Amal Estate Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11382031 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

AMAL ESTATE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A.A. Mohamed

B P Madabhushi

REGISTERED OFFICE:

1 High Street

London

Colliers Wood

SW19 2JE

REGISTERED NUMBER:

11382031 (England and Wales)

ACCOUNTANTS:

Numera Partners LLP

4th Floor

Charles House

108-110 Finchley Road

London

NW3 5JJ

FIXED ASSETS

Tangible assets

4

7,740,000

7,740,000

CURRENT ASSETS

Debtors

5

85,274

159,104

Cash at bank and in hand

495,487

198,876

580,761

357,980

CREDITORS

Amounts falling due within one year

6

5,174,134

812,854

NET CURRENT LIABILITIES

(4,593,373

)

(454,874

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,146,627

7,285,126

CREDITORS

Amounts falling due after more than one year

7

(2,578,807

)

(6,706,932

)

PROVISIONS FOR LIABILITIES

(106,398

)

(106,398

)

NET ASSETS

461,422

471,796

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

461,421

471,795

461,422

471,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2021 and were signed on its behalf by:

A.A. Mohamed - Director

1.	STATUTORY INFORMATION

Amal Estate 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.

Tangible fixed assets

The company adopts the group policy with regards to investment property as follows:

Investment Properties

Investment properties are included in the balance sheet at their cost in accordance with the Provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Ireland" and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

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.

Financial assets

Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value, net of transactions costs and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including loans from group companies are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company, therefore continues to adopt the going concern policy in preparing its financial statements.

Related parties

The company has taken advantage of FRS 102, Section 1AC 35, for the disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member. Amounts owed to and from group companies are therefore shown in aggregate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2020

and 31 March 2021

7,740,000

NET BOOK VALUE

At 31 March 2021

7,740,000

At 31 March 2020

7,740,000

Cost or valuation at 31 March 2021 is represented by:

Land and

buildings

£

Valuation in 2020

540,000

Cost

7,200,000

7,740,000

Properties to the value of £7,740,000 are included at open market value as valued by the directors at the balance sheet date.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other debtors

85,274

159,104

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

4,272,000

-

Amounts owed to group undertakings

791,448

780,848

Taxation and social security

16,094

9,214

Other creditors

94,592

22,792

5,174,134

812,854

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

-

4,272,000

Other creditors

2,578,807

2,434,932

2,578,807

6,706,932

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

4,272,000

4,272,000

Other creditors

2,578,807

2,434,932

6,850,807

6,706,932

The bank loans and discounted bonds are secured by fixed charge over the freehold investment properties and a negative pledge over the assets of the company.

9.	RELATED PARTY DISCLOSURES

Included in creditors is an amount of £3,215,780 (2020: £3,370,255) owed to group companies.