Silverfin false 31/05/2023 01/06/2022 31/05/2023 Maureen Grant 01/05/2018 Michael Adam Jude Grant 01/05/2018 Michael John Grant 03/03/2023 01/05/2018 28 August 2024 The principal activity of the Company during the financial year was buying, letting and selling real estate. 11339675 2023-05-31 11339675 bus:Director1 2023-05-31 11339675 bus:Director2 2023-05-31 11339675 bus:Director3 2023-05-31 11339675 2022-05-31 11339675 core:CurrentFinancialInstruments 2023-05-31 11339675 core:CurrentFinancialInstruments 2022-05-31 11339675 core:Non-currentFinancialInstruments 2023-05-31 11339675 core:Non-currentFinancialInstruments 2022-05-31 11339675 core:ShareCapital 2023-05-31 11339675 core:ShareCapital 2022-05-31 11339675 core:RetainedEarningsAccumulatedLosses 2023-05-31 11339675 core:RetainedEarningsAccumulatedLosses 2022-05-31 11339675 core:CostValuation 2022-05-31 11339675 core:CostValuation 2023-05-31 11339675 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-05-31 11339675 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2022-05-31 11339675 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2023-05-31 11339675 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2022-05-31 11339675 bus:OrdinaryShareClass1 2023-05-31 11339675 2022-06-01 2023-05-31 11339675 bus:FullAccounts 2022-06-01 2023-05-31 11339675 bus:SmallEntities 2022-06-01 2023-05-31 11339675 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 11339675 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11339675 bus:Director1 2022-06-01 2023-05-31 11339675 bus:Director2 2022-06-01 2023-05-31 11339675 bus:Director3 2022-06-01 2023-05-31 11339675 2021-06-01 2022-05-31 11339675 core:CurrentFinancialInstruments 2022-06-01 2023-05-31 11339675 core:Non-currentFinancialInstruments 2022-06-01 2023-05-31 11339675 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 11339675 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 11339675 1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11339675 (England and Wales)

ADPROP REAL ESTATE DEVELOPMENT LTD

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

ADPROP REAL ESTATE DEVELOPMENT LTD

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

ADPROP REAL ESTATE DEVELOPMENT LTD

COMPANY INFORMATION

For the financial year ended 31 May 2023
ADPROP REAL ESTATE DEVELOPMENT LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTORS Maureen Grant
Michael Adam Jude Grant
REGISTERED OFFICE C/O Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
COMPANY NUMBER 11339675 (England and Wales)
CHARTERED ACCOUNTANTS Praxis
1 Poultry
London
EC2R 8EJ
ADPROP REAL ESTATE DEVELOPMENT LTD

BALANCE SHEET

As at 31 May 2023
ADPROP REAL ESTATE DEVELOPMENT LTD

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Investments 4 2 2
2 2
Current assets
Stocks 5 930,750 0
Debtors 6 44,479 15,160
Cash at bank and in hand 4,510 0
979,739 15,160
Creditors: amounts falling due within one year 7 ( 1,023,144) ( 25,761)
Net current liabilities (43,405) (10,601)
Total assets less current liabilities (43,403) (10,599)
Creditors: amounts falling due after more than one year 8 ( 26,254) ( 32,575)
Net liabilities ( 69,657) ( 43,174)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 69,757 ) ( 43,274 )
Total shareholders' deficit ( 69,657) ( 43,174)

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Adprop Real Estate Development Ltd (registered number: 11339675) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

Michael Adam Jude Grant
Director
ADPROP REAL ESTATE DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
ADPROP REAL ESTATE DEVELOPMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Adprop Real Estate Development Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Praxis, 1 Poultry, London, EC2R 8EJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments in subsidiary undertakings are held at cost less provision for impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Prior year adjustment

The prior year figures have been restated to reflect the investment in a subsidiary undertaking. The effect of the restatement is as shown below and has had no effect to retained earnings.

As previously reported Adjustment As restated
Year ended 31 May 2022 £ £ £
Investment in subsidiary 0 2 2
Other creditors 50 2 52

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 June 2022 2
At 31 May 2023 2
Carrying value at 31 May 2023 2
Carrying value at 31 May 2022 2

5. Stocks

2023 2022
£ £
Work in progress 930,750 0

Work in progress reflects the costs of property redevelopment completed in the year but not billed at the year end.

6. Debtors

2023 2022
£ £
Amounts owed by own subsidiaries 10,861 10,771
Other debtors 33,618 4,389
44,479 15,160

Amounts owed by subsidiary undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 7,229 9,702
Trade creditors 66,454 13,006
Amounts owed to connected persons 861,369 0
Other creditors 88,092 3,053
1,023,144 25,761

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to connected persons related to a company under common control. The amount is repayable on demand and does not bear interest.

Included in other creditors are amounts owed to the Directors totalling £85,041 (2022: £nil). The amount is repayable on demand and does not bear interest.

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 26,254 32,575

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Financial commitments

The Company had no material capital commitments at the year ended 31 May 2023.

11. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.