Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07691220 2023-08-01 2024-07-31 07691220 2022-08-01 2023-07-31 07691220 2024-07-31 07691220 2023-07-31 07691220 c:Director1 2023-08-01 2024-07-31 07691220 d:Buildings 2023-08-01 2024-07-31 07691220 d:Buildings 2024-07-31 07691220 d:Buildings 2023-07-31 07691220 d:CurrentFinancialInstruments 2024-07-31 07691220 d:CurrentFinancialInstruments 2023-07-31 07691220 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07691220 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07691220 d:ShareCapital 2024-07-31 07691220 d:ShareCapital 2023-07-31 07691220 d:RetainedEarningsAccumulatedLosses 2024-07-31 07691220 d:RetainedEarningsAccumulatedLosses 2023-07-31 07691220 c:OrdinaryShareClass1 2023-08-01 2024-07-31 07691220 c:OrdinaryShareClass1 2024-07-31 07691220 c:OrdinaryShareClass1 2023-07-31 07691220 c:FRS102 2023-08-01 2024-07-31 07691220 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07691220 c:FullAccounts 2023-08-01 2024-07-31 07691220 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07691220 2 2023-08-01 2024-07-31 07691220 6 2023-08-01 2024-07-31 07691220 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07691220









ABSB PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
ABSB PROPERTIES LIMITED
REGISTERED NUMBER: 07691220

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,707,357
1,672,547

Investments
  
145,352
-

  
1,852,709
1,672,547

Current assets
  

Debtors: amounts falling due within one year
 7 
19,300
19,300

Cash at bank and in hand
  
47,826
143,265

  
67,126
162,565

Creditors: amounts falling due within one year
 8 
(1,707,044)
(1,706,792)

Net current liabilities
  
 
 
(1,639,918)
 
 
(1,544,227)

Total assets less current liabilities
  
212,791
128,320

  

Net assets
  
212,791
128,320


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
212,691
128,220

  
212,791
128,320


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
ABSB PROPERTIES LIMITED
REGISTERED NUMBER: 07691220
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 January 2025.




Alan Terrance Bearfield
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
ABSB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Revenue

Rental income is recognised in the period to which it relates.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
1.5

Investment property

Investment property is carried at fair value determined annually by external valuers and directors, derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
1.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
ABSB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.Accounting policies (continued)

 
1.8

Creditors

Short-term creditors are measured at the transaction price.


2.


General information

ABSB Properties Limited is a private company limited by shares, incorporated in England and Wales. Its registered number is 07691220. The registered office is The Carriage House Bayham Abbey, Lamberhurst, Kent, TN3 8BG.
The company's principal activity is that of investment. 


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgements in applying accounting policies
(i) Valuation of investment properties
The valuation of investment properties has been made by the director based on his personal expertise and knowledge of the market.
b) Critical accounting estimates and assumptions
The Company does not consider there to be any critical estimates and assumptions in applying accounting policies.


4.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
ABSB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Investment property





Freehold investment property

£



Cost or valuation


At 1 August 2023
1,672,547


Additions
34,810



At 31 July 2024

1,707,357






Net book value



At 31 July 2024
1,707,357



At 31 July 2023
1,672,547

The 2024 valuations were made by the directors, on an open market value for existing use basis. 


6.


Fixed asset investments





Listed investments

£



Cost or valuation


Additions
132,734


Revaluations
12,618



At 31 July 2024
145,352





7.


Debtors

2024
2023
£
£


Other debtors
19,300
19,300


Page 5

 
ABSB PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
300
69

Corporation tax
20,722
18,659

Other taxation and social security
2,193
4,235

Other creditors
1,681,829
1,681,829

Accruals and deferred income
2,000
2,000

1,707,044
1,706,792



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


11.


Related party transactions

Included within note 8 to the accounts is a balance of £1,681,829 (2023 - £1,681,829) due to the directors. The balance is included within other creditors.

Page 6