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REGISTERED NUMBER: 12725025 (England and Wales)












505 Property Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






505 Property Limited (Registered number: 12725025)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


505 Property Limited

Company Information
for the Year Ended 31 July 2023







Directors: C D Astley
A J C Hutchinson
M J Moss
R K W Moss





Registered office: 26 Mostyn Road
Hazel Grove
Stockport
Cheshire
SK7 5HR





Registered number: 12725025 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

505 Property Limited (Registered number: 12725025)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 950,131 713,346

Current assets
Debtors 5 6,914 6,532
Cash at bank 15,097 14,826
22,011 21,358
Creditors
Amounts falling due within one year 6 323,738 83,505
Net current liabilities (301,727 ) (62,147 )
Total assets less current liabilities 648,404 651,199

Creditors
Amounts falling due after more than one
year

7

195,000

195,000
Net assets 453,404 456,199

Capital and reserves
Called up share capital 4,630 4,630
Share premium 434,970 434,970
Retained earnings 13,804 16,599
Shareholders' funds 453,404 456,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

505 Property Limited (Registered number: 12725025)

Balance Sheet - continued
31 July 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 1 March 2024 and were signed on its behalf by:





R K W Moss - Director


505 Property Limited (Registered number: 12725025)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. Statutory information

505 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.

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 rental income measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 33% on cost

3. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

4. Tangible fixed assets
Freehold Computer
property equipment Totals
£    £    £   
Cost
At 1 August 2022 712,146 1,489 713,635
Additions 237,281 - 237,281
At 31 July 2023 949,427 1,489 950,916
Depreciation
At 1 August 2022 - 289 289
Charge for year - 496 496
At 31 July 2023 - 785 785
Net book value
At 31 July 2023 949,427 704 950,131
At 31 July 2022 712,146 1,200 713,346

505 Property Limited (Registered number: 12725025)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. Debtors: amounts falling due within one year
31.7.23 31.7.22
£    £   
Trade debtors 4,375 -
Other debtors 2,539 6,532
6,914 6,532

6. Creditors: amounts falling due within one year
31.7.23 31.7.22
£    £   
Taxation and social security 3,652 7,545
Other creditors 320,086 75,960
323,738 83,505

7. Creditors: amounts falling due after more than one year
31.7.23 31.7.22
£    £   
Other creditors 195,000 195,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 195,000 195,000

8. Loans

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 195,000 195,000

505 Property Limited (Registered number: 12725025)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. Secured debts

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Other creditors 195,000 195,000
A Hutchinson - Directors loan 305,000 75,000
500,000 270,000

The loan of £195,000 (£195,000 - 2022) is secured over the property at 20 Buxton Road, Hazel Grove, SK7 6AD

The directors loan of £305,000 (£75,000 - 2022) from Austin Hutchinson is secured over the properties at 18 Buxton Road,Hazel Grove SK7 6AD and 12 Buxton Road, Hazel Grove SK7 6AD