Registered number
03931189
ACTIUM PROPERTIES LIMITED
Filleted Accounts
31 October 2023
ACTIUM PROPERTIES LIMITED
Registered number: 03931189
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 875,000 875,000
Current assets
Debtors 4 110,147 104,421
Cash at bank and in hand 25,107 53,497
135,254 157,918
Creditors: amounts falling due within one year 5 (119,522) (181,591)
Net current assets/(liabilities) 15,732 (23,673)
Total assets less current liabilities 890,732 851,327
Provisions for liabilities (52,217) (52,217)
Net assets 838,515 799,110
Capital and reserves
Called up share capital 100 100
Fair value adjustment 6 254,943 254,943
Profit and loss account 583,472 544,067
Shareholder's funds 838,515 799,110
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E Whittington
Director
Approved by the board on 25 July 2024
ACTIUM PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of investment property.
Tangible fixed assets
Tangible fixed assets, comprising of investment property, are measured at fair value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2022 875,000
At 31 October 2023 875,000
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 875,000
At 31 October 2022 875,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 567,840 567,840
Cumulative depreciation based on historical cost - -
567,840 567,840
Land and buildings, comprising of investment property, was valued by Frost Meadowcroft in October 2016 at £875,000. Valuations are performed with sufficient regularity to ensure that the fair value of a revalued asset does not differ materially from its carrying amount.
4 Debtors 2023 2022
£ £
Trade debtors 10,042 -
Other debtors 100,105 104,421
110,147 104,421
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 11,975 10,397
Other creditors 107,547 171,194
119,522 181,591
6 Fair value adjustment 2023 2022
£ £
At 1 November 2022 254,943 254,943
At 31 October 2023 254,943 254,943
7 Related party transactions
Included in other debtors is an amount due from Quest FZE Dubai of £79,865 (2022: £79,865), a company in which S Whittington has a material interest.
Included in other creditors is an amount due to Quest Search and Selection Limited of £58,208 (2022: £57,333), a company in which the directors have a material interest.
There are no terms as to interest or repayment in respect of these balances.
8 Controlling party
The company is under the ultimate control of E Whittington by virtue of her controlling shareholding in the company.
9 Other information
ACTIUM PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
40 The Glades
Walsall
West Midlands
WS9 8RN
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