2022-07-01 02347418 2023-06-30 02347418 2022-07-01 2023-06-30 02347418 2022-06-30 02347418 2021-07-01 2022-06-30 02347418 uk-core:WithinOneYear 2022-06-30 02347418 uk-core:WithinOneYear 2023-06-30 02347418 uk-core:AfterOneYear 2022-06-30 02347418 uk-core:AfterOneYear 2023-06-30 02347418 uk-core:ShareCapital 2023-06-30 02347418 uk-core:ShareCapital 2022-06-30 02347418 uk-core:InvestmentPropertiesRevaluationReserve 2023-06-30 02347418 uk-core:InvestmentPropertiesRevaluationReserve 2022-06-30 02347418 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 02347418 uk-core:RetainedEarningsAccumulatedLosses 2022-06-30 02347418 uk-bus:Director1 2022-07-01 2023-06-30 02347418 uk-core:FurnitureFittings 2022-07-01 2023-06-30 02347418 uk-core:PlantMachinery 2022-06-30 02347418 uk-core:Buildings 2022-06-30 02347418 uk-core:PlantMachinery 2022-07-01 2023-06-30 02347418 uk-core:Buildings 2022-07-01 2023-06-30 02347418 uk-core:Buildings 2023-06-30 02347418 uk-core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure 02347418 uk-bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 02347418 uk-bus:FRS102 2022-07-01 2023-06-30 02347418 uk-bus:FullAccounts 2022-07-01 2023-06-30 02347418 uk-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
A E Properties Limited
Registered Number:02347418
For the year ended 30 June 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 June 2023
A E Properties Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Registered Number :
02347418
As at 30 June 2023
A E Properties Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
8,920,000
8,750,000
2
8,920,000
8,750,000
Current assets
Trade and other receivables
444,781
401,590
3
144,693
Cash and cash equivalents
144,466
546,056
589,474
Trade and other payables: amounts falling due within one year
(319,505)
(314,385)
4
269,969
231,671
Net current assets
Total assets less current liabilities
9,151,671
9,019,969
Trade and other payables: amounts falling due after more than one
year
(7,207,009)
(7,214,959)
5
(123,429)
(113,202)
Provisions for liabilities
1,813,283
Net assets
1,699,758
Capital and reserves
Called up share capital
102
102
Fair value reserve
493,719
323,719
Retained earnings
1,319,462
1,375,937
1,813,283
1,699,758
Shareholders' funds
For the year ended 30 June 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Wai Cheong Law Director
These financial statements were approved and authorised for issue by the Board on 27 March 2024 and were signed by:
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4
Registered Number :
02347418
For the year ended 30 June 2023
A E Properties Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 30 June 2023
A E Properties Limited
Notes to the Financial Statements
Statutory Information
A E Properties Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
02347418.
Registered address:
Unit 21, Kingspark Business Centre
152-178 Kingston Road
New Malden
Surrey
KT3 3ST
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Straight line
Fixtures, fittings & equipment
Investment property
Investment properties consist of freehold and leasehold properties that are held to earn rentals or for capital appreciation or both. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. Investment properties are stated at fair value as at the year end, which is based on the most recent valuation, by independent professional registered valuers, carried out in May 2022 and August 2020 for the commercial properties and residential properties respectively, and the directors' assumption that there has been no material changes in the fair value of the investment properties at the year end. No independent professional valuation was carried out this year.
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. Deferred tax relating to investment properties is measured using the tax rates and allowances that apply to the sale of the asset. The provision for liabilities in the statement of financial position is the deferred tax provision on investment property fair value gains or loss at 25%.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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6
For the year ended 30 June 2023
A E Properties Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Plant and
machinery
Freehold &
leasehld
properties
£
£
£
Cost or valuation
At 01 July 2022
8,750,278
278
8,750,000
170,000
-
170,000
Revaluations
At 30 June 2023
8,920,000
278
8,920,278
Provision for depreciation and impairment
At 01 July 2022
278
278
-
At 30 June 2023
278
278
-
At 30 June 2023
Net book value
8,920,000
-
8,920,000
At 30 June 2022
8,750,000
-
8,750,000
3. Trade and other receivables
2022
2023
£
£
Trade debtors
64,326
74,650
Amounts owed by group undertakings and participating interests
329,467
329,571
Other debtors
7,797
40,560
444,781
401,590
The debtors above include the following amounts falling due after more than one year:
Amounts owed by group undertakings and participating interests
329,467
329,571
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Amounts owed to group undertaking and undertaking in which the company
has a participating interest
200,739
202,947
Taxation and social security
15,373
17,266
Other creditors
98,273
99,292
314,385
319,505
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7
For the year ended 30 June 2023
A E Properties Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Amounts owed to group undertaking and undertaking in which the company
has a participating interest
1,702,145
1,702,145
Other creditors
5,512,814
5,504,864
7,214,959
7,207,009
6. Related party transactions
During the year ended 30 June 2023, management charges of £10,000 (2022: £10,000) were payable to the immediate parent
company, Continental Assets Limited.
The company is controlled by its immediate parent undertaking, Continental Assets Limited, a company registered in England
and Wales.
The company's ultimate parent company is Morita Investment Holding Limited, a company registered in the British Virgin
Islands.
7. Average number of persons employed
During the year the average number of employees was 3 (2022 : 3)
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