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REGISTERED NUMBER: 01998653 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

ABEL CRESCENT ESTATES LIMITED

ABEL CRESCENT ESTATES LIMITED (REGISTERED NUMBER: 01998653)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ABEL CRESCENT ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: M Marshall
J D Abel





REGISTERED OFFICE: 3 Blacklands Crescent
Forest Row
East Sussex
RH18 5NN





REGISTERED NUMBER: 01998653 (England and Wales)





ACCOUNTANTS: Charles Lamb
Chartered Accountants
3 Blacklands Crescent
Forest Row
East Sussex
RH18 5NN

ABEL CRESCENT ESTATES LIMITED (REGISTERED NUMBER: 01998653)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 140,000 135,000

CURRENT ASSETS
Debtors 5 74,200 66,512

CREDITORS
Amounts falling due within one year 6 2,248 1,745
NET CURRENT ASSETS 71,952 64,767
TOTAL ASSETS LESS CURRENT
LIABILITIES

211,952

199,767

PROVISIONS FOR LIABILITIES 26,942 19,526
NET ASSETS 185,010 180,241

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 184,810 180,041
SHAREHOLDERS' FUNDS 185,010 180,241

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 14 November 2023 and were signed on its behalf by:





J D Abel - Director


ABEL CRESCENT ESTATES LIMITED (REGISTERED NUMBER: 01998653)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Abel Crescent Estates Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is the value of rents received, net of applicable Value Added Tax.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 135,000
Revaluations 5,000
At 31 July 2023 140,000
NET BOOK VALUE
At 31 July 2023 140,000
At 31 July 2022 135,000

ABEL CRESCENT ESTATES LIMITED (REGISTERED NUMBER: 01998653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2009 72,508
Valuation in 2011 (2,000 )
Valuation in 2017 62,000
Valuation in 2020 (6,436 )
Valuation in 2021 10,000
Valuation in 2022 (25,000 )
Valuation in 2023 5,000
Cost 23,928
140,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 23,928 23,928

Investment property was valued on an open market basis on 31 July 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 74,200 66,512

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,793 1,360
Other creditors 455 385
2,248 1,745

7. RELATED PARTY DISCLOSURES

Included in debtors is a loan to Abel Holdings Limited of £74,200, which is interest free, unsecured and repayable on demand. Abel Holdings Limited is incorporated in the UK and is owned by the directors. It is a 49.5% shareholder in the company.

In 2004, the company acquired the right to receive repayment of loans of £45,000 and accrued interest thereon amounting in total to £61,552 from Abel Holdings Limited for no consideration. The loans notionally bear interest at 3% per annum over Barclays Bank Base Rate, although no provision has been made for interest receivable.