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Company Registration No. 04060002 (England and Wales)
22nd Century Property Limited Unaudited accounts for the year ended 31 March 2024
22nd Century Property Limited Unaudited accounts Contents
Page
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22nd Century Property Limited Company Information for the year ended 31 March 2024
Director
C J Lonergan
Secretary
T C Lonergan
Company Number
04060002 (England and Wales)
Registered Office
7 Carswell Close Hutton Brentwood Essex CM13 1PD England
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22nd Century Property Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,978 
7,970 
Investment property
2,500,000 
3,700,000 
2,505,978 
3,707,970 
Current assets
Debtors
186,999 
197,429 
Cash at bank and in hand
77,648 
134,451 
264,647 
331,880 
Creditors: amounts falling due within one year
(32,811)
(43,190)
Net current assets
231,836 
288,690 
Total assets less current liabilities
2,737,814 
3,996,660 
Creditors: amounts falling due after more than one year
(1,309,263)
(1,353,259)
Provisions for liabilities
Deferred tax
(118,737)
(168,737)
Net assets
1,309,814 
2,474,664 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
427,457 
627,457 
Profit and loss account
882,257 
1,847,107 
Shareholders' funds
1,309,814 
2,474,664 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 October 2024 and were signed on its behalf by
C J Lonergan Director Company Registration No. 04060002
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22nd Century Property Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
22nd Century Property Limited is a private company, limited by shares, registered in England and Wales, registration number 04060002. The registered office is 7 Carswell Close, Hutton, Brentwood, Essex, CM13 1PD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
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22nd Century Property Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
9,360 
5,697 
15,057 
At 31 March 2024
9,360 
5,697 
15,057 
Depreciation
At 1 April 2023
5,191 
1,896 
7,087 
Charge for the year
1,042 
950 
1,992 
At 31 March 2024
6,233 
2,846 
9,079 
Net book value
At 31 March 2024
3,127 
2,851 
5,978 
At 31 March 2023
4,169 
3,801 
7,970 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
3,700,000 
Disposals
(1,200,000)
At 31 March 2024
2,500,000 
The valuations were made by the director, on an open market value for existing use basis. If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows: £2,025,053.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
172 
Amounts due from group undertakings etc.
167,235 
167,235 
Accrued income and prepayments
- 
1,346 
Other debtors
19,764 
28,676 
186,999 
197,429 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
367 
511 
Amounts owed to group undertakings and other participating interests
23,447 
35,447 
Taxes and social security
1,956 
335 
Other creditors
5,061 
4,917 
Accruals
1,980 
1,980 
32,811 
43,190 
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22nd Century Property Limited Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,309,263 
1,353,259 
The bank loans are secured against properties included in these financial statements.
9
Transactions with related parties
At the balance sheet date, the company was owed £167,235 (2023: £167,235) from T & R Property Limited, a related party, by virtue of ownership by T C Lonergan, a family member. At the balance sheet date, the company owed £23,447 (2023: £35,447) to T & R Enterprises Limited, a related party, by virtue of ownership by C J Lonergan.
10
Controlling party
The ultimate parent company is T&R Enterprises Limited, a company incorporated in England & Wales. The ultimate controlling party is C J Lonergan due to his majority shareholding in T & R Enterprises Limited.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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