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COMPANY REGISTRATION NUMBER: 09586700
Abbey View Investments Limited
Filleted Unaudited Financial Statements
30 September 2023
Abbey View Investments Limited
Financial Statements
Year ended 30 September 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Abbey View Investments Limited
Officers and Professional Advisers
Director
S B Spitz
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Abbey View Investments Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Abbey View Investments Limited
Year ended 30 September 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 September 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Abbey View Investments Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
1,320,249
1,320,249
Investments
5
1
1
------------
------------
1,320,250
1,320,250
Current assets
Debtors
6
2,709,112
2,699,112
Investments
7
217,315
236,509
Cash at bank and in hand
78,638
47,407
------------
------------
3,005,065
2,983,028
Creditors: amounts falling due within one year
8
17,322
15,937
------------
------------
Net current assets
2,987,743
2,967,091
------------
------------
Total assets less current liabilities
4,307,993
4,287,341
Creditors: amounts falling due after more than one year
9
4,149,594
4,140,094
------------
------------
Net assets
158,399
147,247
------------
------------
Capital and reserves
Called up share capital
300
300
Revaluation reserve
83,125
77,319
Profit and loss account
74,974
69,628
---------
---------
Shareholders funds
158,399
147,247
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Abbey View Investments Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 5 May 2024 , and are signed on behalf of the board by:
S B Spitz
Director
Company registration number: 09586700
Abbey View Investments Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment properties
Investment properties are accounted for at their fair value every 3 years on a regular basis. Changes in fair value are reflected through the profit and loss account and any unrealised gains or losses are transferred from profit and loss to the fair value reserve. No depreciation is provided in respect of investment properties. This treatment is a departure from the requirements of the companies act 2006 which requires all properties to be depreciated. However, the director considers that these properties are not held for consumption but for investment and that to depreciate them would not give a true and fair view. The amount of of depreciation which might otherwise have been charged cannot be separately identified or quantified as it is not practical to assess the estimated useful lives for investment properties.
Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by the directors in preparing these financial statements .
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
4. Tangible assets
Freehold property
£
Cost
At 1 October 2022 and 30 September 2023
1,320,249
------------
Depreciation
At 1 October 2022 and 30 September 2023
------------
Carrying amount
At 30 September 2023
1,320,249
------------
At 30 September 2022
1,320,249
------------
At the year end, the director is of the opinion that there is no material difference between cost and the revalued amount of the properties and that these are revalued regularly at 3 year intervals in line with the accounting policy adopted .
5. Investments
Shares in participating interests
£
Cost
At 1 October 2022 and 30 September 2023
1
----
Impairment
At 1 October 2022 and 30 September 2023
----
Carrying amount
At 30 September 2023
1
----
At 30 September 2022
1
----
The above amount represents a 50% investment in Smallview Properties Limited.
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,530,000
1,530,000
Other debtors
1,179,112
1,169,112
------------
------------
2,709,112
2,699,112
------------
------------
7. Investments
2023
2022
£
£
Other investments
217,315
236,509
---------
---------
The investments have been revalued at their open market value based upon the valuations on recognised stock exchanges.
The entirety of the investments shown above comprise of listed investments.
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
944
3,656
Other creditors
16,378
12,281
--------
--------
17,322
15,937
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
4,149,594
4,140,094
------------
------------
The company has given security by way of a fixed charge over the company's shares dated 22 March 2019 in favour of Investec Bank PLC.