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Registered number: 11059178









AEDES INVESTMENTS (VALENTINE) LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
AEDES INVESTMENTS (VALENTINE) LIMITED
REGISTERED NUMBER: 11059178

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
1,980,879
1,980,879

  
1,980,879
1,980,879

Current assets
  

Debtors: amounts falling due within one year
 6 
4,278
5,781

Cash at bank and in hand
 7 
10,646
2,314

  
14,924
8,095

Creditors: amounts falling due within one year
 8 
(8,434)
(189,585)

Net current assets/(liabilities)
  
 
 
6,490
 
 
(181,490)

Total assets less current liabilities
  
1,987,369
1,799,389

Creditors: amounts falling due after more than one year
 9 
(2,112,270)
(1,872,941)

  

Net liabilities
  
(124,901)
(73,552)


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(124,904)
(73,555)

  
(124,901)
(73,552)

Page 1

 
AEDES INVESTMENTS (VALENTINE) LIMITED
REGISTERED NUMBER: 11059178
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S Koseff
Director

Date: 3 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AEDES INVESTMENTS (VALENTINE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Aedes Investments (Valentine) Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 11059178.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such the director considers it appropriate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
AEDES INVESTMENTS (VALENTINE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
 Straight Line Method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
AEDES INVESTMENTS (VALENTINE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
32,208



At 31 December 2023

32,208



Depreciation


At 1 January 2023
32,208



At 31 December 2023

32,208



Net book value



At 31 December 2023
-



At 31 December 2022
-


5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,980,879



At 31 December 2023
1,980,879

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 5

 
AEDES INVESTMENTS (VALENTINE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
2,708
5,781

Prepayments and accrued income
1,570
-



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,646
2,314

10,646
2,314



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
-
186,945

Other creditors
294
-

Accruals and deferred income
8,140
2,640

8,434
189,585



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
800,000
1,253,986

Other creditors
1,312,270
618,955

2,112,270
1,872,941


Page 6

 
AEDES INVESTMENTS (VALENTINE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Other loans
-
186,945


-
186,945


Amounts falling due after more than 5 years

Bank loans
800,000
1,253,986


The bank loans are secured on the company's freehold investment property.


11.


Related party transactions

Included in other creditors is £294 (2022: £652 debit balance) due to Aedes Investments Ltd, a company in with common director. This loan is interest free, unsecured and repayable on demand.
Included in other debtors is £1,225 (2022: £1,225) due from Kidderpore Properties Limited, a company with common director. This loan is interest free, unsecured and repayable on demand.

 
Page 7