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REGISTERED NUMBER: 10167141 (England and Wales)









Financial Statements

for the Year Ended 31 May 2024

for

Allison Property Limited

Allison Property Limited (Registered number: 10167141)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Allison Property Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: I Allison
Mrs C Allison





REGISTERED OFFICE: The Nook
40-42 High Street
Flore
Northampton
NN7 4LL





REGISTERED NUMBER: 10167141 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Allison Property Limited (Registered number: 10167141)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 - 87
Investment property 5 3,390,000 3,600,000
3,390,000 3,600,087

CURRENT ASSETS
Debtors 6 47,102 88,552
Cash at bank 83,582 2,366
130,684 90,918
CREDITORS
Amounts falling due within one year 7 (33,746 ) (60,080 )
NET CURRENT ASSETS 96,938 30,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,486,938

3,630,925

CREDITORS
Amounts falling due after more than one
year

8

(2,036,261

)

(1,997,458

)

PROVISIONS FOR LIABILITIES (190,509 ) (243,009 )
NET ASSETS 1,260,168 1,390,458

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 685,957 685,957
Retained earnings 574,011 704,301
SHAREHOLDERS' FUNDS 1,260,168 1,390,458

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

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

Allison Property Limited (Registered number: 10167141)

Statement of Financial Position - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





I Allison - Director


Allison Property Limited (Registered number: 10167141)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Allison Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue 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.

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2023 - NIL).

Allison Property Limited (Registered number: 10167141)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 349
DEPRECIATION
At 1 June 2023 262
Charge for year 87
At 31 May 2024 349
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 87

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 3,600,000
Revaluations (210,000 )
At 31 May 2024 3,390,000
NET BOOK VALUE
At 31 May 2024 3,390,000
At 31 May 2023 3,600,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2017 24,644
Valuation in 2018 15,000
Valuation in 2020 182,390
Valuation in 2022 430,000
Valuation in 2023 320,000
Valuation in 2024 (210,000 )
Cost 2,627,966
3,390,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 23,895 -
Directors' current accounts 14,546 85,345
Tax 4,909 -
Prepayments & accrued income 3,752 3,207
47,102 88,552

Allison Property Limited (Registered number: 10167141)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 1,874 30,699
Social security and other taxes 736 -
Other creditors 13,479 13,671
Accruals & deferred income 17,657 15,710
33,746 60,080

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans 1-2 years 2,036,261 1,997,458

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 2,036,261 1,997,458

The bank loans are secured by a fixed charge on the investment properties and contains a negative pledge.

10. RETAINED EARNING

The retained earnings of £574,011 (2023: £704,301) comprise of distributable reserves of £2,485 (2023: deficit of £24,724) and non-distributable reserves of £571,525 (2023: £729,025) which relate to property revaluations less related deferred tax provision.