Amadeus Properties Limited - Period Ending 2024-03-31
Amadeus Properties Limited - Period Ending 2024-03-31
Registration number:
Amadeus Properties Limited
for the Year Ended 31 March 2024
Amadeus Properties Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Amadeus Properties Limited
Company Information
Directors |
A Godfrey C M Godfrey A R Godfrey C R Godfrey J S Godfrey R S Godfrey R J Godfrey J F Mowat |
Company secretary |
A Godfrey |
Registered office |
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Accountants |
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Amadeus Properties Limited
(Registration number: 00918453)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
2,454,682 |
2,286,343 |
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Shareholders' funds |
2,454,782 |
2,286,443 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Amadeus Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of properties in the period, net of value added tax. It also includes net rental income (rental income and service charge income less relevant property costs) from the company's stock properties.
The company recognises revenue from property sales on exchange of contracts. Rental and other property income is recognised in the period to which it relates.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Amadeus Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Depreciation
Depreciation is charged so as to write off the cost of assets other than land and properties under construction, less any estimated residual value, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
20% p.a. on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers in respect of property sales where exchange takes place in the accounting period. Trade debtors are recognised at the transaction price.
Amounts due from tenants are included in other debtors and are included at the invoiced value less a provision for bad debts where it is probable that the amount may not be recovered.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Stocks comprise properties held for resale the cost of which includes legal fees and disbursements, stamp duty and other amounts payable on purchase. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less sale costs; the impairment loss is recognised immediately in the profit or loss account.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.
Borrowings
Interest-bearing borrowings due after more than one year are recorded at fair value, net of transaction costs. Borrowings due within one year are included at the transaction value.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Amadeus Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of people (including directors) employed by the company in the year, was
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Disposals |
( |
( |
At 31 March 2024 |
- |
- |
Depreciation |
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At 1 April 2023 |
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Eliminated on disposal |
( |
( |
At 31 March 2024 |
- |
- |
Carrying amount |
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At 31 March 2024 |
- |
- |
Stocks |
2024 |
2023 |
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Properties held for resale |
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Debtors |
Current |
2024 |
2023 |
Other debtors |
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Amadeus Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Loans and borrowings |
Other borrowings
The company's intercompany loan with a carrying amount of £3,169,803 (2023: £3,163,879) is denominated in sterling with a nominal interest rate of 2.5%.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Amadeus Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Related party transactions |
Summary of transactions with parent
Loans from related parties
2024 |
Parent |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
Interest transactions |
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At end of period |
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2023 |
Parent |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
Interest transactions |
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At end of period |
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