IRIS Accounts Production v24.3.2.46 03556974 Board of Directors 1.4.23 31.3.24 31.3.24 0 2 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh035569742023-03-31035569742024-03-31035569742023-04-012024-03-31035569742022-03-31035569742022-04-012023-03-31035569742023-03-3103556974ns15:EnglandWales2023-04-012024-03-3103556974ns14:PoundSterling2023-04-012024-03-3103556974ns10:Director12023-04-012024-03-3103556974ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103556974ns10:SmallEntities2023-04-012024-03-3103556974ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103556974ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103556974ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103556974ns10:FullAccounts2023-04-012024-03-3103556974ns10:Director22023-04-012024-03-3103556974ns10:RegisteredOffice2023-04-012024-03-3103556974ns5:CurrentFinancialInstruments2024-03-3103556974ns5:CurrentFinancialInstruments2023-03-3103556974ns5:Non-currentFinancialInstruments2024-03-3103556974ns5:Non-currentFinancialInstruments2023-03-3103556974ns5:ShareCapital2024-03-3103556974ns5:ShareCapital2023-03-3103556974ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3103556974ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3103556974ns5:RetainedEarningsAccumulatedLosses2024-03-3103556974ns5:RetainedEarningsAccumulatedLosses2023-03-3103556974ns5:FurnitureFittings2023-04-012024-03-3103556974ns5:FurnitureFittings2023-03-3103556974ns5:FurnitureFittings2024-03-3103556974ns5:FurnitureFittings2023-03-3103556974ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3103556974ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3103556974ns5:CurrentFinancialInstruments2023-04-012024-03-3103556974ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-3103556974ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-03-3103556974ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3103556974ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3103556974ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3103556974ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3103556974ns5:DeferredTaxation2023-03-3103556974ns5:DeferredTaxation2023-04-012024-03-3103556974ns5:DeferredTaxation2024-03-3103556974ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31
REGISTERED NUMBER: 03556974 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

A AND D PROPERTIES LIMITED

A AND D PROPERTIES LIMITED (REGISTERED NUMBER: 03556974)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A AND D PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A H Taylor
Mrs A P A Barros Taylor





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 03556974 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

A AND D PROPERTIES LIMITED (REGISTERED NUMBER: 03556974)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - -
Investment property 4 642,221 554,000
642,221 554,000

CURRENT ASSETS
Debtors 5 336,810 322,355
Cash at bank 786 1,058
337,596 323,413
CREDITORS
Amounts falling due within one year 6 69,925 30,636
NET CURRENT ASSETS 267,671 292,777
TOTAL ASSETS LESS CURRENT
LIABILITIES

909,892

846,777

CREDITORS
Amounts falling due after more than one
year

7

(372,000

)

(314,853

)

PROVISIONS FOR LIABILITIES 8 (73,971 ) (73,127 )
NET ASSETS 463,921 458,797

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 317,936 317,936
Retained earnings 145,885 140,761
SHAREHOLDERS' FUNDS 463,921 458,797

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

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

A AND D PROPERTIES LIMITED (REGISTERED NUMBER: 03556974)

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 January 2025 and were signed on its behalf by:





A H Taylor - Director


A AND D PROPERTIES LIMITED (REGISTERED NUMBER: 03556974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

A And D Properties 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.

Turnover
Turnover represents gross rental income and is recognised on the accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture,fittings & equipment - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. TANGIBLE FIXED ASSETS
Furniture,fittings
& equipment
£   
COST
At 1 April 2023
and 31 March 2024 1,982
DEPRECIATION
At 1 April 2023
and 31 March 2024 1,982
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

A AND D PROPERTIES LIMITED (REGISTERED NUMBER: 03556974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 554,000
Additions 88,221
At 31 March 2024 642,221
NET BOOK VALUE
At 31 March 2024 642,221
At 31 March 2023 554,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2014 403,906
Valuation in 2018 20,000
Valuation in 2021 (82,600 )
Valuation in 2022 50,600
Cost 250,315
642,221

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

2024 2023
£    £   
Cost 250,315 162,094

Investment property was valued on an open market basis on 31 March 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 749 344
Other debtors 335,773 321,756
Prepayments 288 255
336,810 322,355

Other debtors forms amounts owed by related companies. These are repayable upon demand but are not expected to be received within one year.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 19,555 14,497
Tax 1,078 -
Other creditors 47,565 14,459
Accrued expenses 1,727 1,680
69,925 30,636

Other creditors forms amounts owed to related companies. These are repayable upon demand but are not expected to be received within one year.

A AND D PROPERTIES LIMITED (REGISTERED NUMBER: 03556974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 19,555 14,497
Bank loans - 2-5 years 58,664 43,492
Bank loans more 5 yr by instal 293,781 256,864
372,000 314,853

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 293,781 256,864

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Trading losses - (844 )
Investment fair value gains 73,971 73,971
73,971 73,127

Deferred
tax
£   
Balance at 1 April 2023 73,127
Provided during year 844
Accelerated capital allowances
Investment fair value losses
Tax losses carried forward
Balance at 31 March 2024 73,971

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 317,936

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £335,773 (2023: £321,756) by Fairlight Homes (UK) Ltd, a company controlled by A H Taylor. No interest was charged on this amount. This amount is repayable on demand.

At the balance sheet date the company owed £45,812 (2023: £14,459) to Little Worsham Barns Ltd, a company controlled by A H Taylor. No interest was charged on this amount. This amount is repayable on demand.