ADLEC Property Limited Filleted Accounts Cover
ADLEC Property Limited
Company No. 10716546
Information for Filing with The Registrar
31 March 2024
ADLEC Property Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was that of property investment and rental.
Director
The Director who served at any time during the year was as follows:
A. Collingwood
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
A. Collingwood
Director
02 September 2024
ADLEC Property Limited Balance Sheet Registrar
at
31 March 2024
Company No.
10716546
Notes
2024
2023
£
£
Fixed assets
Investment property
4
100,000100,000
100,000100,000
Current assets
Cash at bank and in hand
932,659922,040
932,659922,040
Creditors: Amount falling due within one year
5
(6,288)
(26,036)
Net current assets
926,371896,004
Total assets less current liabilities
1,026,371996,004
Creditors: Amounts falling due after more than one year
6
(866,110)
(844,985)
Provisions for liabilities
Deferred taxation
(5,787)
(5,787)
Net assets
154,474145,232
Capital and reserves
Called up share capital
22
Revaluation reserve
7
26,30126,301
Profit and loss account
7
128,171118,929
Total equity
154,474145,232
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 02 September 2024 and signed on its behalf by:
A. Collingwood
Director
02 September 2024
ADLEC Property Limited Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
ADLEC Property Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 10716546
Its registered office is:
Unit 19A
Prescot Business Park
Prescot
L34 1QL
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2023
100,000
At 31 March 2024
100,000
5
Creditors:
amounts falling due within one year
2024
2023
£
£
Taxes and social security
5,687
25,436
Accruals and deferred income
601600
6,28826,036
6
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Other creditors
866,110844,985
866,110844,985
7
Reserves
Revaluation Reserve
Total other reserves
£
£
At 1 April 2022
26,301
26,301
At 31 March 2023 and 1 April 2023
26,301
26,301
At 31 March 2024
26,30126,301
Revaluation reserve - reflects the revaluation of property other than investment properties.
Profit and loss account - includes all current and prior period retained profits and losses.
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