1 May 2023 v2024.57.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP107908172023-05-012024-04-30107908172024-04-30107908172023-04-3010790817core:WithinOneYear2024-04-3010790817core:WithinOneYear2023-04-3010790817core:AfterOneYear2024-04-3010790817core:AfterOneYear2023-04-3010790817core:ShareCapital2024-04-3010790817core:ShareCapital2023-04-3010790817core:RetainedEarningsAccumulatedLosses2024-04-3010790817core:RetainedEarningsAccumulatedLosses2023-04-3010790817bus:Director12023-05-012024-04-3010790817bus:RegisteredOffice2023-05-012024-04-3010790817core:LandBuildings2023-05-0110790817core:PlantMachinery2023-05-01107908172023-05-0110790817core:LandBuildings2023-05-012024-04-3010790817core:LandBuildings2024-04-3010790817core:PlantMachinery2024-04-3010790817core:PlantMachinery2023-05-012024-04-3010790817core:LandBuildings2023-04-3010790817core:PlantMachinery2023-04-301079081712023-05-012024-04-30107908172022-05-012023-04-3010790817countries:EnglandWales2023-05-012024-04-3010790817bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3010790817bus:PrivateLimitedCompanyLtd2023-05-012024-04-3010790817bus:SmallEntities2023-05-012024-04-3010790817bus:FullAccounts2023-05-012024-04-30
Company registration number:
10790817
ABS Property Portfolio Ltd
Unaudited Filleted Financial Statements for the year ended
30 April 2024
ABS Property Portfolio Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of ABS Property Portfolio Ltd
Year ended
30 April 2024
As described on the statement of financial position, the Board of Directors of
ABS Property Portfolio Ltd
are responsible for the preparation of the
financial statements
for the year ended
30 April 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
JDH ACCOUNTANTS & BUSINESS ADVISERS LTD
F2, Enterprise House
Navigation Park
ABERCYNON
RCT
CF45 4SN
United Kingdom
Date:
25 October 2024
ABS Property Portfolio Ltd
Statement of Financial Position
30 April 2024
20242023
Note££
Fixed assets    
Tangible assets 5
1,634,225
 
1,516,955
 
Current assets    
Debtors 6
11,319
 
9,650
 
Cash at bank and in hand
50,537
 
74,889
 
61,856
 
84,539
 
Creditors: amounts falling due within one year 7
(23,196
)
(22,526
)
Net current assets
38,660
 
62,013
 
Total assets less current liabilities 1,672,885   1,578,968  
Creditors: amounts falling due after more than one year 8
(1,533,102
)
(1,478,686
)
Net assets
139,783
 
100,282
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
139,782
 
100,281
 
Shareholders funds
139,783
 
100,282
 
For the year ending
30 April 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These
financial statements
were approved by the board of directors and authorised for issue on
25 October 2024
, and are signed on behalf of the board by:
Mr Paul Evans
Director
Company registration number:
10790817
ABS Property Portfolio Ltd
Notes to the Financial Statements
Year ended
30 April 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
40 Wheatley Place
,
Blackwood
,
NP12 1EU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 May 2023
1,516,430
 
600
 
1,517,030
 
Additions
117,401
  -  
117,401
 
At
30 April 2024
1,633,831
 
600
 
1,634,431
 
Depreciation      
At
1 May 2023
-  
75
 
75
 
Charge -  
131
 
131
 
At
30 April 2024
-  
206
 
206
 
Carrying amount      
At
30 April 2024
1,633,831
 
394
 
1,634,225
 
At 30 April 2023
1,516,430
 
525
 
1,516,955
 

6 Debtors

20242023
££
Trade debtors
11,319
 
9,650
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
11,319
 
9,650
 
Taxation and social security
9,297
 
10,296
 
Other creditors
2,580
 
2,580
 
23,196
 
22,526
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
1,533,102
 
1,445,480
 
Other creditors -  
33,206
 
1,533,102
 
1,478,686