Amalgamated (Industrial Park) Limited |
Registered number: |
01907307 |
Balance Sheet |
as at 31 May 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
7,170,248 |
|
|
7,164,348 |
|
Current assets |
Debtors |
4 |
|
193,238 |
|
|
32,108 |
Cash at bank and in hand |
|
|
480,170 |
|
|
459,230 |
|
|
|
673,408 |
|
|
491,338 |
|
Creditors: amounts falling due within one year |
5 |
|
(574,950) |
|
|
(448,507) |
|
Net current assets |
|
|
|
98,458 |
|
|
42,831 |
|
Total assets less current liabilities |
|
|
|
7,268,706 |
|
|
7,207,179 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(3,665,278) |
|
|
(4,021,986) |
|
Provisions for liabilities |
|
|
|
(162,200) |
|
|
(162,200) |
|
|
Net assets |
|
|
|
3,441,228 |
|
|
3,022,993 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Revaluation reserve |
8 |
|
|
2,767,741 |
|
|
2,767,741 |
Profit and loss account |
|
|
|
673,485 |
|
|
255,250 |
|
Shareholders' funds |
|
|
|
3,441,228 |
|
|
3,022,993 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
E L Frazier |
Director |
Approved by the board on 27 February 2024 |
|
Amalgamated (Industrial Park) Limited |
Notes to the Accounts |
for the year ended 31 May 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services property rentals) and is recognised by reference to the amounts invoiced under the terms of tenants' leases. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
|
|
Plant and machinery |
over 4 years |
|
|
|
Investment property |
|
Investment properties are included at fair value. The surplus or deficit on revaluation is recognised in the statement of comprehensive income. Deferred taxation is provided on gains at the rate expected to apply if the property were to be sold. . |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, |
|
|
|
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
7 |
|
7 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Freehold investment property |
|
Plant and machinery etc |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2022 |
7,149,948 |
|
330,410 |
|
7,480,358 |
|
Additions |
- |
|
10,975 |
|
10,975 |
|
At 31 May 2023 |
7,149,948 |
|
341,385 |
|
7,491,333 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2022 |
- |
|
316,010 |
|
316,010 |
|
Charge for the year |
- |
|
5,075 |
|
5,075 |
|
At 31 May 2023 |
- |
|
321,085 |
|
321,085 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2023 |
7,149,948 |
|
20,300 |
|
7,170,248 |
|
At 31 May 2022 |
7,149,948 |
|
14,400 |
|
7,164,348 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2023 |
|
2022 |
£ |
£ |
|
Historical cost |
3,997,573 |
|
3,997,573 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
3,997,573 |
|
3,997,573 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
43,692 |
|
31,998 |
|
Other debtors |
149,546 |
|
110 |
|
|
|
|
|
|
193,238 |
|
32,108 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
319,878 |
|
255,689 |
|
Trade creditors |
67,150 |
|
101,593 |
|
Taxation and social security costs |
115,999 |
|
51,272 |
|
Other creditors |
71,923 |
|
39,953 |
|
|
|
|
|
|
574,950 |
|
448,507 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
1,547,063 |
|
1,830,753 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
2,118,215 |
|
2,191,233 |
|
|
|
|
|
|
3,665,278 |
|
4,021,986 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2023 |
|
2022 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
1,866,940 |
|
2,086,441 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured by a fixed charge over the company's land and buildings and a floating charge over its other assets. |
|
|
8 |
Revaluation reserve |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 June 2022 |
2,767,741 |
|
2,767,741 |
|
|
At 31 May 2023 |
2,767,741 |
|
2,767,741 |
|
|
|
|
|
|
|
|
|
|
9 |
Controlling party |
|
|
The company is a 100% subsidiary of Amalgamated Builders (Holdings) Limited, a company incorporated in the United Kingdom, which is also the ultimate holding company. |
|
|
10 |
Other information |
|
|
Amalgamated (Industrial Park) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Great Seabrook House |
|
Cheddington |
|
Bedfordshire |
|
LU7 9AB |