A&E Property Portfolio Ltd 14867726 false 2023-05-15 2024-05-31 2024-05-31 The principal activity of the company is 68209 - Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 14867726 2023-05-15 2024-05-31 14867726 2024-05-31 14867726 core:CurrentFinancialInstruments 2024-05-31 14867726 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14867726 core:Non-currentFinancialInstruments 2024-05-31 14867726 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 14867726 core:FurnitureFittingsToolsEquipment 2024-05-31 14867726 bus:SmallEntities 2023-05-15 2024-05-31 14867726 bus:AuditExemptWithAccountantsReport 2023-05-15 2024-05-31 14867726 bus:FilletedAccounts 2023-05-15 2024-05-31 14867726 bus:SmallCompaniesRegimeForAccounts 2023-05-15 2024-05-31 14867726 bus:RegisteredOffice 2023-05-15 2024-05-31 14867726 bus:Director1 2023-05-15 2024-05-31 14867726 bus:Director2 2023-05-15 2024-05-31 14867726 bus:PrivateLimitedCompanyLtd 2023-05-15 2024-05-31 14867726 core:FurnitureFittings 2023-05-15 2024-05-31 14867726 core:FurnitureFittingsToolsEquipment 2023-05-15 2024-05-31 14867726 countries:EnglandWales 2023-05-15 2024-05-31 iso4217:GBP xbrli:pure

Registration number: 14867726

A&E Property Portfolio Ltd

Unaudited Filleted Financial Statements

for the Period from 15 May 2023 to 31 May 2024

 

A&E Property Portfolio Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

A&E Property Portfolio Ltd

Company Information

Directors

Mr A M Cacchio

Ms E R Masi

Registered office

32 Amethyst Road
Swindon
Wiltshire
SN25 2SF

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

A&E Property Portfolio Ltd

(Registration number: 14867726)
Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,235

Investment property

5

1,104,299

 

1,105,534

Current assets

 

Debtors

6

3,078

Cash at bank and in hand

 

5,553

 

8,631

Creditors: Amounts falling due within one year

7

(11,230)

Net current liabilities

 

(2,599)

Total assets less current liabilities

 

1,102,935

Creditors: Amounts falling due after more than one year

7

(1,107,097)

Net liabilities

 

(4,162)

Capital and reserves

 

Called up share capital

2

Retained earnings

(4,164)

Shareholders' deficit

 

(4,162)

 

A&E Property Portfolio Ltd

(Registration number: 14867726)
Balance Sheet as at 31 May 2024

For the financial period ending 31 May 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 period 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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 February 2025 and signed on its behalf by:
 

.........................................
Mr A M Cacchio
Director

.........................................
Ms E R Masi
Director

 

A&E Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 15 May 2023 to 31 May 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:
32 Amethyst Road
Swindon
Wiltshire
SN25 2SF
England

These financial statements were authorised for issue by the Board on 13 February 2025.

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.

The presentational currency of the financial statements is Pound Sterling (£), rounded to the nearest whole number.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

A&E Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 15 May 2023 to 31 May 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

33% on cost

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.

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.

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 period, was 2.

 

A&E Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 15 May 2023 to 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,853

1,853

At 31 May 2024

1,853

1,853

Depreciation

Charge for the period

618

618

At 31 May 2024

618

618

Carrying amount

At 31 May 2024

1,235

1,235

5

Investment properties

2024
£

Additions

1,104,299

At 31 May

1,104,299

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

6

Debtors

Current

2024
£

Prepayments

3,078

 

3,078

 

A&E Property Portfolio Ltd

Notes to the Unaudited Financial Statements for the Period from 15 May 2023 to 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

1,140

Other creditors

10,090

11,230

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

1,107,097

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

793,533

Other borrowings

313,564

1,107,097

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £793,533. There are charges held, containing a negative pledge, over the company's property.

The Mortgage Works (UK) plc hold charges over the properties at 20 Bushton Close, Swindon & 15 Purcell Road, Swindon.
Paragon Bank plc hold charges over the property 3 Oare Lane, Swindon.
Saffron Building Society hold charge over the property 10 Dewell Mews, Swindon.