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REGISTERED NUMBER: 11763668 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

ADF Property Rentals Limited

ADF Property Rentals Limited (Registered number: 11763668)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ADF Property Rentals Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr A D Fox





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 11763668 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

ADF Property Rentals Limited (Registered number: 11763668)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 323,872 323,872

CURRENT ASSETS
Debtors 5 209 205
Cash at bank 10,564 15,978
10,773 16,183
CREDITORS
Amounts falling due within one year 6 234,465 261,379
NET CURRENT LIABILITIES (223,692 ) (245,196 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,180

78,676

PROVISIONS FOR LIABILITIES 6,720 6,720
NET ASSETS 93,460 71,956

CAPITAL AND RESERVES
Called up share capital 190 190
Retained earnings 93,270 71,766
93,460 71,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2024 and were signed by:



Mr A D Fox - Director


ADF Property Rentals Limited (Registered number: 11763668)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

ADF Property Rentals 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Revenue recognition
Revenue is represented by rental income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 323,872
NET BOOK VALUE
At 29 February 2024 323,872
At 28 February 2023 323,872

ADF Property Rentals Limited (Registered number: 11763668)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2021 15,367
Valuation in 2022 20,000
Cost 288,505
323,872

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 288,506 288,506
Aggregate depreciation (11,407 ) (8,608 )

Investment property was valued on an open market basis on 29 February 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 209 205

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 5,044 3,765
Other creditors 229,421 257,614
234,465 261,379

7. RELATED PARTY DISCLOSURES

During the year the company was loaned money from A D F Building Contractors Limited who share the same director. The amount owed by the company at the year end date was £103,902.63 (2023 £156,258.35). The loan is repayable on demand and interest free.