REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
A T PROPERTY DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
A T PROPERTY DEVELOPMENTS LIMITED |
A T PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11052024) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
A T PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11052024) |
BALANCE SHEET |
30 November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
A T PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11052024) |
BALANCE SHEET - continued |
30 November 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
A T PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11052024) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
A T Property Developments Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover includes revenue received from rental income. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
A T PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11052024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2023 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Fair value at 30 November 2023 is represented by: |
£ |
Valuation in 2022 | 67,753 |
Cost | 2,438,312 |
2,506,065 |
1 and 28 Leigh Avenue, Ilford, Essex were purchased during 2020. They have been revalued by the directors on the basis of the valuation of 17 Whitney Avenue, Ilford, Essex. This property was purchased during 2022 and is considered to be very similar in value to the other properties. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
A T PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11052024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 November 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 years |
8. | SECURED DEBTS |
The company has provided legal charges over 28 Leigh Avenue, Ilford, Essex, 1 Leigh Avenue, Ilford, Essex and 17 Whitney Avenue, Ilford, Essex to secure the mortgages. Each loan is interest only. The loan for 28 Leigh Avenue is for 20 years, the loan for 1 Leigh Avenue is for 29 years and the loan for 17 Whitney Avenue is for 25 years. |
9. | CONTROLLING PARTY |
The ultimate controlling parties are J S Barrett and A Trehan. |