Exe Property Limited 14046996 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Other letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true 14046996 2023-05-01 2024-04-30 14046996 2024-04-30 14046996 core:OtherReservesSubtotal 2024-04-30 14046996 core:RetainedEarningsAccumulatedLosses 2024-04-30 14046996 core:ShareCapital 2024-04-30 14046996 core:CurrentFinancialInstruments 2024-04-30 14046996 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14046996 core:Non-currentFinancialInstruments 2024-04-30 14046996 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 14046996 bus:SmallEntities 2023-05-01 2024-04-30 14046996 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 14046996 bus:FullAccounts 2023-05-01 2024-04-30 14046996 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 14046996 bus:RegisteredOffice 2023-05-01 2024-04-30 14046996 bus:Director1 2023-05-01 2024-04-30 14046996 bus:Director2 2023-05-01 2024-04-30 14046996 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14046996 countries:EnglandWales 2023-05-01 2024-04-30 14046996 2023-04-30 14046996 2022-04-14 2023-04-30 14046996 2023-04-30 14046996 core:OtherReservesSubtotal 2023-04-30 14046996 core:RetainedEarningsAccumulatedLosses 2023-04-30 14046996 core:ShareCapital 2023-04-30 14046996 core:CurrentFinancialInstruments 2023-04-30 14046996 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 14046996 core:Non-currentFinancialInstruments 2023-04-30 14046996 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 14046996

Exe Property Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Exe Property Limited
(Registration number: 14046996)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Exe Property Limited
(Registration number: 14046996)

Company Information

Directors

W J Marsh

D H Marsh

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Exe Property Limited
(Registration number: 14046996)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

860,000

309,350

Current assets

 

Debtors

5

449

651

Cash at bank and in hand

 

6,987

3,532

 

7,436

4,183

Creditors: Amounts falling due within one year

6

(272,620)

(94,860)

Net current liabilities

 

(265,184)

(90,677)

Total assets less current liabilities

 

594,816

218,673

Creditors: Amounts falling due after more than one year

6

(591,054)

(221,495)

Provisions for liabilities

(644)

-

Net assets/(liabilities)

 

3,118

(2,822)

Capital and reserves

 

Called up share capital

100

100

Other reserves

2,743

-

Profit and loss account

275

(2,922)

Total equity

 

3,118

(2,822)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Exe Property Limited
(Registration number: 14046996)

Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 January 2025 and signed on its behalf by:
 

.........................................
W J Marsh
Director

.........................................
D H Marsh
Director

 

Exe Property Limited
(Registration number: 14046996)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Exe Property Limited
(Registration number: 14046996)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Exe Property Limited
(Registration number: 14046996)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 May

309,350

Additions

547,263

Fair value adjustments

3,387

At 30 April

860,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Prepayments and accrued income

449

651

Total current trade and other debtors

449

651

 

Exe Property Limited
(Registration number: 14046996)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

170

-

Other creditors

271,442

93,900

Accrued expenses

1,008

960

272,620

94,860

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

591,054

221,495

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

591,054

221,495