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REGISTERED NUMBER: 11030312 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 October 2023

for


Ahir Properties Limited


Ahir Properties Limited (Registered number: 11030312)







Contents of the Financial Statements

for the Year Ended 31 October 2023





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4




Ahir Properties Limited


Company Information

for the Year Ended 31 October 2023









DIRECTORS:

Mr Rajesh Ahir


Mrs Bimla Rani Ahir







REGISTERED OFFICE:

272 Chase Side


London


N14 4PR







REGISTERED NUMBER:

11030312 (England and Wales)







ACCOUNTANTS:

Chris Pantazis Ltd T/A CPS & Co


Chartered Accountants


10A Aldermans Hill


Palmers Green


London


N13 4PJ


Ahir Properties Limited (Registered number: 11030312)


Balance Sheet

31 October 2023



31.10.23

31.10.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

33,158,607


34,534,476




CURRENT ASSETS

Debtors

5

286,147


16,572



Cash at bank and in hand

350,028


622,589



636,175


639,161



CREDITORS

Amounts falling due within one year

6

427,979


776,630



NET CURRENT ASSETS/(LIABILITIES)

208,196


(137,469

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

33,366,803


34,397,007




CREDITORS

Amounts falling due after more than one year

7

(14,503,690

)

(15,345,508

)



PROVISIONS FOR LIABILITIES

9

(12,182

)

(12,182

)


NET ASSETS

18,850,931


19,039,317




CAPITAL AND RESERVES

Called up share capital

10

18,333,940


18,333,940



Revaluation reserve

11

64,114


64,114



Retained earnings

11

452,877


641,263



SHAREHOLDERS' FUNDS

18,850,931


19,039,317




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their 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.


Ahir Properties Limited (Registered number: 11030312)


Balance Sheet - continued

31 October 2023



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 Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:






Mr Rajesh Ahir - Director



Ahir Properties Limited (Registered number: 11030312)


Notes to the Financial Statements

for the Year Ended 31 October 2023


1.

STATUTORY INFORMATION



Ahir Properties 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.


The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Computer equipment

-

25% on reducing balance



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.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 4 (2022 - 4 ) .


Ahir Properties Limited (Registered number: 11030312)


Notes to the Financial Statements - continued

for the Year Ended 31 October 2023


4.

TANGIBLE FIXED ASSETS


Freehold



& Leasehold


Computer



Prop


equipment


Totals

£   

£   

£   



COST OR VALUATION


At 1 November 2022

34,531,000


5,762


34,536,762




Reclassification/transfer

(1,375,000

)

-


(1,375,000

)



At 31 October 2023

33,156,000


5,762


33,161,762




DEPRECIATION


At 1 November 2022

-


2,286


2,286




Charge for year

-


869


869




At 31 October 2023

-


3,155


3,155




NET BOOK VALUE


At 31 October 2023

33,156,000


2,607


33,158,607




At 31 October 2022

34,531,000


3,476


34,534,476





Cost or valuation at 31 October 2023 is represented by:



Freehold



& Leasehold


Computer



Prop


equipment


Totals

£   

£   

£   



Cost

33,156,000


5,762


33,161,762




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.10.23


31.10.22

£   

£   



Other debtors

5,000


5,000




Directors' current accounts

272,676


-




Prepayments and accrued income

8,471


11,572



286,147


16,572




6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.10.23


31.10.22

£   

£   



Bank loans and overdrafts (see note 8)

10,782


10,920




Other loans (see note 8)

100,000


136,705




Tax

206,346


220,177




Other creditors

84,058


78,487




PAYE & NI

693


456




Directors' current accounts

-


233,285




Accrued expenses

26,100


96,600



427,979


776,630




Ahir Properties Limited (Registered number: 11030312)


Notes to the Financial Statements - continued

for the Year Ended 31 October 2023


7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.10.23


31.10.22

£   

£   



Bank loans (see note 8)

14,127,235


15,005,758




Other loans (see note 8)

376,455


339,750



14,503,690


15,345,508





Amounts falling due in more than five years:



Repayable otherwise than by instalments


Bank loans more than 5 years

14,112,239


14,980,989




8.

LOANS



An analysis of the maturity of loans is given below:



31.10.23


31.10.22

£   

£   



Amounts falling due within one year or on demand:


Bank Loan

10,782


10,920




Other Loans less than one year

100,000


136,705



110,782


147,625





Amounts falling due between one and two years:


Other loans - 1-2 years

376,455


339,750





Amounts falling due between two and five years:


Bounce Bank loan

14,996


24,769





Amounts falling due in more than five years:


Repayable otherwise than by instalments


Bank loans more than 5 years

14,112,239


14,980,989




9.

PROVISIONS FOR LIABILITIES


31.10.23


31.10.22

£   

£   



Deferred tax

12,182


12,182





Deferred



tax


£   



Balance at 1 November 2022

12,182




Balance at 31 October 2023

12,182




Ahir Properties Limited (Registered number: 11030312)


Notes to the Financial Statements - continued

for the Year Ended 31 October 2023


10.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.10.23


31.10.22


value:

£   

£   



2

Ordinary

£1.00

2


2




98

Ordinary

£187,081

18,333,938


18,333,938



18,333,940


18,333,940




11.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 November 2022

641,263


64,114


705,377




Deficit for the year

(70,386

)

(70,386

)



Dividends

(118,000

)

(118,000

)



At 31 October 2023

452,877


64,114


516,991