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Registered Number: 12636313
England and Wales

 

 

 

ASTUTE PROPERTY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,301,447    962,710 
1,301,447    962,710 
Current assets      
Debtors 4 2,542    1,106 
Cash at bank and in hand 12,351    132,896 
14,893    134,002 
Creditors: amount falling due within one year 5 (20,505)   (9,579)
Net current assets (5,612)   124,423 
 
Total assets less current liabilities 1,295,835    1,087,133 
Creditors: amount falling due after more than one year 6 (1,209,190)   (1,004,245)
Net assets 86,645    82,888 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 86,545    82,788 
Shareholders' funds 86,645    82,888 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 October 2024 and were signed on its behalf by:


-------------------------------
Carl Hickman
Director
1
General Information
Astute Property Limited is a private company, limited by shares, registered in England and Wales, registration number 12636313, registration address 25 Weymouth Drive, Houghton Le Spring, Tyne & Wear, DH4 7TQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the going concern and the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings Nil Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. 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.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 July 2023 962,710    962,710 
Additions 261,079    261,079 
Disposals  
Revaluations 77,658    77,658 
At 30 June 2024 1,301,447    1,301,447 
Depreciation
At 01 July 2023  
Charge for year  
On disposals  
At 30 June 2024  
Net book values
Closing balance as at 30 June 2024 1,301,447    1,301,447 
Opening balance as at 01 July 2023 962,710    962,710 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 2,542    1,106 
2,542    1,106 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 10,426    3,793 
Prepaid Income 2,070    2,870 
Director 1 Current Account 1,254    751 
Director 2 Current Account 6,755    2,165 
20,505    9,579 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 163,969    155,000 
Mortgages 805,221    609,245 
Director 2 Loan Account 120,000    120,000 
Director 1 Loan Account 120,000    120,000 
1,209,190    1,004,245 

7.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £8,009 (2023 - £2,916).
8.

Disclosure of controlling party

For the whole of the period under review the company was under the control of Carl Hickman and Jonathan Chicken, directors of the company.
2