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REGISTERED NUMBER: 05610501 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Abel Letting & Property Management Ltd

Abel Letting & Property Management Ltd (Registered number: 05610501)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Abel Letting & Property Management Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J McVay
M J Mayday





REGISTERED OFFICE: 21 St Catherines Road
Hayling Island
Hampshire
PO11 0HF





REGISTERED NUMBER: 05610501 (England and Wales)





ACCOUNTANTS: Moss & Co (Direct Accounts) Limited
Rapley House
29 Creek Road
Hayling Island
Hampshire
PO11 9QZ

Abel Letting & Property Management Ltd (Registered number: 05610501)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,630 245,500

CURRENT ASSETS
Stocks 1,500 1,000
Debtors 895 906
Cash at bank 10,170 15,472
12,565 17,378
CREDITORS
Amounts falling due within one year 79,653 81,659
NET CURRENT LIABILITIES (67,088 ) (64,281 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,542

181,219

CREDITORS
Amounts falling due after more than
one year

5

73,003

77,972
NET ASSETS 105,539 103,247

CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve 7 60,000 60,000
Retained earnings 7 45,439 43,147
SHAREHOLDERS' FUNDS 105,539 103,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Abel Letting & Property Management Ltd (Registered number: 05610501)

Abridged Balance Sheet - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





J McVay - Director


Abel Letting & Property Management Ltd (Registered number: 05610501)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Abel Letting & Property Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Abel Letting & Property Management Ltd (Registered number: 05610501)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 274,586
Additions 339
At 31 March 2024 274,925
DEPRECIATION
At 1 April 2023 29,086
Charge for year 209
At 31 March 2024 29,295
NET BOOK VALUE
At 31 March 2024 245,630
At 31 March 2023 245,500

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
31.3.24 31.3.23
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 73,003 77,972

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

Abel Letting & Property Management Ltd (Registered number: 05610501)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 43,147 60,000 103,147
Profit for the year 2,292 2,292
At 31 March 2024 45,439 60,000 105,439

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J McVay.

Abel Letting & Property Management Ltd

Report of the Accountants to the Directors of
Abel Letting & Property Management Ltd

The following reproduces the text of the report prepared for the directors 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 Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Moss & Co (Direct Accounts) Limited
Rapley House
29 Creek Road
Hayling Island
Hampshire
PO11 9QZ


9 September 2024