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REGISTERED NUMBER: 09583409 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

ADELIE PROPERTIES LTD

ADELIE PROPERTIES LTD (REGISTERED NUMBER: 09583409)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ADELIE PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: P.J. Austin, Esq.
Mrs J Austin





SECRETARY: Mrs J Austin





REGISTERED OFFICE: 15a Station Road
Epping
Essex
CM16 4HG





REGISTERED NUMBER: 09583409 (England and Wales)





ACCOUNTANTS: Cobbin Floyd Ltd
Chartered Accountants
15a Station Road
Epping
Essex
CM16 4HG

ADELIE PROPERTIES LTD (REGISTERED NUMBER: 09583409)

ABRIDGED BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 448 2
Investment property 5 547,000 547,000
547,448 547,002

CURRENT ASSETS
Debtors 468 470
Cash at bank 59,658 43,278
60,126 43,748
CREDITORS
Amounts falling due within one year (75,936 ) (306,655 )
NET CURRENT LIABILITIES (15,810 ) (262,907 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,638

284,095

CREDITORS
Amounts falling due after more than one
year

6

(257,475

)

-
NET ASSETS 274,163 284,095

CAPITAL AND RESERVES
Called up share capital 450 450
Fair value reserve 7 280,667 280,667
Retained earnings (6,954 ) 2,978
SHAREHOLDERS' FUNDS 274,163 284,095

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

ADELIE PROPERTIES LTD (REGISTERED NUMBER: 09583409)

ABRIDGED BALANCE SHEET - continued
31ST MAY 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 13th February 2025 and were signed on its behalf by:




Mrs J Austin - Director



P.J. Austin, Esq. - Director


ADELIE PROPERTIES LTD (REGISTERED NUMBER: 09583409)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Adelie Properties Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% 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. EMPLOYEES AND DIRECTORS

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

ADELIE PROPERTIES LTD (REGISTERED NUMBER: 09583409)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023 994
Additions 669
At 31st May 2024 1,663
DEPRECIATION
At 1st June 2023 992
Charge for year 223
At 31st May 2024 1,215
NET BOOK VALUE
At 31st May 2024 448
At 31st May 2023 2

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023
and 31st May 2024 547,000
NET BOOK VALUE
At 31st May 2024 547,000
At 31st May 2023 547,000

Fair value at 31st May 2024 is represented by:
£   
Valuation in 2018 63,000
Valuation in 2020 52,000
Valuation in 2021 47,000
Valuation in 2022 60,000
Cost 325,000
547,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans due over 5 years 257,475 -

ADELIE PROPERTIES LTD (REGISTERED NUMBER: 09583409)

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

7. RESERVES
Fair
value
reserve
£   
At 1st June 2023
and 31st May 2024 280,667