Austringer Capital Limited - Accounts to registrar (filleted) - small 18.2

Austringer Capital Limited - Accounts to registrar (filleted) - small 18.2

AIM LAND LIMITED - Company Information

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REGISTERED NUMBER: 11182462 (England and Wales)












AUSTRINGER CAPITAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 6 MARCH 2021





Scott & Wilkinson LLP
Chartered Accountants
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD








AUSTRINGER CAPITAL LIMITED (REGISTERED NUMBER: 11182462)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 MARCH 2021










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


AUSTRINGER CAPITAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 6 MARCH 2021







Director: Mr Y A Bux





Registered office: Barton Hall
Garstang Road
Broughton
PRESTON
PR3 5BT





Registered number: 11182462 (England and Wales)





Accountants: Scott & Wilkinson LLP
Chartered Accountants
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD
Page 1
AUSTRINGER CAPITAL LIMITED (REGISTERED NUMBER: 11182462)

ABRIDGED BALANCE SHEET
6 MARCH 2021

2021 2020
Notes £    £    £    £   
Assets

Fixed assets
Tangible assets 4 9,516 11,289
Investment property 5 81,380,000 79,859,975
81,389,516 79,871,264

Current assets
Stocks 10,735,345 8,934,820
Debtors 182,566 469,748
Prepayments and accrued income 1,995 3,813
Cash at bank 110,439 13,918
11,030,345 9,422,299
92,419,861 89,293,563

Capital, reserves and liabilities

Capital and reserves
Called up share capital 1 1
Retained earnings 20,510,878 16,935,790
Shareholders' funds 20,510,879 16,935,791

Provisions for liabilities 255,699 -

Creditors 6 71,650,193 72,354,772

Accruals and deferred income 3,090 3,000
92,419,861 89,293,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 6 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 6 March 2021 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

Page 2
AUSTRINGER CAPITAL LIMITED (REGISTERED NUMBER: 11182462)

ABRIDGED BALANCE SHEET - continued
6 MARCH 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 6 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 March 2022 and were signed by:





Mr Y A Bux - Director


The notes form part of these financial statements

Page 3
AUSTRINGER CAPITAL LIMITED (REGISTERED NUMBER: 11182462)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 MARCH 2021


1. Statutory information

Austringer Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Going concern basis

The financial statements have been prepared on a going concern basis as although the company has negative reserves, the parent company has made a loan to support the company during property development.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Page 4
AUSTRINGER CAPITAL LIMITED (REGISTERED NUMBER: 11182462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 6 MARCH 2021


3. Employees and directors

The average number of employees during the year was 1 (2020 - NIL ) .

4. Tangible fixed assets
Totals
£   
Cost
At 7 March 2020
and 6 March 2021 14,705
Depreciation
At 7 March 2020 3,416
Charge for year 1,773
At 6 March 2021 5,189
Net book value
At 6 March 2021 9,516
At 6 March 2020 11,289

5. Investment property
Total
£   
Fair value
At 7 March 2020 79,859,975
Additions 122,607
Revaluations 2,697,793
Reclassification/transfer (1,300,375 )
At 6 March 2021 81,380,000
Net book value
At 6 March 2021 81,380,000
At 6 March 2020 79,859,975

Fair value at 6 March 2021 is represented by:
£   
Valuation in 2019 451,471
Valuation in 2020 18,412,489
Valuation in 2021 2,598,383
Cost 59,917,657
81,380,000

Page 5
AUSTRINGER CAPITAL LIMITED (REGISTERED NUMBER: 11182462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 6 MARCH 2021


6. Creditors: amounts falling due after more than one year
2021 2020
£    £   
Bank loans 7,034,500 7,029,830
Other creditors 7,199,000 -
14,233,500 7,029,830

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,500 -

7. Secured debts

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 7,070,830 7,029,830
Other loans 14,057,556 14,394,516
21,128,386 21,424,346

The loans are secured by fixed and floating charges over property held by the company.

8. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned group members.

Page 6