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Registered number: 11633698
a & p Properties (Southampton) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Coastal Accountants Ltd
Chartered Certified Accountants
Office 2 Unit 3 Mitchell Point
Ensign Way, Hamble
Southampton
SO31 4RF
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11633698
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,832 47,194
Investment Properties 5 5,016,710 5,046,992
5,056,542 5,094,186
CURRENT ASSETS
Debtors 6 76,553 26,891
Cash at bank and in hand 486,567 636,156
563,120 663,047
Creditors: Amounts Falling Due Within One Year 7 (63,027 ) (20,258 )
NET CURRENT ASSETS (LIABILITIES) 500,093 642,789
TOTAL ASSETS LESS CURRENT LIABILITIES 5,556,635 5,736,975
Creditors: Amounts Falling Due After More Than One Year 8 (3,118,461 ) (3,325,464 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (247,912 ) (255,482 )
NET ASSETS 2,190,262 2,156,029
CAPITAL AND RESERVES
Called up share capital 11 1,018,427 1,018,427
Fair Value Reserve 12 655,531 625,249
Profit and Loss Account 516,304 512,353
SHAREHOLDERS' FUNDS 2,190,262 2,156,029
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Foster
Director
11/01/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
a & p Properties (Southampton) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11633698 . The registered office is 5 Belle Vue, Weymouth, DT4 8DR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance method
Motor Vehicles 15% reducing balance method
Computer Equipment 25% Reducing balance method
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 November 2022 19,959 44,400 5,220 69,579
As at 31 October 2023 19,959 44,400 5,220 69,579
Depreciation
As at 1 November 2022 5,539 14,727 2,119 22,385
Provided during the period 2,136 4,451 775 7,362
As at 31 October 2023 7,675 19,178 2,894 29,747
Net Book Value
As at 31 October 2023 12,284 25,222 2,326 39,832
As at 1 November 2022 14,420 29,673 3,101 47,194
The fair value of the investment property has been arrived at on the basis of a valuation and associated costs of the aquisition. The last independant valuation was carried out on 25 June 2019 by Primmer Olds BAS Chartered Surveyors on an open market basis. The Director has updated the valuation at the balance sheet date based on his knowledge of the market and properites.
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles - 29,673
- 29,673
Page 4
Page 5
5. Investment Property
2023
£
Fair Value
As at 1 November 2022 5,046,992
Revaluations (30,282)
As at 31 October 2023 5,016,710
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 4,951,179 -
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 26,553 26,891
Other debtors 50,000 -
76,553 26,891
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,247 4,247
Bank loans and overdrafts 43,840 10,000
Corporation tax 12,504 -
Other creditors - 4,311
Accruals and deferred income 2,436 1,700
63,027 20,258
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 9,208 16,204
Bank loans 2,508,311 2,596,044
Directors loan account 600,942 713,216
3,118,461 3,325,464
9. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 13,455 20,451
Bank loans and overdrafts 2,552,152 2,606,044
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10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,247 4,247
Later than one year and not later than five years 9,208 16,204
13,455 20,451
13,455 20,451
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,018,427 1,018,427
12. Reserves
Fair Value Reserve
£
As at 1 November 2022 625,249
Transfer to profit and loss 30,282
As at 31 October 2023 655,531
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