Accounts filed on 31-12-2020

Accounts filed on 31-12-2020

ACRES HILL LIMITED - Company Information

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Registered number: 03294075
Acres Hill Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Acres Hill Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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 2020
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 2020
20202019
Notes££
FIXED ASSETS
Tangible assets39,870,9687,188,334
CURRENT ASSETS
Debtors531,52611,832
Cash at bank and in hand10,950134,874
42,476146,706
CREDITORS: Amounts falling due within one year6523,197273,432
NET CURRENT LIABILITIES(480,721)(126,726)
TOTAL ASSETS LESS CURRENT LIABILITIES9,390,2477,061,608
CREDITORS: Amounts falling due after more than one year74,537,1004,027,100
PROVISIONS FOR LIABILITIES AND CHARGES8701,223362,522
NET ASSETS4,151,9242,671,986
CAPITAL AND RESERVES
Called up share capital936,57036,570
Share premium account1058,12558,125
Profit and loss account4,057,2292,577,291
SHAREHOLDERS' FUNDS4,151,9242,671,986
For the year ending 31 December 2020 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 14 September 2021 and signed on their behalf by
.............................
Mrs C.E. Mant
Director
Acres Hill Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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
20202019
No.No.
Average number of employees--
Average number of employees
Acres Hill Limited
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 1 January 20202,0482,048
At 31 December 20202,0482,048
Depreciation
At 1 January 2020896896
For the year288288
At 31 December 20201,1841,184
Net Book Amounts
At 31 December 2020864864
At 31 December 20191,1521,152
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 January 20207,187,1827,187,182
Additions900,105900,105
Revaluation1,782,8171,782,817
At 31 December 20209,870,1049,870,104
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 2020, the revaluation in the year of £1,782,817 (2019: £0) was debited to the profit and loss account in accordance with FRS 102.
5. DEBTORS 20202019
££
Amounts falling due within one year
Other debtors24,8659,783
Prepayments6,6612,049
31,52611,832
Acres Hill Limited
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20202019
££
UK corporation tax32,65429,870
Directors current account136,62590,679
Other Loans321,535111,095
Other Creditors1,726-
Prepaid Income1,55012,250
Accruals29,10729,538
523,197273,432
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20202019
££
Bank loans (secured) >1yr4,537,1004,027,100
4,537,1004,027,100
The bank loans of £4,537,100 (2019 - £4,027,100) are secured by fixed charges over the investment property.
8. PROVISIONS FOR LIABILITIES 20202019
££
Deferred taxation701,223362,522
701,223362,522
9. SHARE CAPITAL 20202019
££
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 20202019
££
Share premium account58,12558,125