ANGLESEY GROUP ESTATES LIMITED
Company registration number 00920923 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
ANGLESEY GROUP ESTATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ANGLESEY GROUP ESTATES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
3,495,931
3,252,466
Current assets
Debtors
4
3,061,134
2,558,782
Cash at bank and in hand
223,000
91,507
3,284,134
2,650,289
Creditors: amounts falling due within one year
5
(79,200)
(179,000)
Net current assets
3,204,934
2,471,289
Total assets less current liabilities
6,700,865
5,723,755
Creditors: amounts falling due after more than one year
6
(3,332,000)
(2,548,762)
Net assets
3,368,865
3,174,993
Capital and reserves
Called up share capital
7
165,749
165,749
Share premium account
422,958
422,958
Revaluation reserve
2,796,893
2,553,428
Other reserves
209,173
209,173
Profit and loss reserves
(225,908)
(176,315)
Total equity
3,368,865
3,174,993
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 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.
ANGLESEY GROUP ESTATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 June 2022 and are signed on its behalf by:
Mr J C Pritchard
Director
Company Registration No. 00920923
ANGLESEY GROUP ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
Anglesey Group Estates Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Units 8-9, Handel House, Whitehouse Court, Cannock, Staffordshire, WS11 0BH.
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.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The
financial statements
present information about the company as an individual entity and not about its group
.
1.2
Going concern
The World Health Organization declared Covid-19 a global pandemic on 11 March 2020 and the UK went into lockdown on 23 March 2020. The UK entered two further lockdown periods on 5th November 2020 and 6th January 2021. Due to the nature of the Company's business activities, the impact on trading was minimal and the directors assess the Covid-19 pandemic will not affect the Company's ability to continue as a going concern.
true
1.3
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.
1.4
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.
ANGLESEY GROUP ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.5
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 balance sheet 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.
1.6
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.
1.7
Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in
profit
or
loss
immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in
profit
or
loss
depends on the nature of the hedge relationship.
A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
1.9
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
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
3
ANGLESEY GROUP ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
3
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
3,495,931
3,252,466
Investments in subsidiary companies are carried at fair value having due regard to the underlying investment assets in each company.
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2021
3,252,466
Valuation changes
243,465
At 31 December 2021
3,495,931
Carrying amount
At 31 December 2021
3,495,931
At 31 December 2020
3,252,466
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Corporation tax recoverable
15,989
15,989
Amounts owed by group undertakings
2,973,707
2,462,808
Other debtors
71,438
79,985
3,061,134
2,558,782
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
48,000
147,800
Other creditors
31,200
31,200
79,200
179,000
ANGLESEY GROUP ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
3,332,000
2,548,762
Legal charges are registered over freehold property at 31A North Street Bridgtown and 43, 45 and 49 Broad Street Bridgtown.
A fixed and floating charge is registered over the company assets.
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 25p each
662,994
662,994
165,749
165,749
8
Directors' transactions
Amounts owing from C F Pritchard at the balance sheet date amounted to £6
5
,684. There has been no movement during the year.
9
Parent company
The company is under the control of C F Pritchard and P E Pritchard by virtue of their majority shareholding in the ordinary share capital of the company.