Company registration number 10997353 (England and Wales)
AUSTINOMA PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
AUSTINOMA PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
AUSTINOMA PROPERTIES LIMITED (REGISTERED NUMBER: 10997353)
BALANCE SHEET
AS AT
28 APRIL 2023
28 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,050,000
1,000,000
Current assets
Cash at bank and in hand
3,580
8,047
Creditors: amounts falling due within one year
4
(281,940)
(289,868)
Net current liabilities
(278,360)
(281,821)
Total assets less current liabilities
771,640
718,179
Creditors: amounts falling due after more than one year
5
(673,555)
(673,555)
Provisions for liabilities
(9,500)
-
0
Net assets
88,585
44,624
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
88,584
44,623
Total equity
88,585
44,624

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

AUSTINOMA PROPERTIES LIMITED (REGISTERED NUMBER: 10997353)
BALANCE SHEET (CONTINUED)
AS AT
28 APRIL 2023
28 April 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 July 2024
Mr A Achunine
Director
AUSTINOMA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 APRIL 2023
- 3 -
1
Accounting policies
Company information

Austinoma Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 23 Egmont Street, London, SE14 5QW.

1.1
Reporting period

The company accounts are presented for a period shorter than a year, covering the period from the 30th of April 2022 to the 28th of April 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

1.6
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

AUSTINOMA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 30 April 2022
1,000,000
Revaluations
50,000
At 28 April 2023
1,050,000

The fair value of the investment properties have been arrived at on the basis of a valuation carried out by the director of the company. The valuation was made on an open market value basis by a reference to market evidence of transaction prices for similar properties.

4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,984
-
0
Taxation and social security
1,164
321
Other creditors
278,792
289,547
281,940
289,868
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
673,555
673,555
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
AUSTINOMA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2023
- 5 -
7
Financial commitments, guarantees and contingent liabilities

The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.

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