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REGISTERED NUMBER: 07599135 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

ABODEBED LIMITED

ABODEBED LIMITED (REGISTERED NUMBER: 07599135)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABODEBED LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: M Fieldman
Mrs L Fieldman





REGISTERED OFFICE: 10 London Mews
LONDON
W2 1HY





REGISTERED NUMBER: 07599135 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

ABODEBED LIMITED (REGISTERED NUMBER: 07599135)

BALANCE SHEET
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,874 18,143
Investment property 6 723,969 723,969
738,843 742,112

CURRENT ASSETS
Debtors 7 45,583 86,429
Cash at bank 49 45,312
45,632 131,741
CREDITORS
Amounts falling due within one year 8 232,338 259,869
NET CURRENT LIABILITIES (186,706 ) (128,128 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,137

613,984

CREDITORS
Amounts falling due after more than one
year

9

289,846

309,147
NET ASSETS 262,291 304,837

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 262,191 304,737
SHAREHOLDERS' FUNDS 262,291 304,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

ABODEBED LIMITED (REGISTERED NUMBER: 07599135)

BALANCE SHEET - continued
30 April 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 30 October 2024 and were signed on its behalf by:





M Fieldman - Director


ABODEBED LIMITED (REGISTERED NUMBER: 07599135)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Abodebed 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.

The accounts are prepared on a going concern basis. The directors believe this to be appropriate on the basis that they have received assurances from the creditors that they will not require the repayment of advances made by them to the company until the company has adequate funds to remain solvent.

Turnover
Turnover represents air bed and breakfast income net of VAT and discounts.

Rendering of services

The income included in the accounts is recognised for every completed nights stay.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance

Investment property
In accordance with FRS102, Section 1A, the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on annual revaluation of such properties are transferred to the profit and loss account.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.


ABODEBED LIMITED (REGISTERED NUMBER: 07599135)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 59,337
AMORTISATION
At 1 May 2023
and 30 April 2024 59,337
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

ABODEBED LIMITED (REGISTERED NUMBER: 07599135)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023 75,365
Additions 1,688
At 30 April 2024 77,053
DEPRECIATION
At 1 May 2023 57,222
Charge for year 4,957
At 30 April 2024 62,179
NET BOOK VALUE
At 30 April 2024 14,874
At 30 April 2023 18,143

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 723,969
NET BOOK VALUE
At 30 April 2024 723,969
At 30 April 2023 723,969

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2017 57,236
Cost 666,733
723,969

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 9,074 39,845
Other debtors 36,509 46,584
45,583 86,429

ABODEBED LIMITED (REGISTERED NUMBER: 07599135)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 26,802 29,908
Trade creditors 107,631 55,644
Taxation and social security 9,595 22,998
Other creditors 88,310 151,319
232,338 259,869

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 289,846 309,147

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 221,511 222,679

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 310,774 332,278

National Westminster bank holds a 1st legal charge over the leasehold property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100