All Faiths Remembrance Parks Limited FILLETED ACCOUNTS COVER
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Company No. 10470014
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All Faiths Remembrance Parks Limited DIRECTORS REPORT REGISTRAR
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The Directors present their report and the accounts for the year ended 30 November 2019.
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Principal activities
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Directors
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The Directors who served at any time during the year were as follows:
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D.S. Gallwey
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N.J. Gerard
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Signed on behalf of the board
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N.J. Gerard
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Director
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20 April 2020
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All Faiths Remembrance Parks Limited BALANCE SHEET REGISTRAR
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at
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Company No.
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Notes
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2019
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2018
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£
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£
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Fixed assets
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Tangible assets
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4
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Current assets
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Debtors
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5
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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6
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(
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(
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Net current liabilities
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(
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(
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Total assets less current liabilities
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Net assets
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Capital and reserves
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Called up share capital
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Share premium account
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7
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Profit and loss account
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7
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(
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(
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Total equity
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 20 April 2020
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And signed on its behalf by:
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N.J. Gerard
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Director
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All Faiths Remembrance Parks Limited NOTES TO THE ACCOUNTS REGISTRAR
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for the year ended 30 November 2019
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1
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Accounting policies
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General information
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The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
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The following principal accounting policies have been applied in the preparation of these financial statements. These policies have been consistently applied to all years presented unless otherwise stated.
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Basis of preparation
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The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company accounting policies.
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Turnover
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Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
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Taxation
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. |
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Tangible fixed assets and depreciation
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. |
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Freehold buildings
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Plant and machinery
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Motor vehicles
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Furniture, fittings and equipment
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Trade and other debtors
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Trade and other creditors
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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Financial instruments
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Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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Pensions
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2
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Judgements in applying accounting policies and key sources of estimation uncertainty
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In preparing these financial statements, the directors have had to make the following judgements:
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Tangible Fixed assets (see note 4)
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Tangible fixed assets are depreciated over their useful lives taking into account residual values, where
appropriate. the actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. |
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3
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Employees
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2019
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2018
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Number
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Number
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The average number of persons employed during the year :
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4
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Tangible fixed assets
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Land and buildings
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Plant and machinery
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Motor vehicles
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Fixtures, fittings and equipment
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Total
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£
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£
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£
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£
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£
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Cost or revaluation
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At 1 December 2018
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Additions
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At 30 November 2019
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Depreciation
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At 1 December 2018
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Charge for the year
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At 30 November 2019
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Net book values
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At 30 November 2019
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At 30 November 2018
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5
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Debtors
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2019
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2018
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£
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£
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Trade debtors
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VAT recoverable
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Other debtors
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Prepayments and accrued income
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6
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Creditors:
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amounts falling due within one year
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2019
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2018
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£
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£
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Trade creditors
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Loans from directors
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Other creditors
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Accruals and deferred income
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7
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Reserves
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8
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Share capital
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The company has 372,767 Ordinary £0.01 shares and 5,360,700 Ordinary A £0.01 shares in issue, all of which are paid up at par, except 90,000 Ordinary £0.01 shares which remain unpaid and are represented within other debtors.
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9
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Related party disclosures
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Controlling party
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Immediate controlling party
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10
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Additional information
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Its registered number is:
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Its registered office is:
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