Company registration number 13598560 (England and Wales)
ADAM TURNER PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ADAM TURNER PROPERTIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ADAM TURNER PROPERTIES LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
182,110
182,110
Current assets
Cash at bank and in hand
1,902
2,120
Creditors: amounts falling due within one year
4
(60,243)
(58,171)
Net current liabilities
(58,341)
(56,051)
Total assets less current liabilities
123,769
126,059
Creditors: amounts falling due after more than one year
5
(124,526)
(127,201)
Net liabilities
(757)
(1,142)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(857)
(1,242)
Total equity
(757)
(1,142)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 19 December 2024 and are signed on its behalf by:
Mr A L Turner
Miss L Baker
Director
Director
Company registration number 13598560 (England and Wales)
ADAM TURNER PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Adam Turner Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents income from investment property and is derived from ordinary activities.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
182,110

Investment property comprises of a residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

ADAM TURNER PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,675
2,583
Other creditors
57,568
55,588
60,243
58,171

Included within bank loans is £2,675 (2023: £2,583) of mortgage secured against leasehold property.

5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
124,526
127,201

Included within bank loans and overdrafts is £124,526 (2023: £127,201) of mortgage secured against leasehold property.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
112,851
115,923
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