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ALLIBHAI PROPERTIES LIMITED

REPORT OF THE DIRECTOR AND

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2024






ALLIBHAI PROPERTIES LIMITED (REGISTERED NUMBER: 10916131)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ALLIBHAI PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 August 2024







DIRECTOR: S Allibhai



REGISTERED OFFICE: Premier Suite
4 Churchill Court
58 Station Road
North Harrow
HA2 7ST



REGISTERED NUMBER: 10916131 (England and Wales)



ACCOUNTANTS: ADAMS MOORHOUSE LIMITED, Chartered Accountants
4 Churchill Court
58 Station Road
North Harrow
Middlesex
HA2 7ST



BANKERS: Barclays Bank PLC
220 Ealing Road
Alperton
Wembley
Middlesex
HA0 4QH

ALLIBHAI PROPERTIES LIMITED (REGISTERED NUMBER: 10916131)

STATEMENT OF FINANCIAL POSITION
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 529 1,058
Investment property 6 742,500 1,086,621
743,029 1,087,679

CURRENT ASSETS
Debtors 7 733 -
Cash at bank 17,385 16,700
18,118 16,700
CREDITORS
Amounts falling due within one year 8 731,793 735,489
NET CURRENT LIABILITIES (713,675 ) (718,789 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,354

368,890

PROVISIONS FOR LIABILITIES - 67,750
NET ASSETS 29,354 301,140

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 (19,121 ) 257,250
Retained earnings 48,375 43,790
SHAREHOLDERS' FUNDS 29,354 301,140

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

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

ALLIBHAI PROPERTIES LIMITED (REGISTERED NUMBER: 10916131)

STATEMENT OF FINANCIAL POSITION - continued
31 August 2024


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 9 December 2024 and were signed by:





S Allibhai - Director


ALLIBHAI PROPERTIES LIMITED (REGISTERED NUMBER: 10916131)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Allibhai 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

ALLIBHAI PROPERTIES LIMITED (REGISTERED NUMBER: 10916131)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 September 2023
and 31 August 2024 1,900
Depreciation
At 1 September 2023 842
Charge for year 529
At 31 August 2024 1,371
Net book value
At 31 August 2024 529
At 31 August 2023 1,058

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 September 2023 1,086,621
Revaluations (344,121 )
At 31 August 2024 742,500
Net book value
At 31 August 2024 742,500
At 31 August 2023 1,086,621

ALLIBHAI PROPERTIES LIMITED (REGISTERED NUMBER: 10916131)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2018 50,000
Valuation in 2019 25,000
Valuation in 2021 150,000
Valuation in 2023 100,000
Valuation in 2024 (344,121 )
Cost 761,621
742,500

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

2024 2023
£    £   
Cost 761,621 761,621

Investment property was valued on an open market basis on 31 August 2024 by VDBM, Chartered Surveyors. .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 733 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,749 9,750
Amounts owed to group undertakings 700,500 703,500
Taxation and social security 984 6,752
Other creditors 20,560 15,487
731,793 735,489

9. RESERVES
Fair
value
reserve
£   
At 1 September 2023 257,250
Revaluation of assets (276,371 )

At 31 August 2024 (19,121 )

10. CONTINGENT LIABILITIES

As far as the director is aware, there were no contingent liabilities at the balance sheet date.

ALLIBHAI PROPERTIES LIMITED (REGISTERED NUMBER: 10916131)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


11. RELATED PARTY DISCLOSURES

During the year, the company paid £12,500 (2023 £12,500) as management fees to the holding company.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Allibhai Holdings Limited.