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REGISTERED NUMBER: 12422970 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Abbassi Property Ltd

Abbassi Property Ltd (Registered number: 12422970)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Abbassi Property Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Miss H M Abbassi
Miss E L Abbassi





REGISTERED OFFICE: Aspen House
The Old Nurseries
Station Lane
Lapworth
Warwickshire
B94 6JJ





REGISTERED NUMBER: 12422970 (England and Wales)





ACCOUNTANTS: Dalton Pardoe Limited
Chartered Accountants
794 High Street
Kingswinford
West Midlands
DY6 8BQ

Abbassi Property Ltd (Registered number: 12422970)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 312,954 312,954

CURRENT ASSETS
Cash at bank and in hand 415 192

CREDITORS
Amounts falling due within one year 5 116,653 111,663
NET CURRENT LIABILITIES (116,238 ) (111,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,716

201,483

CREDITORS
Amounts falling due after more than one year 6 187,354 195,712
NET ASSETS 9,362 5,771

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 9,360 5,769
SHAREHOLDERS' FUNDS 9,362 5,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Abbassi Property Ltd (Registered number: 12422970)

Balance Sheet - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2023 and were signed on its behalf by:





Miss H M Abbassi - Director


Abbassi Property Ltd (Registered number: 12422970)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Abbassi Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Abbassi Property Ltd (Registered number: 12422970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 312,954
NET BOOK VALUE
At 31 January 2023 312,954
At 31 January 2022 312,954

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 15,637 15,637
Amounts owed to associates 83,859 81,679
Tax 1,591 749
VAT 753 768
Directors' current accounts 12,996 12,101
Accrued expenses 1,817 729
116,653 111,663

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans more 5 yr by instal 187,354 195,712

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 187,354 195,712

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 202,991 211,349

Bank loans are secured over the company's investment property.

Abbassi Property Ltd (Registered number: 12422970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Retained
earnings
£   

At 1 February 2022 5,769
Profit for the year 3,591
At 31 January 2023 9,360

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the two directors who each own 50% of the shares.