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Registered Number: 12636313
England and Wales

 

 

 

ASTUTE PROPERTY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 962,710    719,705 
962,710    719,705 
Current assets      
Debtors 4 1,106    27,363 
Cash at bank and in hand 132,896    64,184 
134,002    91,547 
Creditors: amount falling due within one year 5 (9,579)   (27,765)
Net current assets 124,423    63,782 
 
Total assets less current liabilities 1,087,133    783,487 
Creditors: amount falling due after more than one year 6 (1,004,245)   (718,967)
Net assets 82,888    64,520 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 82,788    64,420 
Shareholder's funds 82,888    64,520 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 October 2023 and were signed on its behalf by:


-------------------------------
Carl Hickman
Director
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General Information
Astute Property Limited is a private company, limited by shares, registered in England and Wales, registration number 12636313, registration address 25 Weymouth Drive, Houghton Le Spring, Tyne & Wear, DH4 7TQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
As with most businesses the company has been impacted by the Coronavirus (Covid-19). This has had an impact on operations and the company is taking the steps it can to protect the future of the business. Although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings Nil Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 July 2022 582,017    582,017 
Additions 154,309    154,309 
Disposals  
Revaluations 226,384    226,384 
At 30 June 2023 962,710    962,710 
Depreciation
At 01 July 2022  
Charge for year  
On disposals  
At 30 June 2023  
Net book values
Closing balance as at 30 June 2023 962,710    962,710 
Opening balance as at 01 July 2022 719,705    719,705 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 1,106    27,363 
1,106    27,363 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 3,793    3,992 
Prepaid Income 2,870    1,220 
Director 1 Current Account 751    12,001 
Director 2 Current Account 2,165    10,552 
9,579    27,765 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 155,000    155,279 
Mortgages 609,245    323,688 
Director 2 Loan Account 120,000    120,000 
Director 1 Loan Account 120,000    120,000 
1,004,245    718,967 

7.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £2,916 (2022 - £22,553).
8.

Disclosure of controlling party

For the whole of the period under review the company was under the control of Carl Hickman and Jonathan Chicken, directors of the company.
2