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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

A PROPERTY INITIATIVE LIMITED

A PROPERTY INITIATIVE LIMITED (REGISTERED NUMBER: 12432247)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A PROPERTY INITIATIVE LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2023







DIRECTOR: Mr M Andrew





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 12432247 (England and Wales)






A PROPERTY INITIATIVE LIMITED (REGISTERED NUMBER: 12432247)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,670,000 1,670,000

CURRENT ASSETS
Debtors 5 1,302 824
Cash at bank 11,209 62,832
12,511 63,656
CREDITORS
Amounts falling due within one year 6 (113,768 ) (112,252 )
NET CURRENT LIABILITIES (101,257 ) (48,596 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,568,743

1,621,404

CREDITORS
Amounts falling due after more than one year 7 (1,302,297 ) (1,396,350 )

PROVISIONS FOR LIABILITIES 8 (37,540 ) (28,530 )
NET ASSETS 228,906 196,524

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 112,620 121,630
Retained earnings 116,186 74,794
SHAREHOLDERS' FUNDS 228,906 196,524

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 director acknowledges his 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 director and authorised for issue on 12 March 2024 and were signed by:





Mr M Andrew - Director


A PROPERTY INITIATIVE LIMITED (REGISTERED NUMBER: 12432247)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

A Property Initiative 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 represents property rents receivable, excluding value added tax.

Investment property
Investment property is revalued annually based on fair value. Changes to fair value go through the income statement. Gains and losses are not realised and as such are not subject to current tax and are regarded as non-distributable. Depreciation is not provided.

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 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,670,000
NET BOOK VALUE
At 30 June 2023 1,670,000
At 30 June 2022 1,670,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 1,670,000

A PROPERTY INITIATIVE LIMITED (REGISTERED NUMBER: 12432247)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

4. INVESTMENT PROPERTY - continued

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

2023 2022
£    £   
Cost 1,519,840 1,519,840

Investment property was valued on an open market basis on 30 June 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,302 824

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 9,738 9,633
Other creditors 104,030 102,619
113,768 112,252

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 1,302,297 1,396,350

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 37,540 28,530

Deferred
tax
£   
Balance at 1 July 2022 28,530
Provided during year 9,010
Balance at 30 June 2023 37,540

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

A PROPERTY INITIATIVE LIMITED (REGISTERED NUMBER: 12432247)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

10. RESERVES
Revaluation
reserve
£   
At 1 July 2022 121,630
Transfers (9,010 )

At 30 June 2023 112,620