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REGISTERED NUMBER: 03461656 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

ALBANY PROPERTY LIMITED

ALBANY PROPERTY LIMITED (REGISTERED NUMBER: 03461656)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALBANY PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTOR: K J Hatton





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 03461656 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

ALBANY PROPERTY LIMITED (REGISTERED NUMBER: 03461656)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 515,000 515,000

CURRENT ASSETS
Debtors 5 21 21
Investments 6 125,644 122,933
Cash at bank 772,755 753,931
898,420 876,885
CREDITORS
Amounts falling due within one year 7 166,055 182,452
NET CURRENT ASSETS 732,365 694,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,247,365

1,209,433

PROVISIONS FOR LIABILITIES 8 48,750 48,750
NET ASSETS 1,198,615 1,160,683

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 264,263 264,263
Retained earnings 10 934,252 896,320
SHAREHOLDERS' FUNDS 1,198,615 1,160,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ALBANY PROPERTY LIMITED (REGISTERED NUMBER: 03461656)

BALANCE SHEET - continued
30TH APRIL 2024


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

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

The financial statements were approved by the director and authorised for issue on 16th September 2024 and were signed by:





K J Hatton - Director


ALBANY PROPERTY LIMITED (REGISTERED NUMBER: 03461656)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Albany Property Limited 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents gross rents received during the year.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.

ALBANY PROPERTY LIMITED (REGISTERED NUMBER: 03461656)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023
and 30th April 2024 515,000
NET BOOK VALUE
At 30th April 2024 515,000
At 30th April 2023 515,000

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2024 515,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 201,986 201,986

Investment property was valued on an open market basis on 30th April 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 21 21

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 125,644 122,933

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,456 4,702
Other creditors 160,599 177,750
166,055 182,452

ALBANY PROPERTY LIMITED (REGISTERED NUMBER: 03461656)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Property revaluations 48,750 48,750

Deferred
tax
£   
Balance at 1st May 2023 48,750
Balance at 30th April 2024 48,750

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1.00 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st May 2023 896,320 264,263 1,160,583
Profit for the year 37,932 37,932
At 30th April 2024 934,252 264,263 1,198,515