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Registered number: 10084642
ASSURED PROPERTY FINANCE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
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ASSURED PROPERTY FINANCE LIMITED
COMPANY INFORMATION
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1st Floor, Kirkdale House
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ASSURED PROPERTY FINANCE LIMITED
CONTENTS
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Statement of financial position
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Statement of changes in equity
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Notes to the financial statements
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ASSURED PROPERTY FINANCE LIMITED
REGISTERED NUMBER: 10084642
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2021
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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ASSURED PROPERTY FINANCE LIMITED
REGISTERED NUMBER: 10084642
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2021
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 March 2022.
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C Spires
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ASSURED PROPERTY FINANCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2021
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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ASSURED PROPERTY FINANCE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2020
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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ASSURED PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2021
Assured Property Finance Limited is a limited company domiciled and incorporated in England and Wales. The registered office is First floor Kirkdale House, Kirkdale Road, Leytonstone, London, E11 1HP.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are roudned to the nearest pound.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of fees and interest receivable.
Loans are stated as the amount receivable less provisions. The impairment policy is based on the likelihood of any loan defaulting and the estimated loss on such a default. Specific provisions are made when the directors consider that the recoverability of the loan is in part or in whole doubtful. Impairment provisions are charged to the profit and loss account.
The tax expense represents the tax currently payable.
Current tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Cash and cash equivalents
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Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
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ASSURED PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2021
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Basic financial instruments are measured at cost. The Company has no financial instruments measured at fair value or classified as a financial instrument under FRS 102.
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Investments in subsidiary companies
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Cash and cash equivalents
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ASSURED PROPERTY FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2021
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Creditors: Amounts falling due within one year
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Loans of £6,214,400 (2020: £951,000) are secured by a fixed and floating charge over the Company's assets.
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Authorised, allotted, called up and fully paid
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100 (2020 - 100) Ordinary shares of £1.00 each
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Related party transactions
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At the year end the Company was owed £548,072 (2020: Nil) by a company in which H T Smith is a director.
At the year end the Company owed £4,112,239 (2020: £3,521,971) to a company in which H T Smith is a director.
The Company is exempt from disclosing related party transactions with companies that are wholly owned
within the Group.
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