Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13550345 2022-04-01 2023-03-31 13550345 2021-08-05 2022-03-31 13550345 2023-03-31 13550345 2022-03-31 13550345 c:Director1 2022-04-01 2023-03-31 13550345 d:Buildings 2022-04-01 2023-03-31 13550345 d:Buildings 2023-03-31 13550345 d:Buildings 2022-03-31 13550345 d:LandBuildings 2023-03-31 13550345 d:LandBuildings 2022-03-31 13550345 d:CurrentFinancialInstruments 2023-03-31 13550345 d:CurrentFinancialInstruments 2022-03-31 13550345 d:Non-currentFinancialInstruments 2023-03-31 13550345 d:Non-currentFinancialInstruments 2022-03-31 13550345 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13550345 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13550345 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13550345 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 13550345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 13550345 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 13550345 d:ShareCapital 2023-03-31 13550345 d:ShareCapital 2022-03-31 13550345 d:RetainedEarningsAccumulatedLosses 2023-03-31 13550345 d:RetainedEarningsAccumulatedLosses 2022-03-31 13550345 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 13550345 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 13550345 c:FRS102 2022-04-01 2023-03-31 13550345 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13550345 c:FullAccounts 2022-04-01 2023-03-31 13550345 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 13550345









AB5 PROPERTIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
AB5 PROPERTIES LTD
REGISTERED NUMBER: 13550345

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,129,325
2,129,325

  
2,129,325
2,129,325

Current assets
  

Debtors: amounts falling due within one year
 5 
987
3,103

Cash at bank and in hand
 6 
26,477
35,484

  
27,464
38,587

Creditors: amounts falling due within one year
 7 
(17,061)
(6,051)

Net current assets
  
 
 
10,403
 
 
32,536

Total assets less current liabilities
  
2,139,728
2,161,861

Creditors: amounts falling due after more than one year
 8 
(2,090,467)
(2,148,616)

  

Net assets
  
49,261
13,245


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
49,161
13,145

  
49,261
13,245


Page 1

 
AB5 PROPERTIES LTD
REGISTERED NUMBER: 13550345
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2023.




................................................
Aunali Hasnaini
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AB5 PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number:                  13550345
Registered office address: 120 Old Church Lane
                                               Stanmore
                                               Middlesex
                                               England
                                               HA7 2RR

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
AB5 PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, SELECT OR ENTER METHOD.

Depreciation is provided on the following basis:

Freehold property
-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
AB5 PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Income statement if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
AB5 PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 April 2022
2,129,325



At 31 March 2023

2,129,325






Net book value



At 31 March 2023
2,129,325



At 31 March 2022
2,129,325




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
2,129,325
2,129,325

2,129,325
2,129,325


Page 6

 
AB5 PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
-
2,115

Prepayments and accrued income
987
988

987
3,103



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
26,477
35,484

26,477
35,484



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
9,440
-

Other creditors
5,700
1,750

Accruals and deferred income
1,921
4,301

17,061
6,051


Page 7

 
AB5 PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
551,545
610,033

Amounts owed to a related company
1,538,922
1,538,583

2,090,467
2,148,616


The following liabilities were secured:

2023
2022
£
£



Bank loan
551,545
610,033

551,545
610,033

Details of security provided:

The company's bank loan is secured over the company's freehold investment property and contains a fixed and floating charge.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Bank loans
551,545
610,033


551,545
610,033


551,545
610,033


Page 8

 
AB5 PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
26,477
35,484




11.


Related party transactions

The directors and shareholders of AB5 Properties Ltd ("AB5") are also directors and shareholders of
ABA Properties Limited ("ABA"). An amount of £1,538,922 (2022: £1,538,583) was advanced to AB5 from ABA.

 
Page 9