Ac Prop Limited - Accounts to registrar (filleted) - small 18.2
Ac Prop Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2022 |
| FOR |
| AC PROP LIMITED |
| AC PROP LIMITED (REGISTERED NUMBER: 09892779) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| AC PROP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 MARCH 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Old Casino |
| 28 Fourth Avenue |
| Hove |
| East Sussex |
| BN3 2PJ |
| AC PROP LIMITED (REGISTERED NUMBER: 09892779) |
| BALANCE SHEET |
| 30 MARCH 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 9 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| AC PROP LIMITED (REGISTERED NUMBER: 09892779) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| Ac Prop Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| 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 subsidiaries within the group. |
| Turnover |
| Turnover is represented by rental income. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Fixtures and fittings | - |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| AC PROP LIMITED (REGISTERED NUMBER: 09892779) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MARCH 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 31 March 2021 |
| Revaluations |
| At 30 March 2022 |
| DEPRECIATION |
| At 31 March 2021 |
| Charge for year |
| At 30 March 2022 |
| NET BOOK VALUE |
| At 30 March 2022 |
| At 30 March 2021 |
| Cost or valuation at 30 March 2022 is represented by: |
| Improvements | Fixtures |
| Freehold | to | and |
| property | property | fittings | Totals |
| £ | £ | £ | £ |
| Valuation in 2020 | 10,859 | - | - | 10,859 |
| Valuation in 2021 | 49,000 | - | - | 49,000 |
| Valuation in 2022 | 32,000 | - | - | 32,000 |
| Cost | 415,141 | 37,786 | 6,896 | 459,823 |
| 507,000 | 37,786 | 6,896 | 551,682 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Tax |
| Other creditors |
| Directors' loan accounts | 102,477 | 99,672 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Directors' loan accounts | 235,000 | 235,000 |
| AC PROP LIMITED (REGISTERED NUMBER: 09892779) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MARCH 2022 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Deferred tax |
| Other timing differences | 22,965 | 11,373 |
| Deferred |
| tax |
| £ |
| Balance at 31 March 2021 |
| Provided during year |
| Balance at 30 March 2022 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 31 March 2021 |
| Profit for the year |
| At 30 March 2022 |
| 10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| During the period, J B Campbell increased his loan to the company. As at 30 March 2022, the company owed him £102,477 (2021: £99,672) of which this balance represented the maximum amount outstanding during the period and was repayable on demand. |
| In addition to this the director made a long term long to the company of £235,000 which is not repayable in the next 12 months. |
| Both loans have been lent to the company interest free. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is J B Campbell. |
| This was by virtue of his 100% holding of the issued share capital. |