A&I PROPERTY GROUP LIMITED
Company Registration No. 10333022 (England and Wales)
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
PAGES FOR FILING WITH REGISTRAR
A&I PROPERTY GROUP LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 4
A&I PROPERTY GROUP LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
- 1 -
The director presents his annual report and financial statements for the year ended 31 August 2022.
Principal activities
The principal activity of the company continued to be that of digital services.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr D Flemming
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr D Flemming
Director
1 May 2023
A&I PROPERTY GROUP LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2022
31 August 2022
- 2 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
4
35,091
13,385
Cash at bank and in hand
21,310
18,455
56,401
31,840
Creditors: amounts falling due within one year
5
(5,924)
(2,700)
Net current assets
50,477
29,140
Creditors: amounts falling due after more than one year
6
(50,000)
(50,000)
Net assets/(liabilities)
477
(20,860)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
475
(20,862)
Total equity
477
(20,860)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 1 May 2023
Mr D Flemming
Director
Company Registration No. 10333022
A&I PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
- 3 -
1
Accounting policies
Company information
A&I Property Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Coach Hill Close, South Millers Dale, Chandlers Ford, SO53 1UA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and 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. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
A&I PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
35,091
13,385
5
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
2,222
Other creditors
3,702
2,700
5,924
2,700
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
50,000
50,000