from 28 December 2019 to 25 December 2020

	Note	2020 £	2019 £
Turnover		92,665	224,240
Administrative expenses		(61,740)	(17,971)
Operating profit		30,925	206,269
Interest payable and similar charges		(20,036)	(36,081)
Profit before tax		10,889	170,188
Taxation		(2,069)	(32,336)
Profit for the financial period		8,820	137,852
Retained earnings brought forward		106,532	1,680
Dividends paid		(36,000)	(33,000)
Retained earnings carried forward		79,352	106,532

Activ Commercial Limited

(Registration number: 05313428)
Balance Sheet as at 25 December 2020

	Note	2020 £	2019 £
Fixed assets
Investment property	4	4,525,000	4,525,000
Current assets
Debtors	5	3,613	96,998
Cash at bank and in hand		25,400	6,008
		29,013	103,006
Creditors: Amounts falling due within one year	6	(897,351)	(1,001,566)
Net current liabilities		(868,338)	(898,560)
Total assets less current liabilities		3,656,662	3,626,440
Creditors: Amounts falling due after more than one year	6	(1,020,311)	(962,909)
Provisions for liabilities		(426,150)	(426,150)
Net assets		2,210,201	2,237,381
Capital and reserves
Called up share capital		100	100
Revaluation reserve		2,130,749	2,130,749
Profit and loss account		79,352	106,532
Shareholders' funds		2,210,201	2,237,381

For the financial period ending 25 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 March 2022
 

.........................................

Mr M C Clark
Director

Activ Commercial Limited

Notes to the Unaudited Financial Statements for the Period from 28 December 2019 to 25 December 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Cyrus Way
Cygnet Park
Hampton
Peterborough
Cambridgeshire
PE7 8HP

These financial statements were authorised for issue by the director on 21 March 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Activ Commercial Limited

Notes to the Unaudited Financial Statements for the Period from 28 December 2019 to 25 December 2020

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2019 - 0).

4	Investment properties

	2020 £
At 28 December	4,525,000
At 25 December	4,525,000

There has been no valuation of investment property by an independent valuer.

Activ Commercial Limited

Notes to the Unaudited Financial Statements for the Period from 28 December 2019 to 25 December 2020

5

Debtors

	Note	2020 £	2019 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest		-	93,370
Other debtors		3,613	3,628
		3,613	96,998

6

Creditors

Creditors: amounts falling due within one year

	Note	2020 £	2019 £
Due within one year
Loans and borrowings	7	32,449	122,301
Amounts owed to group undertakings and undertakings in which the company has a participating interest		714,783	717,223
Accruals and deferred income		1,500	1,500
Other creditors		148,619	160,542
		897,351	1,001,566

Creditors: amounts falling due after more than one year

	Note	2020 £	2019 £
Due after one year
Loans and borrowings	7	1,020,311	962,909

7	Loans and borrowings

	2020 £	2019 £
Non-current loans and borrowings
Bank borrowings	1,020,311	962,909

	2020 £	2019 £
Current loans and borrowings
Bank borrowings	32,449	122,301

8	Parent and ultimate parent undertaking

The ultimate controlling party is Mr M C Clark.

Activ Commercial Limited

Detailed Profit and Loss Account for the Period from 28 December 2019 to 25 December 2020

	28 December 2019 to 25 December 2020  £	Year ended 27 December 2019  £
Turnover (analysed below)	92,665	224,240
Gross profit (%)	100%	100%
Administrative expenses
General administrative expenses (analysed below)	(61,560)	(17,730)
Finance charges (analysed below)	(180)	(241)
	(61,740)	(17,971)
Operating profit	30,925	206,269
Interest payable and similar charges (analysed below)	(20,036)	(36,081)
Profit before tax	10,889	170,188

Activ Commercial Limited

Detailed Profit and Loss Account for the Period from 28 December 2019 to 25 December 2020

2020 £

2019 £

Turnover
Sales, UK	92,665	224,240

General administrative expenses
Management charges payable	61,560	17,730

Finance charges
Bank charges	180	241

Interest payable and similar expenses
Bank loan interest payable	20,032	27,490
Other interest payable	4	8,591
	20,036	36,081