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REGISTERED NUMBER: 10923551 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

AT Properties (SW) Limited

AT Properties (SW) Limited (Registered number: 10923551)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


AT Properties (SW) Limited

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: Mrs A D Brittan
T Brittan





Registered office: Trevaylor
Calstock Road
Gunnislake
Cornwall
PL18 9BY





Registered number: 10923551 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

AT Properties (SW) Limited (Registered number: 10923551)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 169 250
Investment property 5 590,000 570,000
590,169 570,250

Current assets
Debtors 6 - 1,559
Cash at bank 32,389 34,293
32,389 35,852
Creditors
Amounts falling due within one year 7 423,713 424,407
Net current liabilities (391,324 ) (388,555 )
Total assets less current liabilities 198,845 181,695

Provisions for liabilities 8 41,000 27,400
Net assets 157,845 154,295

Capital and reserves
Called up share capital 9 100 100
Revaluation reserve 10 123,412 117,012
Retained earnings 34,333 37,183
Shareholders' funds 157,845 154,295

AT Properties (SW) Limited (Registered number: 10923551)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





Mrs A D Brittan - Director


AT Properties (SW) Limited (Registered number: 10923551)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

AT Properties (SW) 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 as modified by the revaluation of investment properties.

Turnover
This represents rents receivable for the period adjusted for arrears or amounts in advance at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment25% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

AT Properties (SW) Limited (Registered number: 10923551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
These financial statements have been prepared on a going concern basis. The company is dependent on the support of the directors who, at the balance sheet date, were owed £419,243. The directors have confirmed that funds will continue to be made available into the foreseeable future.

Debtors and creditors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 April 2023
and 31 March 2024 324
Depreciation
At 1 April 2023 74
Charge for year 81
At 31 March 2024 155
Net book value
At 31 March 2024 169
At 31 March 2023 250

AT Properties (SW) Limited (Registered number: 10923551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023 570,000
Revaluations 20,000
At 31 March 2024 590,000
Net book value
At 31 March 2024 590,000
At 31 March 2023 570,000

The property was valued by the directors at the balance sheet date.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 104,412
Valuation in 2022 40,000
Valuation in 2024 20,000
Cost 425,588
590,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 1,559

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 1,240 3,940
Directors' current accounts 421,214 419,243
Accrued expenses 1,259 1,224
423,713 424,407

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 41,000 27,400

AT Properties (SW) Limited (Registered number: 10923551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 27,400
Provided during year 13,600
Balance at 31 March 2024 41,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 117,012
Transfer to revaluation
reserve 6,400

At 31 March 2024 123,412

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the following amounts to the directors:

Miss A D Keane Director and shareholder £411,004
T Brittan Director and shareholder £10,210

Interest of £6,000 was paid to Miss A D Keane and £200 to T Brittan by the company.

12. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors.