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REGISTERED NUMBER: 03276990 (England and Wales)















Unaudited Financial Statements For The Year Ended 30th November 2023

for

Ablenew Limited

Ablenew Limited (Registered number: 03276990)






Contents of the Financial Statements
For The Year Ended 30th November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ablenew Limited

Company Information
For The Year Ended 30th November 2023







DIRECTOR: S Page





REGISTERED OFFICE: 106 Charter Avenue
Ilford
Essex
IG2 7AD





REGISTERED NUMBER: 03276990 (England and Wales)





ACCOUNTANTS: Fredericks Limited
Chartered Accountants
106 Charter Avenue
Ilford
Essex
IG2 7AD

Ablenew Limited (Registered number: 03276990)

Statement of Financial Position
30th November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,584 1,850
Investment property 5 490,000 490,000
493,584 491,850

CURRENT ASSETS
Debtors 6 3,607 1,911
Cash at bank 28,215 43,568
31,822 45,479
CREDITORS
Amounts falling due within one year 7 6,906 11,602
NET CURRENT ASSETS 24,916 33,877
TOTAL ASSETS LESS CURRENT
LIABILITIES

518,500

525,727

PROVISIONS FOR LIABILITIES 8 61,900 61,900
NET ASSETS 456,600 463,827

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 456,599 463,826
SHAREHOLDERS' FUNDS 456,600 463,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Ablenew Limited (Registered number: 03276990)

Statement of Financial Position - continued
30th November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th July 2024 and were signed by:





S Page - Director


Ablenew Limited (Registered number: 03276990)

Notes to the Financial Statements
For The Year Ended 30th November 2023

1. STATUTORY INFORMATION

Ablenew 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income from property, excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Investment properties
Investment properties are valued annually by the directors and by external professionals at least every five years. The aggregate surplus or deficit is transferred to revaluation reserve.

No depreciation or amortisation is provided in respect of leasehold investment properties where the unexpired lease term is 20 years or more.

3. EMPLOYEES AND DIRECTORS

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

Ablenew Limited (Registered number: 03276990)

Notes to the Financial Statements - continued
For The Year Ended 30th November 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st December 2022 9,202 3,743 12,945
Additions 690 1,627 2,317
At 30th November 2023 9,892 5,370 15,262
DEPRECIATION
At 1st December 2022 7,718 3,377 11,095
Charge for year 217 366 583
At 30th November 2023 7,935 3,743 11,678
NET BOOK VALUE
At 30th November 2023 1,957 1,627 3,584
At 30th November 2022 1,484 366 1,850

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st December 2022
and 30th November 2023 490,000
NET BOOK VALUE
At 30th November 2023 490,000
At 30th November 2022 490,000

Fair value at 30th November 2023 is represented by:
£   
Valuation in 2009 (15,000 )
Valuation in 2008 (90,000 )
Valuation in 2007 40,000
Valuation in 2006 102,416
Valuation in 2004 166,398
Valuation in 2010 (10,000 )
Valuation in 2012 10,000
Valuation in 2013 205,000
Valuation in 2017 1,756
Valuation in 2019 (10,000 )
Cost 89,430
490,000

Ablenew Limited (Registered number: 03276990)

Notes to the Financial Statements - continued
For The Year Ended 30th November 2023

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 89,430 89,430

Investment properties were valued on an open market basis on 30th November 2019 by S Page .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 1,396 1,340
Directors' current accounts 1,554 -
Prepayments and accrued income 657 571
3,607 1,911

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Social security and other taxes 3,970 5,904
Other creditors 113 -
Directors' current accounts - 3,151
Accrued expenses 2,823 2,547
6,906 11,602

8. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax
Accelerated capital allowances 181 181
On property revaluation 61,719 61,719
61,900 61,900

Deferred
tax
£   
Balance at 1st December 2022 61,900
Accelerated capital allowances
Balance at 30th November 2023 61,900

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
1 Ordinary £1 1 1

Ablenew Limited (Registered number: 03276990)

Notes to the Financial Statements - continued
For The Year Ended 30th November 2023

10. RESERVES
Retained
earnings
£   

At 1st December 2022 463,826
Deficit for the year (7,227 )
At 30th November 2023 456,599

11. RELATED PARTY DISCLOSURES

The director, S Page, has made loans to the company which are interest free and have no fixed repayment date. The movements are disclosed in the notes to the accounts.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Page.