REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
NO. 47 PROPERTIES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
NO. 47 PROPERTIES LIMITED |
NO. 47 PROPERTIES LIMITED (REGISTERED NUMBER: 03883560) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
NO. 47 PROPERTIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 Lower Brook Street |
Oswestry |
Shropshire |
SY11 2HG |
NO. 47 PROPERTIES LIMITED (REGISTERED NUMBER: 03883560) |
BALANCE SHEET |
31 MAY 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
NO. 47 PROPERTIES LIMITED (REGISTERED NUMBER: 03883560) |
BALANCE SHEET - continued |
31 MAY 2024 |
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 |
NO. 47 PROPERTIES LIMITED (REGISTERED NUMBER: 03883560) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
No. 47 Properties Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis. This is dependent on the continued financial support of related undertakings. |
The financial statements are presented in Sterling (£) rounded to the nearest £1. |
These financial statements are for the individual entity only. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Investment property is revalued by the directors at the end of each financial period with depreciation charged to write off the difference in values, down to its estimated realisable value. |
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. |
Deferred government grant |
The deferred government grants shown in the balance sheet are being written off to the profit and loss account over 22.5 & 65 years in accordance with the terms of the grants. |
NO. 47 PROPERTIES LIMITED (REGISTERED NUMBER: 03883560) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 June 2023 |
Revaluations |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Cost or valuation at 31 May 2024 is represented by: |
Improvements |
Freehold | to | Plant and |
property | property | machinery | Totals |
£ | £ | £ | £ |
Valuation in 2014 | 4,805 | - | - | 4,805 |
Valuation in 2018 | 323,026 | - | - | 323,026 |
Valuation in 2021 | 284,377 | - | - | 284,377 |
Valuation in 2022 | 315,000 | - | - | 315,000 |
Valuation in 2024 | 350,000 | - | - | 350,000 |
Cost | 3,027,792 | 18,807 | 385 | 3,046,984 |
4,305,000 | 18,807 | 385 | 4,324,192 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Other debtors |
Deferred tax asset |
Prepayments |
NO. 47 PROPERTIES LIMITED (REGISTERED NUMBER: 03883560) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade creditors |
Tax |
Other creditors |
Directors' current accounts |
Accrued expenses |
Deferred government grants |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans - 1-2 years |
Deferred government grants |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
The bank loans are secured on the freehold property to which they relate to. |
10. | RESERVES |
Included in retained earnings is £1,277,208 (2023: £927,208) of profits which are not available for distribution as they are unrealised profits on revaluations. |
11. | RELATED PARTY DISCLOSURES |
the year end the balance owed from related companies was £ |
12. | ULTIMATE CONTROLLING PARTY |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
NO. 47 PROPERTIES LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of No. 47 Properties Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of No. 47 Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of No. 47 Properties Limited and state those matters that we have agreed to state to the director of No. 47 Properties Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than No. 47 Properties Limited and its director for our work or for this report. |
It is your duty to ensure that No. 47 Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of No. 47 Properties Limited. You consider that No. 47 Properties Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of No. 47 Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
7 Lower Brook Street |
Oswestry |
Shropshire |
SY11 2HG |