Addis Property LTD 11998702 false 2022-04-06 2023-04-05 2023-04-05 The principal activity of the company is Buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true true 11998702 2022-04-06 2023-04-05 11998702 2023-04-05 11998702 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 11998702 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-05 11998702 bus:SmallEntities 2022-04-06 2023-04-05 11998702 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 11998702 bus:FullAccounts 2022-04-06 2023-04-05 11998702 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 11998702 bus:RegisteredOffice 2022-04-06 2023-04-05 11998702 bus:Director1 2022-04-06 2023-04-05 11998702 bus:Director2 2022-04-06 2023-04-05 11998702 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 11998702 core:LandBuildings 2022-04-06 2023-04-05 11998702 countries:EnglandWales 2022-04-06 2023-04-05 11998702 2021-04-06 2022-04-05 11998702 2022-04-05 11998702 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-05 11998702 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-05 iso4217:GBP xbrli:pure

Registration number: 11998702

Addis Property LTD

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2023

 

Addis Property LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Addis Property LTD

Company Information

Directors

Malay Pravinchandra Shah

Mansi Shah

Registered office

The Longe Lodge
265-269 Kingston Road
London
SW19 3NW

Accountants

Tax-Link Limited
Chartered Accountants & Tax Advisors
The Long Lodge
265-269 Kingston Road
Wimbledon
London
SW19 3NW

 

Addis Property LTD

(Registration number: 11998702)
Balance Sheet as at 5 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

2,081,047

2,081,047

Current assets

 

Cash at bank and in hand

 

21,835

56,323

Creditors: Amounts falling due within one year

(94,510)

(50,194)

Net current (liabilities)/assets

 

(72,675)

6,129

Total assets less current liabilities

 

2,008,372

2,087,176

Creditors: Amounts falling due after more than one year

(1,820,501)

(1,920,501)

Net assets

 

187,871

166,675

Capital and reserves

 

Called up share capital

300

300

Share premium reserve

122,946

122,946

Retained earnings

64,625

43,429

Shareholders' funds

 

187,871

166,675

For the financial year ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 September 2023 and signed on its behalf by:
 

 

Addis Property LTD

(Registration number: 11998702)
Balance Sheet as at 5 April 2023

.........................................
Malay Pravinchandra Shah
Director

.........................................
Mansi Shah
Director

 

Addis Property LTD

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Longe Lodge
265-269 Kingston Road
London
SW19 3NW

These financial statements were authorised for issue by the Board on 8 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Addis Property LTD

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

NIL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Addis Property LTD

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).