Registered number
13838972
ABL PROPERTY SERVICES LIMITED
Filleted Accounts
31 January 2024
ABL PROPERTY SERVICES LIMITED
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7
ABL PROPERTY SERVICES LIMITED
Company Information
Directors
Andrew Nicholas Lancaster
Beverly Ann Lancaster
Accountants
The Accountancy Partnership
Twelve Quays House
Egerton Wharf
Wirral
CH41 1LD
Registered office
Dovedale
Doles Lane
Wokingham
Berkshire
United Kingdom
RG41 4EB
Registered number
13838972
ABL PROPERTY SERVICES LIMITED
Registered number: 13838972
Directors' Report
The directors present their report and accounts for the year ended 31 January 2024.
Principal activities
The company's principal activity during the year continued to be buy to let residential properties.
Directors
The following persons served as directors during the year:
Andrew Nicholas Lancaster
Beverly Ann Lancaster
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 15 April 2024 and signed on its behalf.
A. Lancaster
Director
ABL PROPERTY SERVICES LIMITED
Accountants' Report
Accountants' report to the directors of
ABL PROPERTY SERVICES LIMITED
You consider that the company is exempt from an audit for the year ended 31 January 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
The Accountancy Partnership
Accountants
Twelve Quays House
Egerton Wharf
Wirral
CH41 1LD
15 April 2024
ABL PROPERTY SERVICES LIMITED
Profit and Loss Account
for the year ended 31 January 2024
2024 2023
£ £
Turnover 14,837 2,339
Cost of sales (1,421) (221)
Gross profit 13,416 2,118
Administrative expenses (10,651) (5,495)
Operating profit/(loss) 2,765 (3,377)
Interest payable (6,314) (1,044)
Loss before taxation (3,549) (4,421)
Tax on loss - -
Loss for the financial year (3,549) (4,421)
ABL PROPERTY SERVICES LIMITED
Registered number: 13838972
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 255,099 123,479
Current assets
Cash at bank and in hand 8,629 32,669
Net current assets 8,629 32,669
Total assets less current liabilities 263,728 156,148
Creditors: amounts falling due after more than one year 4 (229,803) (153,982)
Net assets 33,925 2,166
Capital and reserves
Called up share capital 100 100
Revaluation reserve 5 41,795 6,487
Profit and loss account (7,970) (4,421)
Shareholders' funds 33,925 2,166
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
As at 31/01/2024, there is a charge held over the company asset 164 Sycamore Avenue by The Mortgage Works (UK) PLC.
As at 31/01/2024, there is a charge held over the company assets to the value of £81,000 by Paragon Bank PLC.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A. Lancaster
Director
Approved by the board on 15 April 2024
ABL PROPERTY SERVICES LIMITED
Statement of Changes in Equity
for the year ended 31 January 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 10 January 2022 - - - - -
Loss for the period (4,421) (4,421)
Gain on revaluation of land and buildings 6,487 6,487
Other comprehensive income for the financial year - - 6,487 - 6,487
Total comprehensive income for the financial year - - 6,487 (4,421) 2,066
Shares issued 100 - 100
At 31 January 2023 100 - 6,487 (4,421) 2,166
At 1 February 2023 100 - 6,487 (4,421) 2,166
Loss for the financial year (3,549) (3,549)
Gain on revaluation of land and buildings 35,308 35,308
Other comprehensive income for the financial year - - 35,308 - 35,308
Total comprehensive income for the financial year - - 35,308 (3,549) 31,759
At 31 January 2024 100 - 41,795 (7,970) 33,925
ABL PROPERTY SERVICES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 123,355 155 123,510
Additions 96,337 - 96,337
Surplus on revaluation 35,308 - 35,308
At 31 January 2024 255,000 155 255,155
Depreciation
At 1 February 2023 - 31 31
Charge for the year - 25 25
At 31 January 2024 - 56 56
Net book value
At 31 January 2024 255,000 99 255,099
At 31 January 2023 123,355 124 123,479
4 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 229,803 153,982
5 Revaluation reserve 2024 2023
£ £
At 1 February 2023 6,487 -
Gain on revaluation of land and buildings 35,308 6,487
At 31 January 2024 41,795 6,487
6 Other information
ABL PROPERTY SERVICES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Dovedale
Doles Lane
Wokingham
Berkshire
RG41 4EB
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