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Registered Number: 11847735
England and Wales

 

 

 

ALLM PROPERTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Allm Properties Limited for the year ended 29 February 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Allm Properties Limited for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Allm Properties Limited , as a body, in accordance with the terms of our engagement letter dated 23 May 2024. Our work has been undertaken solely to prepare for your approval the accounts of Allm Properties Limited and state those matters that we have agreed to state to the Board of Directors of Allm Properties Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Allm Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Allm Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Allm Properties Limited . You consider that Allm Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Allm Properties Limited . 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 accounts for the period ended 29 February 2024







....................................................
aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
23 May 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,618    3,589 
Investment Properties 4 192,000    185,000 
195,618    188,589 
Current assets      
Debtors 806    724 
Cash at bank and in hand 19,143    26,678 
19,949    27,402 
Creditors: amount falling due within one year (78,441)   (79,903)
Net current assets (58,492)   (52,501)
 
Total assets less current liabilities 137,126    136,088 
Creditors: amount falling due after more than one year (110,264)   (109,558)
Provisions for liabilities (687)   (631)
Net assets 26,175    25,899 
 

Capital and reserves
     
Called up share capital 5 100    100 
Reserves 6 28,815    20,485 
Profit and loss account (2,740)   5,314 
Shareholders' funds 26,175    25,899 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 23 May 2024 and were signed on its behalf by:


-------------------------------
Mr Andrew Gogbashian
Director
2
General Information
Allm Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11847735, registration address Fenlake House, Fenlake Business Centre, Peterborough, PE1 5BQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 3 years Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees including directors


Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2023 6,394    1,400    7,794 
Additions 1,090      1,090 
Disposals    
At 29 February 2024 7,484    1,400    8,884 
Depreciation
At 01 March 2023 3,738    467    4,205 
Charge for year 750    311    1,061 
On disposals    
At 29 February 2024 4,488    778    5,266 
Net book values
Closing balance as at 29 February 2024 2,996    622    3,618 
Opening balance as at 01 March 2023 2,656    933    3,589 


4.

Investment Properties

Cost Other investments other than loans   Total
  £   £
At 01 March 2023 185,000    185,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 7,000    7,000 
At 29 February 2024 192,000    192,000 

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 
The share capital is split as follows:
Ordinary A Shares 45
Ordinary B Shares 45
Ordinary C Shares 5
Ordinary D Shares 5

6.

Related Party Transactions

In 2020 the company borrowed £75,000 from AG Medical Imaging Limited, interest free repayable in 10 years.  The directors are equal shareholders of both companies. 

The amount outstanding at the 29th February 2024 was £75,000, (2023 - £75,000), shown within other creditors.
7.

Secured Loan

All mortgages are secured against the property in which they relate.
3