Company registration number 12266219 (England and Wales)
3975 PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
3975 PROPERTIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
3975 PROPERTIES LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
3,882,160
2,905,275
Current assets
Debtors
4
2,537
1
Cash at bank and in hand
2,881
14,520
5,418
14,521
Creditors: amounts falling due within one year
5
(3,916,554)
(2,940,312)
Net current liabilities
(3,911,136)
(2,925,791)
Net liabilities
(28,976)
(20,516)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(28,977)
(20,517)
Total equity
(28,976)
(20,516)

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

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year 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.

The financial statements were approved by the board of directors and authorised for issue on 22 May 2024 and are signed on its behalf by:
Zach Crompton
Director
Company Registration No. 12266219
3975 PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

3975 Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 285, 79 Friar Street, Worcester, WR1 2NT.

1.1
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 £.

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.

1.2
Investment properties

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.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.

Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

1.5
Taxation

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

2
Employees

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

2023
2022
Number
Number
Total
2
2
3975 PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Investment property
2023
£
Fair value
At 1 January 2023
2,905,274
Additions
976,886
At 31 December 2023
3,882,160
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,537
1
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
3,915,414
2,939,322
Other creditors
1,140
990
3,916,554
2,940,312
6
Related party transactions

At the year end 3975 Properties Limited owed £22,414 to 3975 Limited and £3,893,000 to 3975 Holdings Limited. They are all related by common ownership.

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