Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11854219 Oluwaseun Olushanu Godwin Adegbite Adeshanu Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11854219 2023-03-31 11854219 2024-03-31 11854219 2023-04-01 2024-03-31 11854219 frs-core:CurrentFinancialInstruments 2024-03-31 11854219 frs-core:Non-currentFinancialInstruments 2024-03-31 11854219 frs-core:ShareCapital 2024-03-31 11854219 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11854219 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11854219 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11854219 frs-bus:SmallEntities 2023-04-01 2024-03-31 11854219 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11854219 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11854219 1 2023-04-01 2024-03-31 11854219 frs-bus:Director1 2023-04-01 2024-03-31 11854219 frs-bus:Director2 2023-04-01 2024-03-31 11854219 frs-countries:EnglandWales 2023-04-01 2024-03-31 11854219 2022-03-31 11854219 2023-03-31 11854219 2022-04-01 2023-03-31 11854219 frs-core:CurrentFinancialInstruments 2023-03-31 11854219 frs-core:Non-currentFinancialInstruments 2023-03-31 11854219 frs-core:ShareCapital 2023-03-31 11854219 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11854219
Adeshanu Property Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11854219
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,200,000 1,200,000
1,200,000 1,200,000
CURRENT ASSETS
Cash at bank and in hand - 354
- 354
Creditors: Amounts Falling Due Within One Year 5 (253,183 ) (244,113 )
NET CURRENT ASSETS (LIABILITIES) (253,183 ) (243,759 )
TOTAL ASSETS LESS CURRENT LIABILITIES 946,817 956,241
Creditors: Amounts Falling Due After More Than One Year 6 (750,813 ) (760,284 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (72,285 ) (72,285 )
NET ASSETS 123,719 123,672
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 123,619 123,572
SHAREHOLDERS' FUNDS 123,719 123,672
Page 1
Page 2
For the year ending 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Oluwaseun Olushanu
Director
06/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Adeshanu Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11854219 . The registered office is 3 Russell Close, Witham, CM8 1UH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Reveue is measured at the fair value of the consideration received, excluding discounts, rebates and VAT. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
2.3. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 1,200,000
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,193 10,648
Other creditors 5,623 5,623
Accruals and deferred income 1,320 1,321
Directors' loan accounts 24,716 19,450
Amounts owed to group undertakings 211,331 207,071
253,183 244,113
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6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 750,813 760,284
7. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 737,699 737,699
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Adeshanu LtdParent companyAt 31 March 2024, the company owed Adeshanu Ltd £210,281 (2023: £206,571).

Adeshanu Ltd

Parent company

At 31 March 2024, the company owed Adeshanu Ltd £210,281 (2023: £206,571).

Oluwaseun OlushanuDirectorAt 31 March 2024, the company owed the Director £9,889 (2023: £7,710).

Oluwaseun Olushanu

Director

At 31 March 2024, the company owed the Director £9,889 (2023: £7,710).

Godwin AdegbiteDirectorAt 31 March 2024, the company owed the Director £14,827 (2023: £11,740).

Godwin Adegbite

Director

At 31 March 2024, the company owed the Director £14,827 (2023: £11,740).

Morenike Investments LtdCommon directorshipAt 31 March 2024, Morenike Investment Ltd owed the company £1,049 (2023: £500)

Morenike Investments Ltd

Common directorship

At 31 March 2024, Morenike Investment Ltd owed the company £1,049 (2023: £500)

10. Ultimate Controlling Party
The company's ultimate controlling parent is Adeshanu Ltd by virtue of the ownership of 100% of the issued share capital in
the company.
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