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REGISTERED NUMBER: 04540153 (England and Wales)















Unaudited Financial Statements

for the Period 1 October 2022 to 31 March 2024

for

ANGEL PROPERTY INVESTMENTS LIMITED

ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ANGEL PROPERTY INVESTMENTS LIMITED

Company Information
for the Period 1 October 2022 to 31 March 2024







DIRECTORS: A J Margolis
Mrs L Margolis





REGISTERED OFFICE: Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX





REGISTERED NUMBER: 04540153 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)

Balance Sheet
31 March 2024

31.3.24 30.9.22
Notes £    £   
FIXED ASSETS
Investment property 4 2,850,000 18,521,733

CURRENT ASSETS
Debtors 5 1,352,524 1,448,675
Investments 6 740,992 -
Cash at bank 187,688 264,662
2,281,204 1,713,337
CREDITORS
Amounts falling due within one year 7 (426,956 ) (335,984 )
NET CURRENT ASSETS 1,854,248 1,377,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,704,248

19,899,086

CREDITORS
Amounts falling due after more than one
year

8

-

(8,950,000

)

PROVISIONS FOR LIABILITIES 9 - (1,056,292 )

ACCRUALS AND DEFERRED INCOME (75,254 ) (225,717 )
NET ASSETS 4,628,994 9,667,077

CAPITAL AND RESERVES
Called up share capital 10 662,502 662,502
Capital redemption reserve 11 1,600,000 1,600,000
Retained earnings 11 2,366,492 7,404,575
SHAREHOLDERS' FUNDS 4,628,994 9,667,077

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 29 December 2024 and were signed on its behalf by:





A J Margolis - Director


ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

Angel Property Investments 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. 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

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 end of the financial period.

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised to the profit and loss account.

ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the period 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.


ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2022 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 18,521,733
Disposals (14,421,733 )
Revaluations (1,250,000 )
At 31 March 2024 2,850,000
NET BOOK VALUE
At 31 March 2024 2,850,000
At 30 September 2022 18,521,733

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 (145,282 )
Valuation in 2018 (300,000 )
Valuation in 2020 246,947
Valuation in 2023 (1,250,000 )
Cost 4,298,335
2,850,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 30.9.22
£    £   
Cost 4,298,335 10,296,679

Investment properties were valued on an open market value basis on 31 March 2024 by the directors .

ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.9.22
£    £   
Rent Debtor 15,560 13,285
Service charge debtor (3,465 ) (1,711 )
Property Agent 13,334 241,624
Other Debtors 429,460 429,460
Sundry debtors 220,394 220,394
Babylon settlement 630,014 528,710
Prepayments 47,227 16,913
1,352,524 1,448,675

6. CURRENT ASSET INVESTMENTS
31.3.24 30.9.22
£    £   
Money market 5222898 440,000 -
Money market 5228340 300,992 -
740,992 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.9.22
£    £   
Metrus - Service charge - 29,442
Metrus - Rents - 21,311
Tax 422,674 59,404
Social security and other taxes (22,392 ) 32,682
VAT 8,955 69,683
Directors' current accounts 199 199
Accrued expenses 17,520 123,263
426,956 335,984

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 30.9.22
£    £   
Bank loans - 2-5 years - 8,950,000

9. PROVISIONS FOR LIABILITIES
31.3.24 30.9.22
£    £   
Deferred tax - 1,056,292

Deferred
tax
£   
Balance at 1 October 2022 1,056,292
Unused amounts reversed during period (1,056,292 )
Balance at 31 March 2024 -

ANGEL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 04540153)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 30.9.22
value: £    £   
662,502 Ordinary £1 662,502 662,502

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2022 7,404,575 1,600,000 9,004,575
Deficit for the period (4,777,483 ) (4,777,483 )
Dividends (260,600 ) (260,600 )
At 31 March 2024 2,366,492 1,600,000 3,966,492

Included within retained earnings is an amount of £1,448,335 accumulated loss (2022 - £7,168,762 accumulated profit) which is non-distributable as this relates to investment property revaluations, net of deferred taxation.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2024 and the year ended 30 September 2022:

31.3.24 30.9.22
£    £   
A J Margolis
Balance outstanding at start of period 429,460 429,460
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 429,460 429,460

13. ULTIMATE CONTROLLING PARTY

The controlling party is Trustees of The Babylon Settlement.