Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Michael Adam Jude Grant 07/07/2021 30 July 2024 The principal activity of the Company during the financial year was the acquisition and letting of real estate. 13498706 2023-07-31 13498706 bus:Director1 2023-07-31 13498706 2022-07-31 13498706 core:CurrentFinancialInstruments 2023-07-31 13498706 core:CurrentFinancialInstruments 2022-07-31 13498706 core:Non-currentFinancialInstruments 2023-07-31 13498706 core:Non-currentFinancialInstruments 2022-07-31 13498706 core:ShareCapital 2023-07-31 13498706 core:ShareCapital 2022-07-31 13498706 core:RetainedEarningsAccumulatedLosses 2023-07-31 13498706 core:RetainedEarningsAccumulatedLosses 2022-07-31 13498706 bus:OrdinaryShareClass1 2023-07-31 13498706 2022-08-01 2023-07-31 13498706 bus:FilletedAccounts 2022-08-01 2023-07-31 13498706 bus:SmallEntities 2022-08-01 2023-07-31 13498706 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 13498706 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 13498706 bus:Director1 2022-08-01 2023-07-31 13498706 2021-07-07 2022-07-31 13498706 core:CurrentFinancialInstruments 2022-08-01 2023-07-31 13498706 core:Non-currentFinancialInstruments 2022-08-01 2023-07-31 13498706 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 13498706 bus:OrdinaryShareClass1 2021-07-07 2022-07-31 13498706 1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13498706 (England and Wales)

ADPROP REAL ESTATE INVESTMENT LTD

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

ADPROP REAL ESTATE INVESTMENT LTD

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

ADPROP REAL ESTATE INVESTMENT LTD

COMPANY INFORMATION

For the financial year ended 31 July 2023
ADPROP REAL ESTATE INVESTMENT LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTOR Michael Adam Jude Grant
REGISTERED OFFICE C/O Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
COMPANY NUMBER 13498706 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
ADPROP REAL ESTATE INVESTMENT LTD

BALANCE SHEET

As at 31 July 2023
ADPROP REAL ESTATE INVESTMENT LTD

BALANCE SHEET (continued)

As at 31 July 2023
Note 31.07.2023 31.07.2022
£ £
Fixed assets
Investment property 3 1,171,646 1,171,646
1,171,646 1,171,646
Creditors: amounts falling due within one year 4 ( 484,700) ( 504,422)
Net current liabilities (484,700) (504,422)
Total assets less current liabilities 686,946 667,224
Creditors: amounts falling due after more than one year 5 ( 649,967) ( 649,969)
Net assets 36,979 17,255
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 36,977 17,253
Total shareholder's funds 36,979 17,255

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Adprop Real Estate Investment Ltd (registered number: 13498706) were approved and authorised for issue by the Director on 30 July 2024. They were signed on its behalf by:

Michael Adam Jude Grant
Director
ADPROP REAL ESTATE INVESTMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
ADPROP REAL ESTATE INVESTMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Adprop Real Estate Investment Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Praxis, 1 Poultry, London, EC2R 8EJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

Year ended
31.07.2023
Period from
07.07.2021 to
31.07.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 August 2022 1,171,646
As at 31 July 2023 1,171,646

Encumbered

The fair value of the Company's investment properties that was unencumbered at 31 July 2023 have been arrived at on the basis of valuations carried out on that date by the director of the business. In carrying out their review, the director has made assumptions in relation to rental yields and estimated future achievable rents. The director does not consider there to be a material change in value, as considered by them on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

31.07.2023 31.07.2022
£ £
Historic cost 1,171,646 1,171,646

4. Creditors: amounts falling due within one year

31.07.2023 31.07.2022
£ £
Bank overdrafts ( 200) 114
Trade creditors 6,380 0
Amounts owed to Group undertakings 10,861 10,771
Other creditors 467,659 493,537
484,700 504,422

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

Included within other creditors is an amount of £464,261 due to the director, arising from a loan made to fund the acquisition of investment property. The loan does not bear interest and no date for repayment has been set.

5. Creditors: amounts falling due after more than one year

31.07.2023 31.07.2022
£ £
Bank loans 649,967 649,969

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

31.07.2023 31.07.2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Financial commitments

The Company had no material capital commitments at the year ended 31 July 2023.

8. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.