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REGISTERED NUMBER: 00514281 (England and Wales)









A G EDGECOMBE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






A G EDGECOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 00514281)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


A G EDGECOMBE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs C Kendrick
Mrs A S Boston





SECRETARY: Mrs C Kendrick





REGISTERED OFFICE: 7 Sandy Court
Ashleigh Way
Plymouth
Devon
PL7 5JX





REGISTERED NUMBER: 00514281 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

A G EDGECOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 00514281)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 1,987,000 1,987,000
1,987,000 1,987,000

CURRENT ASSETS
Debtors 491 987
Cash at bank 163,161 139,111
163,652 140,098
CREDITORS
Amounts falling due within one year 255,734 178,050
NET CURRENT LIABILITIES (92,082 ) (37,952 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,894,918 1,949,048

CAPITAL AND RESERVES
Called up share capital 8,724 8,724
Capital redemption reserve 238 238
Retained earnings 1,885,956 1,940,086
SHAREHOLDERS' FUNDS 1,894,918 1,949,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 October 2024 and were signed on its behalf by:





Mrs A S Boston - Director


A G EDGECOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 00514281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

A G Edgecombe 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents rental income due to the company. Income is recognised in accordance with the rental agreements for each property/site.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on cost

No depreciation is charged on investments or freehold properties.

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property
Investment properties are shown at their open market value as carried out by the directors latest valuation and considered for impairment annually by the directors. Any gain or loss arising from the annual revaluations is recognised in the profit and loss account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Fixed asset investments
Investments held in unit trusts are shown at their open market value. Any gain or loss arising in the year is taken to the profit and loss account. The surplus/deficit arising from the annual revaluation is recognised in the profit and loss account.


A G EDGECOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 00514281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

Development costs
The company has elected to capitalise any development costs that meet the definition of an asset and will generate income for the company in the future. Any Development costs that are on a client assignment and generate revenue will be expense in the profit and loss account.

Grant income
Income received in relation to grants are classified either as relating to revenue or to assets.

Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Where a timing difference arises, the income is held on the balance sheet. When received in arrears the expected income is recognises as a debtor so long as the relevant conditions have been satisfied. When received in advance of costs, the income is held as deferred income and systematically released to the profit and loss in the periods the cost is incurred.

Grants relating to assets are recognised initially as deferred income and released to other income on a systematic basis over the expected useful life of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

A G EDGECOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 00514281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 525
DEPRECIATION
At 1 April 2023
and 31 March 2024 525
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. INVESTMENT PROPERTY

The value at 31 March 2024 is £1,987,000 (2023: £1,987,000) which relates to assets held for use in operating leases.

The investment property was valued on an open market basis by the directors.

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 56,780 -

The bank loan is a bridging loan secured against the investment property, 251 Ridgeway, Plympton, Plymouth, PL7 1AJ and 257 Ridgeway, Plympton, Plymouth, PL7 5AJ which is held by the company.

At the year-end the accounts show the amount drawn of £50,000 plus fees totalling £56,780 on a maximum facility of £350,000.

8. POST BALANCE SHEET EVENTS

The company entered into a contract for renovation works to the property after the year end. The expected spend is £300,000 - £400,000.
There is currently a claim being processed against the previous tenant to repay these costs.