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Acrestone Properties Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Acrestone Properties Ltd (Registered number: 05064772)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Acrestone Properties Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R Wright





REGISTERED OFFICE: 48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG





REGISTERED NUMBER: 05064772 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

Acrestone Properties Ltd (Registered number: 05064772)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,585,000 1,441,330

CURRENT ASSETS
Debtors 5 517 374
Cash at bank and in hand 102,322 12,341
102,839 12,715
CREDITORS
Amounts falling due within one year 6 489,283 507,971
NET CURRENT LIABILITIES (386,444 ) (495,256 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,198,556

946,074

CREDITORS
Amounts falling due after more than one
year

7

(96,280

)

(191,153

)

PROVISIONS FOR LIABILITIES (204,189 ) (141,988 )
NET ASSETS 898,087 612,933

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 612,568 425,963
Retained earnings 285,419 186,870
SHAREHOLDERS' FUNDS 898,087 612,933

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 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.

Acrestone Properties Ltd (Registered number: 05064772)

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.

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 5 June 2024 and were signed by:





R Wright - Director


Acrestone Properties Ltd (Registered number: 05064772)

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

1. STATUTORY INFORMATION

Acrestone Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rents receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,441,330
Disposals (105,137 )
Revaluations 248,807
At 31 March 2024 1,585,000
NET BOOK VALUE
At 31 March 2024 1,585,000
At 31 March 2023 1,441,330

Investment properties were valued using market data by the director on 31st March 2024.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 517 374

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,620 28,331
Taxation and social security 32,622 11,590
Other creditors 428,041 468,050
489,283 507,971

Acrestone Properties Ltd (Registered number: 05064772)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 96,280 191,153

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 15,774 97,731

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023 425,963
Fair value reserve 186,605

At 31 March 2024 612,568

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Wright.