Aim Land Limited - Accounts to registrar (filleted) - small 23.2.5

Aim Land Limited - Accounts to registrar (filleted) - small 23.2.5

AIM LAND LIMITED - Company Information

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REGISTERED NUMBER: 11182462 (England and Wales)












AIM LAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 6 MARCH 2023





Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD








AIM LAND LIMITED (REGISTERED NUMBER: 11182462)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 MARCH 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


AIM LAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 6 MARCH 2023







Directors: Mr Y A Bux
Mrs N Y Bux





Registered office: Barton Hall
Garstang Road
Broughton
PRESTON
PR3 5BT





Registered number: 11182462 (England and Wales)





Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD
Page 1
AIM LAND LIMITED (REGISTERED NUMBER: 11182462)

ABRIDGED BALANCE SHEET
6 MARCH 2023

2023 2022
Notes £    £    £    £   
Assets

Fixed assets
Tangible assets 4 518,342 535,617
Investment property 5 92,247,695 99,260,590
92,766,037 99,796,207

Current assets
Stocks 13,410,843 12,033,872
Debtors 287,670 1,104,050
Cash at bank 311,165 94,180
14,009,678 13,232,102
106,775,715 113,028,309

Capital, reserves and liabilities

Capital and reserves
Called up share capital 1 1
Retained earnings 29,517,676 29,223,155
Shareholders' funds 29,517,677 29,223,156

Provisions for liabilities 2,891,356 2,192,726

Creditors 6 74,361,732 81,602,577

Accruals and deferred income 4,950 9,850
106,775,715 113,028,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 6 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 6 March 2023 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 notes form part of these financial statements

Page 2
AIM LAND LIMITED (REGISTERED NUMBER: 11182462)

ABRIDGED BALANCE SHEET - continued
6 MARCH 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 6 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 December 2023 and were signed on its behalf by:





Mr Y A Bux - Director


The notes form part of these financial statements

Page 3
AIM LAND LIMITED (REGISTERED NUMBER: 11182462)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 MARCH 2023


1. Statutory information

Aim Land 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.

Going concern basis

The financial statements have been prepared on a going concern basis as although the company has negative reserves, the parent company has made a loan to support the company during property development.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% Reducing balance and Straight line over 4 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Page 4
AIM LAND LIMITED (REGISTERED NUMBER: 11182462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 6 MARCH 2023


2. Accounting policies - continued
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 1 (2022 - 1 ) .

4. Tangible fixed assets
Totals
£   
Cost
At 7 March 2022 635,445
Additions 74,250
At 6 March 2023 709,695
Depreciation
At 7 March 2022 99,828
Charge for year 91,525
At 6 March 2023 191,353
Net book value
At 6 March 2023 518,342
At 6 March 2022 535,617

5. Investment property
Total
£   
Fair value
At 7 March 2022 99,260,590
Additions 1,607,399
Disposals (9,800,000 )
Revaluations 1,179,706
At 6 March 2023 92,247,695
Net book value
At 6 March 2023 92,247,695
At 6 March 2022 99,260,590

Page 5
AIM LAND LIMITED (REGISTERED NUMBER: 11182462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 6 MARCH 2023


5. Investment property - continued

Fair value at 6 March 2023 is represented by:
£   
Valuation in 2019 351,926
Valuation in 2020 18,412,489
Valuation in 2021 2,601,387
Valuation in 2022 9,198,505
Valuation in 2023 1,179,706
Cost 60,503,682
92,247,695

6. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 16,502,500 19,049,833
Other creditors 49,900,000 7,199,000
66,402,500 26,248,833

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Loan notes to group undertakings 49,900,000 -

7. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 20,642,696 19,367,003
Other loans 1,011,478 11,941,873
21,654,174 31,308,876

The loans are secured by fixed and floating charges over property held by the company.

8. Related party disclosures

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 group members.

Page 6