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COMPANY REGISTRATION NUMBER: 08440628
Associated Property (UK) Limited
Filleted Unaudited Financial Statements
31 March 2024
Associated Property (UK) Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Associated Property (UK) Limited
Balance Sheet
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
5
3,000,000
3,000,000
Current assets
Debtors
6
538,915
508,282
Cash at bank and in hand
222,369
95,292
---------
---------
761,284
603,574
Creditors: amounts falling due within one year
7
408,893
393,622
---------
---------
Net current assets
352,391
209,952
------------
------------
Total assets less current liabilities
3,352,391
3,209,952
Creditors: amounts falling due after more than one year
8
2,191,194
2,184,694
------------
------------
Net assets
1,161,197
1,025,258
------------
------------
Capital and reserves
Called up share capital
600
600
Profit and loss account
9
1,160,597
1,024,658
------------
------------
Shareholders funds
1,161,197
1,025,258
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Associated Property (UK) Limited
Balance Sheet (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr A Ladwa
Director
Company registration number: 08440628
Associated Property (UK) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, Greater London, HA8 5LD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The rent receivable shown in the profit and loss account represents amounts receivable during the period, exclusive of Value Added Tax.
Investments
Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Investments
Investment property
£
Cost
At 1 April 2023 and 31 March 2024
3,000,000
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
3,000,000
------------
At 31 March 2023
3,000,000
------------
The valuation of the company's investment property was carried out at the reporting date by the directors on an open market basis. No depreciation is provided in respect of investment properties.
The comparable historical cost of the company's investment property would be £2,818,044 (2023: £2,818,044).
6. Debtors
2024
2023
£
£
Other debtors
538,915
508,282
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
46,073
30,804
Social security and other taxes
10,299
10,299
Other creditors
352,521
352,519
---------
---------
408,893
393,622
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,191,194
2,184,694
------------
------------
Other creditors comprise of shareholders loans, which are interest free and with no fixed repayment date. The directors do not foresee any amount of the loans to be repaid within 12 months of the reporting date and therefore they have been disclosed under amounts falling due after more than one year.
9. Profit and loss account
2024 2023
£ £
Distributable reserves 978,641 842,702
Fair value gains on investment property 181,956 181,956
------------ ------------
1,160,597 1,024,658
------------ ------------