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Registered number: 14276117










AUDLEY DEAN PROPERTIES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2023

 
AUDLEY DEAN PROPERTIES LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AUDLEY DEAN PROPERTIES LTD
FOR THE PERIOD ENDED 31 AUGUST 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Audley Dean Properties Ltd for the period ended 31 August 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Audley Dean Properties Ltd, as a body, in accordance with the terms of our engagement letter dated 10 August 2022Our work has been undertaken solely to prepare for your approval the financial statements of Audley Dean Properties Ltd and state those matters that we have agreed to state to the director of Audley Dean Ltd, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Audley Dean Properties Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Audley Dean Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Audley Dean Properties Ltd. You consider that Audley Dean Properties Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Audley Dean Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
9 April 2024
Page 1

 
AUDLEY DEAN PROPERTIES LTD
REGISTERED NUMBER: 14276117

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
Note
£

Fixed assets
  

Investment property
 4 
193,977

  
193,977

Current assets
  

Cash at bank and in hand
  
2,799

  
2,799

Creditors: amounts falling due within one year
 5 
(57,176)

Net current (liabilities)/assets
  
 
 
(54,377)

Total assets less current liabilities
  
139,600

Creditors: amounts falling due after more than one year
  
(141,545)

  

Net (liabilities)/assets
  
(1,945)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(2,045)

  
(1,945)


Page 2

 
AUDLEY DEAN PROPERTIES LTD
REGISTERED NUMBER: 14276117
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 April 2024.




E R Auger
Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
AUDLEY DEAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


General information

Audley Dean Properties Ltd is a United Kingdom Company limited by shares. It is incorporated and domiciled in England and Wales. The registered office address is 7 The Close, Norwich, NR1 4DJ.
The Company's pincipal activity is property letting in England.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director will continue to support the Company, where required, for the foreseeable future. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Turnover comprises rents receivable during the year, recognised on an accruals in accordance with the period for which rent is due under the terms of the lease. The Company is not registered for Value Added Tax.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors 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. Changes in fair value are recognised in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
AUDLEY DEAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.


4.


Investment property


Long term leasehold investment property

£



Valuation


Additions at cost
193,977



At 31 August 2023
193,977

The 2023 valuations were made by the directors, on an open market value for existing use basis.





5.


Creditors: Amounts falling due within one year

2023
£

Other creditors
55,676

Accruals and deferred income
1,500

57,176


Page 5

 
AUDLEY DEAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
141,545

141,545



7.


Related party transactions

As at 31 August 2023 the balance owed to the directors was £55,676.

 
Page 6