AZF Properties Limited - Accounts to registrar (filleted) - small 23.2.5
AZF Properties Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| FOR |
| AZF PROPERTIES LIMITED |
| AZF PROPERTIES LIMITED (REGISTERED NUMBER: 11666708) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| AZF PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Atlas Chambers |
| 33 West Street |
| Brighton |
| East Sussex |
| BN1 2RE |
| AZF PROPERTIES LIMITED (REGISTERED NUMBER: 11666708) |
| BALANCE SHEET |
| 31 JULY 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings | ( |
) |
| 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. |
| AZF PROPERTIES LIMITED (REGISTERED NUMBER: 11666708) |
| BALANCE SHEET - continued |
| 31 JULY 2023 |
| 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 |
| AZF PROPERTIES LIMITED (REGISTERED NUMBER: 11666708) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 1. | STATUTORY INFORMATION |
| AZF Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable by the company in respect of rent receivable during the period. Turnover is exempt from Value Added Tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Investment property |
| Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes purchase cost and directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 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 |
| The average number of employees during the year was NIL (2022 - NIL). |
| AZF PROPERTIES LIMITED (REGISTERED NUMBER: 11666708) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2022 |
| and 31 July 2023 |
| DEPRECIATION |
| At 1 August 2022 |
| Charge for year |
| At 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2022 |
| Additions |
| Revaluations | (44,197 | ) |
| At 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| Fair value at 31 July 2023 is represented by: |
| £ |
| Valuation in 2021 | 29,490 |
| Valuation in 2022 | 125,000 |
| Valuation in 2023 | (44,197 | ) |
| Cost | 1,274,707 |
| 1,385,000 |
| Investment property was valued on an open market basis on 31 July 2023 by the directors . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| Prepayments and accrued income |
| AZF PROPERTIES LIMITED (REGISTERED NUMBER: 11666708) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other loans |
| Trade creditors |
| Tax |
| Other creditors |
| Directors' current accounts | 937,407 | 654,695 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other loans - 1-2 years | 82,573 | 571 |
| Other loans - 2-5 years |
| Other loans more 5yrs non-inst | 292,575 | - |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst | 292,575 | - |
| National Westminster Bank PLC hold fixed and floating charges over all current and future assets of the company. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 28,000 | 29,800 |
| Deferred |
| tax |
| £ |
| Balance at 1 August 2022 |
| Movement | (1,800 | ) |
| Balance at 31 July 2023 |