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REGISTERED NUMBER: 02534415 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ALGEBRA PROPERTY LIMITED

ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALGEBRA PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: S G Moss
A Moss
G S Perkins





SECRETARY: A Moss





REGISTERED OFFICE: 50 Seymour Street
London
W1H 7JG





REGISTERED NUMBER: 02534415 (England and Wales)





ACCOUNTANTS: Orcom Civvals Limited
Accountants
50 Seymour Street
London
W1H 7JG

ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,288 161,584
Investment property 5 10,700,000 10,700,000
10,837,288 10,861,584

CURRENT ASSETS
Debtors 6 638,695 482,328
Cash at bank 101,710 594,176
740,405 1,076,504
CREDITORS
Amounts falling due within one year 7 400,902 353,397
NET CURRENT ASSETS 339,503 723,107
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,176,791

11,584,691

CREDITORS
Amounts falling due after more than
one year

8

(2,950,000

)

(3,456,250

)

PROVISIONS FOR LIABILITIES 10 (710,000 ) (710,000 )
NET ASSETS 7,516,791 7,418,441

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 11 3,943,446 3,943,446
Retained earnings 11 3,572,345 3,473,995
SHAREHOLDERS' FUNDS 7,516,791 7,418,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

BALANCE SHEET - continued
30 JUNE 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 26 February 2024 and were signed on its behalf by:





A Moss - Director


ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Algebra Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% 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.

Deferred taxation
Deferred taxation is provided using the liability method on all timing differences to the extent that they are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse.

3. EMPLOYEES AND DIRECTORS

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

ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 719,793 4,032 723,825
DEPRECIATION
At 1 July 2022 558,530 3,711 562,241
Charge for year 24,190 106 24,296
At 30 June 2023 582,720 3,817 586,537
NET BOOK VALUE
At 30 June 2023 137,073 215 137,288
At 30 June 2022 161,263 321 161,584

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 10,700,000
NET BOOK VALUE
At 30 June 2023 10,700,000
At 30 June 2022 10,700,000

Freehold and leasehold property investments were revalued by A Moss, Chartered Surveyor, a director of the company, on the basis of fair value on 30th June 2023.

The cost of the the freehold and leasehold property investments amounted to £6,046,554 as at 30 June 2023.

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 9,666 6,112
Tax repayable 57,180 57,180
Deposits held 133,759 100,056
Directors' current accounts 286,920 174,888
VAT - 26,579
Prepayments and accrued income 61,820 28,263
549,345 393,078

ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 89,350 89,250

Aggregate amounts 638,695 482,328

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to participating interests 77,385 77,385
Corporation tax 39,067 59,615
VAT 14,487 -
Other creditors 143,759 110,056
Accrued expenses 126,204 106,341
400,902 353,397

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 2,950,000 3,456,250

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,950,000 3,456,250

The bank loan are secured on the freehold and leasehold investment properties of the company, the loan is charged at UK base rate plus margin of 2.40% and repayable within 2 years commencing December 2022.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 710,000 710,000

ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 710,000
Balance at 30 June 2023 710,000

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

At 1 July 2022 3,473,995 3,943,446 7,417,441
Profit for the year 143,000 143,000
Dividends (44,650 ) (44,650 )
At 30 June 2023 3,572,345 3,943,446 7,515,791

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
S G Moss
Balance outstanding at start of year 49,972 -
Amounts advanced 27,716 49,972
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 77,688 49,972

A Moss
Balance outstanding at start of year 124,916 -
Amounts advanced 84,316 124,916
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 209,232 124,916

The directors Mr A Moss and Mr S G Moss have repaid £115,000 on 26 February 2024.

ALGEBRA PROPERTY LIMITED (REGISTERED NUMBER: 02534415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


13. RELATED PARTY DISCLOSURES

Creditors include an amount owing to Thoroughstar Limited of £77,385 (2022: £77,385), a company in which the directors A Moss and S G Moss have an interest.

During the year rents amounting to £200,000 (2022: £200,000) was paid to ASG Properties, a business in which the directors A Moss and G Moss have a material interest.

£286,920 was due from ASG Properties, a business in which the directors A Moss and G Moss have a material interest.

Debtors include an amount of £89,350 (2022: £89,250) owed by Algebra (Newco) Limited, the holding company of Algebra Property Limited.

No interest was charged or received on these outstanding balances during the year.

During the year, a dividend of £44,650 was paid by the company to Algebra (Newco) Ltd .

Algebra (Newco) Limited is the parent company and controlling party of Algebra Property Limited.