Company Registration No. 08465097 (England and Wales)
Access Estates (UK) Limited
Unaudited accounts
for the year ended 30 June 2023
Access Estates (UK) Limited
Unaudited accounts
Contents
Access Estates (UK) Limited
Company Information
for the year ended 30 June 2023
Company Number
08465097 (England and Wales)
Registered Office
107 - 115 Eastmoor Street
London
SE7 8LX
United Kingdom
Accountants
VM UK Accountants Limited
7 Lita Mews
Romford
London
RM1 3FG
Access Estates (UK) Limited
Statement of financial position
as at 30 June 2023
Investment property
1,900,000
1,900,000
Cash at bank and in hand
361
193
Creditors: amounts falling due within one year
(1,128,736)
(273,521)
Net current liabilities
(871,977)
(2,618)
Total assets less current liabilities
1,028,023
1,897,382
Creditors: amounts falling due after more than one year
-
(871,000)
Provisions for liabilities
Deferred tax
(207,224)
(207,224)
Net assets
820,799
819,158
Called up share capital
150
150
Profit and loss account
820,649
819,008
Shareholders' funds
820,799
819,158
For the year ending 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 March 2024 and were signed on its behalf by
Xhevat Lita
Director
Company Registration No. 08465097
Access Estates (UK) Limited
Notes to the Accounts
for the year ended 30 June 2023
Access Estates (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 08465097. The registered office is 107 - 115 Eastmoor Street, London, SE7 8LX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 July 2022
1,900,000
The bank loans are secured against the company's freehold properties. The loan is repayable by instalment over the period in excess of 5 years.
Included in cost or valuation of investment property is freehold land of £249,383 (2015: £249,383) which is not depreciated.
Access Estates (UK) Limited
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Amounts due from group undertakings etc.
226,900
149,900
Other debtors
29,498
117,810
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
871,000
-
Taxes and social security
19,912
48,377
Other creditors
225,331
211,644
Loans from directors
11,493
12,500
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
150 Ordinary shares of £1 each
150
150
10
Transactions with related parties
Other debtors includes amount receivable from Lita Homes Limited of £226,900 (2022: £149,900) the parent company of Access Estates UK Limited and Mr X Lita is director and controlling shareholder.
The company is subsidiary of Lita Homes Limited.
The ultimate controlling party is Mr X Lita who is common director of parent and subsidiary and controlling shareholder of Lita Homes Limited, parent company of Access Estates (UK) Limited.
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Average number of employees
During the year the average number of employees was 1 (2022: 1).