Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30Property investmentfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2022-12-01false44 03844174 2022-12-01 2023-11-30 03844174 2021-12-01 2022-11-30 03844174 2023-11-30 03844174 2022-11-30 03844174 2021-12-01 03844174 c:Director4 2022-12-01 2023-11-30 03844174 d:PlantMachinery 2022-12-01 2023-11-30 03844174 d:PlantMachinery 2023-11-30 03844174 d:PlantMachinery 2022-11-30 03844174 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 03844174 d:MotorVehicles 2022-12-01 2023-11-30 03844174 d:MotorVehicles 2023-11-30 03844174 d:MotorVehicles 2022-11-30 03844174 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 03844174 d:FurnitureFittings 2022-12-01 2023-11-30 03844174 d:FurnitureFittings 2023-11-30 03844174 d:FurnitureFittings 2022-11-30 03844174 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 03844174 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 03844174 d:FreeholdInvestmentProperty 2023-11-30 03844174 d:FreeholdInvestmentProperty 2022-11-30 03844174 d:FreeholdInvestmentProperty 2 2022-12-01 2023-11-30 03844174 d:CurrentFinancialInstruments 2023-11-30 03844174 d:CurrentFinancialInstruments 2022-11-30 03844174 d:Non-currentFinancialInstruments 2023-11-30 03844174 d:Non-currentFinancialInstruments 2022-11-30 03844174 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 03844174 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 03844174 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 03844174 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 03844174 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 03844174 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 03844174 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 03844174 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 03844174 d:ShareCapital 2023-11-30 03844174 d:ShareCapital 2022-11-30 03844174 d:RevaluationReserve 2023-11-30 03844174 d:RevaluationReserve 2022-11-30 03844174 d:RetainedEarningsAccumulatedLosses 2023-11-30 03844174 d:RetainedEarningsAccumulatedLosses 2022-11-30 03844174 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 03844174 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 03844174 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 03844174 d:TaxLossesCarry-forwardsDeferredTax 2022-11-30 03844174 c:FRS102 2022-12-01 2023-11-30 03844174 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 03844174 c:FullAccounts 2022-12-01 2023-11-30 03844174 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 03844174 2 2022-12-01 2023-11-30 03844174 6 2022-12-01 2023-11-30 03844174 f:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 03844174









ANACREONTE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
ANACREONTE PROPERTIES LIMITED
REGISTERED NUMBER: 03844174

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
399,995
230,164

Investments
 5 
55,940
-

Investment property
 6 
14,335,000
7,728,337

  
14,790,935
7,958,501

Current assets
  

Debtors: amounts falling due within one year
 7 
430,128
138,959

Cash at bank and in hand
 8 
751,918
824,422

  
1,182,046
963,381

Creditors: amounts falling due within one year
 9 
(1,484,891)
(1,596,920)

Net current liabilities
  
 
 
(302,845)
 
 
(633,539)

Total assets less current liabilities
  
14,488,090
7,324,962

Creditors: amounts falling due after more than one year
 10 
-
(25,000)

Provisions for liabilities
  

Deferred tax
 12 
(2,176,507)
(369,208)

Net assets
  
12,311,583
6,930,754


Capital and reserves
  

Called up share capital 
  
2
2

Non-distributable reserve
  
8,278,937
3,438,127

Profit and loss account
  
4,032,644
3,492,625

  
12,311,583
6,930,754


Page 1

 
ANACREONTE PROPERTIES LIMITED
REGISTERED NUMBER: 03844174
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 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 comprehensive income 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: 




Ms G R Anacreonte
Director

Date: 21 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Anacreonte Properties Limited ("the Company") is a private company limited by shares and incorporated in England and Wales. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the Company is that of property investment.

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

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 principally comprises income recognised by the Company in respect of rent charged and other ancillary services supplied during the period, exclusive of Value Added Tax and trade discounts.
Rental income is recognised on a straight line basis over the term of the lease. Amounts invoiced in advance of the tenancy period are deferred accordingly and recognised as income in the period to which they relate.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income 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 the Statement of comprehensive income in the year in which they are incurred.

Page 3

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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.

Page 4

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

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.

  
2.9

Investment property

Investment property is carried at fair value determined annually by the directors 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 the Statement of comprehensive income.

 
2.10

Valuation of investments

Other fixed asset investments, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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 5

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 December 2022
393,721
4,536
203,509
601,766


Additions
1,248
-
256,267
257,515



At 30 November 2023

394,969
4,536
459,776
859,281



Depreciation


At 1 December 2022
177,076
4,360
190,166
371,602


Charge for the year on owned assets
54,268
44
33,372
87,684



At 30 November 2023

231,344
4,404
223,538
459,286



Net book value



At 30 November 2023
163,625
132
236,238
399,995



At 30 November 2022
216,645
176
13,343
230,164

Page 6

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


Additions
55,940



At 30 November 2023
55,940





6.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
7,728,337


Surplus on revaluation
6,606,663



At 30 November 2023
14,335,000


Comprising


Cost
4,290,211

Annual revaluation surplus/(deficit):


Revaluation
10,044,789

At 30 November 2023
14,335,000

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




Page 7

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
32,872
43,353

Other debtors
390,297
90,296

Prepayments and accrued income
6,959
5,310

430,128
138,959



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
751,918
824,422



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
10,000

Trade creditors
94,267
90,500

Corporation tax
125,866
59,958

Other taxation and social security
2,353
2,929

Other creditors
1,250,530
1,415,275

Accruals and deferred income
11,875
18,258

1,484,891
1,596,920



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
25,000


Page 8

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
10,000

Amounts falling due 1-2 years

Bank loans
-
10,000

Amounts falling due 2-5 years

Bank loans
-
15,000


-
35,000



12.


Deferred taxation




2023
2022


£

£






At beginning of year
369,208
369,208


Charged to profit or loss
1,807,299
-



At end of year
2,176,507
369,208

The provision for deferred taxation is made up as follows:

2023
2022
£
£


On revaluation of investment property
2,131,061
369,208

Accelerated capital allowances
45,446
-

2,176,507
369,208


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,668 (2022 - £1,418). Contributions totalling £341 (2022 - £235) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9