Company Registration No. 06475425 (England and Wales)
50-51 Properties Limited
Unaudited accounts
for the year ended 31 March 2023
50-51 Properties Limited
Unaudited accounts
Contents
50-51 Properties Limited
Company Information
for the year ended 31 March 2023
Directors
Ciro Orsini
Antonio Coppola
Company Number
06475425 (England and Wales)
50-51 Properties Limited
Statement of financial position
as at 31 March 2023
Investment property
9,220,153
9,220,153
Cash at bank and in hand
180,548
76,001
Creditors: amounts falling due within one year
(1,854,200)
(1,561,133)
Net current liabilities
(1,633,582)
(1,429,582)
Total assets less current liabilities
7,586,571
7,790,571
Creditors: amounts falling due after more than one year
(2,849,928)
(3,148,330)
Provisions for liabilities
Deferred tax
(273,217)
(273,217)
Net assets
4,463,426
4,369,024
Called up share capital
1
1
Revaluation reserve
2,878,357
2,878,357
Profit and loss account
1,585,068
1,490,666
Shareholders' funds
4,463,426
4,369,024
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by
Ciro Orsini
Director
Company Registration No. 06475425
50-51 Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
50-51 Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 06475425.
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.
Fair value at 1 April 2022
9,220,153
At 31 March 2023
9,220,153
Amounts falling due within one year
Trade debtors
39,626
49,143
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
286,078
294,491
Taxes and social security
22,926
9,720
Other creditors
1,431,910
1,150,386
Loans from directors
93,336
72,028
Deferred income
19,950
28,700
50-51 Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
2,276,939
2,476,240
Loans from directors
572,989
632,789
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).