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REGISTERED NUMBER: 10764603 (England and Wales)
















Apartmental Ltd

Unaudited Financial Statements

for the Year Ended

31 May 2023






Apartmental Ltd (Registered number: 10764603)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Apartmental Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: C Marchbank-Caunce
Mrs C J Marchbank-Caunce





REGISTERED OFFICE: 5 Clarendon Place
Leamington Spa
Warwks
CV32 5QL





REGISTERED NUMBER: 10764603 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

Apartmental Ltd (Registered number: 10764603)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 375 499
Investment property 5 1,200,000 1,200,000
1,200,375 1,200,499

CURRENT ASSETS
Debtors 6 1,323 1,190
Cash at bank 6,202 5,563
7,525 6,753
CREDITORS
Amounts falling due within one year 7 36,977 35,494
NET CURRENT LIABILITIES (29,452 ) (28,741 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,170,923

1,171,758

CREDITORS
Amounts falling due after more than one
year

8

(739,445

)

(758,807

)

PROVISIONS FOR LIABILITIES (92,235 ) (92,259 )
NET ASSETS 339,243 320,692

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 276,494 276,494
Retained earnings 10 62,748 44,197
SHAREHOLDERS' FUNDS 339,243 320,692

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

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

Apartmental Ltd (Registered number: 10764603)

Balance Sheet - continued
31 May 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 8 February 2024 and were signed on its behalf by:





C Marchbank-Caunce - Director


Apartmental Ltd (Registered number: 10764603)

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

1. STATUTORY INFORMATION

Apartmental 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the gross rentals receivable before related expenses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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 NIL (2022 - NIL).

Apartmental Ltd (Registered number: 10764603)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 623
DEPRECIATION
At 1 June 2022 124
Charge for year 124
At 31 May 2023 248
NET BOOK VALUE
At 31 May 2023 375
At 31 May 2022 499

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 1,200,000
NET BOOK VALUE
At 31 May 2023 1,200,000
At 31 May 2022 1,200,000

The original properties were purchased as leaseholds between December 2017 and September 2019. The freehold of the properties was acquired in March 2021 and a further property was purchased in August 2021. The director, Mr C Marchbank-Caunce, reviews the market values of the properties each year and as a result, the properties were revalued in 2022. In his opinion, the market value has not significantly changed in 2023 and thus the carrying values have not changed in the year.

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2022 368,658
Cost 831,342
1,200,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 831,342 831,342

The investment properties were valued on an open market basis on 31 May 2022 by the director, Mr C Marchbank-Caunce .

Apartmental Ltd (Registered number: 10764603)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 695 650
Prepayments 628 540
1,323 1,190

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 9,846 9,612
Tax 4,609 3,839
Directors' current accounts 20,000 20,000
Deferred income 695 650
Accrued expenses 1,827 1,393
36,977 35,494

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans - 2-5 years 26,610 36,456
Bank loans more 5 yr by instal 220,616 220,622
Directors' loan accounts 492,219 501,729
739,445 758,807

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 220,616 220,622

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2022 44,197 276,494 320,691
Profit for the year 19,551 19,551
Dividends (1,000 ) (1,000 )
At 31 May 2023 62,748 276,494 339,242

Apartmental Ltd (Registered number: 10764603)

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

11. RELATED PARTY DISCLOSURES

Monies to finance the company's activities came from the directors and their families. At 31 May 2023, the amount owed by the company to the directors and their families was £512,219 (2022 £521,729).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C Marchbank-Caunce.