Registered number
03614646
APB Properties Limited
Accounts for the year ended
31 August 2023
APB Properties Limited
Registered number:03614646
Balance Sheet as at 31 August 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 3,082 3,852
Investments 4 1,400,000 1,400,000
1,403,082 1,403,852
Current assets
Debtors 5 1,206 38,332
Cash at bank and in hand 47,994 31,945
49,200 70,277
Creditors: amounts falling due within one year 6 (8,874) (7,295)
Net current assets 40,326 62,982
Total assets less current liabilities 1,443,408 1,466,834
Creditors: amounts falling due after more than one year 7 (565,727) (566,688)
Provisions for liabilities (151,360) (115,034)
Net assets 726,321 785,112
Capital and reserves
Called up share capital 100 100
Revaluation reserve 9 738,577 774,903
Profit and loss account (12,356) 10,109
Shareholder's funds 726,321 785,112
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A. Browne
Director
Approved by the board on 9 September 2024
APB Properties Limited
Notes to the Accounts for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost of each asset as follows:
Fixtures, fittings, tools and equipment 20 % on written down value
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 September 2022 7,784 7,784
At 31 August 2023 7,784 7,784
Depreciation
At 1 September 2022 3,932 3,932
Charge for the year 770 770
At 31 August 2023 4,702 4,702
Net book value
At 31 August 2023 3,082 3,082
At 31 August 2022 3,852 3,852
4 Investments
Other
investments Total
£ £
Cost
At 1 September 2022 1,400,000 1,400,000
Revaluation - -
At 31 August 2023 1,400,000 1,400,000
Historical cost
At 1 September 2022 510,063
At 31 August 2023 510,063
Freehold and leasehold investment properties were revalued by the director as at 31st August 2023.Tax of approximately £151,360 would be payable if the properties were disposed off at these values.
5 Debtors 2023 2022
£ £
Other debtors 1,206 38,332
1,206 38,332
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,243 1,725
Taxation and social security costs 1,609 1,609
Other creditors 4,022 3,961
8,874 7,295
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 565,727 566,688
565,727 566,688
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 565,727 566,688
565,727 566,688
Secured bank loans 565,727 566,688
The loans are secured by a mortgage over the freehold properties owned by the company.
9 Revaluation reserve 2023 2022
£ £
At 1 September 2022 774,903 734,403
Gain on revaluation of land and buildings - 50,000
Deferred taxation arising on the revaluation of land and buildings (36,326) (9,500)
At 31 August 2023 738,577 774,903
10 Controlling party
The ultimate controlling party of the company is A. Browne.
11 Other information
APB Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
29 Oakfield Lane
Keston
Kent
BR2 6BY
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