Company registration number 12302469 (England and Wales)
Apple Tree House Investments Limited
Unaudited financial statements
For the year ended 31 December 2022
Apple Tree House Investments Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Apple Tree House Investments Limited
Statement of financial position
as at 31 December 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
855,718
778,072
Current assets
Cash at bank and in hand
14,789
156,898
Creditors: amounts falling due within one year
4
(302,632)
(206,731)
Net current liabilities
(287,843)
(49,833)
Total assets less current liabilities
567,875
728,239
Provisions for liabilities
(19,400)
Net assets
567,875
708,839
Capital and reserves
Called up share capital
600,000
600,000
Profit and loss reserves
(32,125)
108,839
Total equity
567,875
708,839
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have 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 by the board of directors and authorised for issue on 10 March 2023 and are signed on its behalf by:
Mr M Murphy
Director
Company Registration No. 12302469
Apple Tree House Investments Limited
Notes to the financial statements
For the year ended 31 December 2022
- 2 -
1
Accounting policies
Company information
Apple Tree House Investments Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Apple Tree House, 31b Newland Road, Droitwich, Worcestershire, England, WR9 7AG.
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 a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand
and
other short-term liquid investments with original maturities of three months or less
.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Apple Tree House Investments Limited
Notes to the financial statements (continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
income statement
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
income statement
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Taxation
2022
2021
£
£
Current tax
UK corporation tax on profits for the current period
4,321
Deferred tax
Origination and reversal of timing differences
(19,400)
7,050
Total tax (credit)/charge
(19,400)
11,371
3
Fixed asset investments
2022
2021
£
£
Other investments other than loans
855,718
778,072
Apple Tree House Investments Limited
Notes to the financial statements (continued)
For the year ended 31 December 2022
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2022
778,072
Additions
749,730
Valuation changes
(142,014)
Disposals
(530,070)
At 31 December 2022
855,718
Carrying amount
At 31 December 2022
855,718
At 31 December 2021
778,072
4
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
4,321
Other creditors
302,632
202,410
302,632
206,731
5
Secured debts
The company has provided a guarantee for a personal loan taken by the director, M Murphy. The amount outstanding at the year-end was £250,000, which is due to be repaid by January 2024.