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REGISTERED NUMBER: 10398274 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ABBEY WOOD PROPERTY LTD

ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ABBEY WOOD PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: I J Hussain
M Jakisic





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 10398274 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 18,848,797 16,030,620
Debtors 5 495,958 642,433
Cash at bank 2,720 14,850
19,347,475 16,687,903
CREDITORS
Amounts falling due within one year 6 16,958,361 14,450,915
NET CURRENT ASSETS 2,389,114 2,236,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,389,114

2,236,988

CREDITORS
Amounts falling due after more than one
year

7

2,432,302

2,441,069
NET LIABILITIES (43,188 ) (204,081 )

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings (43,288 ) (204,181 )
(43,188 ) (204,081 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




I J Hussain - Director



M Jakisic - Director


ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Abbey Wood Property Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable from the sales of property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Inventories are valued at lower of cost and net realisable value. The cost of work in progress and finished projects includes all development costs and the attributable proportion of indirect overheads based on normal level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal.

Financial instruments
Basic financial assets,which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the directors for a period of at least 12 months from the date of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 1,346
DEPRECIATION
At 1 November 2022
and 31 October 2023 1,346
NET BOOK VALUE
At 31 October 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 495,958 642,433

ABBEY WOOD PROPERTY LTD (REGISTERED NUMBER: 10398274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,996 10,523
Trade creditors 163,425 73,891
Other creditors 16,784,940 14,366,501
16,958,361 14,450,915

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,411 29,151
Other creditors 2,413,891 2,411,918
2,432,302 2,441,069

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 10,400,000 6,226,863

Other loans are secured by way of fixed and floating charges over all the land and property and contains a negative pledge.

9. RELATED PARTY DISCLOSURES

Included in other debtors are amounts owed of £246,520 (2022 - £614,253) by companies under the control of the directors.

Included in other creditors are amounts owing of £6,383,209 (2022 - £8,138,007) to companies under the control of the directors.

The above loans are interest free and repayable on demand.