Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-3112023-06-01falseThe principal activity of the company is that of leasing property.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00932389 2023-06-01 2024-05-31 00932389 2022-06-01 2023-05-31 00932389 2024-05-31 00932389 2023-05-31 00932389 c:Director2 2023-06-01 2024-05-31 00932389 d:FurnitureFittings 2023-06-01 2024-05-31 00932389 d:FurnitureFittings 2024-05-31 00932389 d:FurnitureFittings 2023-05-31 00932389 d:FreeholdInvestmentProperty 2024-05-31 00932389 d:FreeholdInvestmentProperty 2023-05-31 00932389 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 00932389 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 00932389 d:ShareCapital 2024-05-31 00932389 d:ShareCapital 2023-05-31 00932389 d:RevaluationReserve 2024-05-31 00932389 d:RevaluationReserve 2023-05-31 00932389 d:OtherMiscellaneousReserve 2024-05-31 00932389 d:OtherMiscellaneousReserve 2023-05-31 00932389 d:RetainedEarningsAccumulatedLosses 2024-05-31 00932389 d:RetainedEarningsAccumulatedLosses 2023-05-31 00932389 c:OrdinaryShareClass2 2023-06-01 2024-05-31 00932389 c:OrdinaryShareClass2 2024-05-31 00932389 c:OrdinaryShareClass2 2023-05-31 00932389 c:OrdinaryShareClass3 2023-06-01 2024-05-31 00932389 c:OrdinaryShareClass3 2024-05-31 00932389 c:OrdinaryShareClass3 2023-05-31 00932389 c:FRS102 2023-06-01 2024-05-31 00932389 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 00932389 c:FullAccounts 2023-06-01 2024-05-31 00932389 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 00932389 d:Subsidiary1 2023-06-01 2024-05-31 00932389 d:Subsidiary1 1 2023-06-01 2024-05-31 00932389 2 2023-06-01 2024-05-31 00932389 6 2023-06-01 2024-05-31 00932389 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00932389










Abbey Properties (Chertsey) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2024







 
Abbey Properties (Chertsey) Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Abbey Properties (Chertsey) Limited for the year ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abbey Properties (Chertsey) Limited for the year ended 31 May 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Abbey Properties (Chertsey) Limited, as a body, in accordance with the terms of our engagement letter dated 23 January 2023Our work has been undertaken solely to prepare for your approval the financial statements of Abbey Properties (Chertsey) Limited and state those matters that we have agreed to state to the Board of directors of Abbey Properties (Chertsey) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Properties (Chertsey) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Abbey Properties (Chertsey) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Abbey Properties (Chertsey) Limited. You consider that Abbey Properties (Chertsey) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Abbey Properties (Chertsey) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
27 February 2025
Page 1

 
Abbey Properties (Chertsey) Limited
Registered number: 00932389

Balance sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1
1

Investments
 5 
31
31

Investment property
 6 
1,272,838
1,272,838

  
1,272,870
1,272,870

Current assets
  

Debtors
  
41,335
768

Cash at bank and in hand
  
25,596
30,808

  
66,931
31,576

Creditors: amounts falling due within one year
  
(43,935)
(3,465)

Net current assets
  
 
 
22,996
 
 
28,111

Total assets less current liabilities
  
1,295,866
1,300,981

Provisions for liabilities
  

Deferred tax
  
(223,207)
(223,207)

  
 
 
(223,207)
 
 
(223,207)

Net assets
  
1,072,659
1,077,774


Capital and reserves
  

Called up share capital 
 7 
1,031
1,031

Revaluation reserve
  
1,165,777
1,165,777

Other reserves
  
15,545
15,545

Profit and loss account
  
(109,694)
(104,579)

  
1,072,659
1,077,774


Page 2

 
Abbey Properties (Chertsey) Limited
Registered number: 00932389

Balance sheet (continued)
As at 31 May 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr Silas Stephenson
Director

Date: 27 February 2025

Page 3

 
Abbey Properties (Chertsey) Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

1.


General information

The company is a private company, limited by share capital, incorporated in England, within the United Kingdom. The registered office address is: Idehurst Manor, Strood Green, Billingshurst, West Sussex, RH14 0HJ.
The financial statements are presented in sterling and rounded to the nearest £1. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
Abbey Properties (Chertsey) Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
Abbey Properties (Chertsey) Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

Page 6

 
Abbey Properties (Chertsey) Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 June 2023
1,830



At 31 May 2024

1,830



Depreciation


At 1 June 2023
1,829



At 31 May 2024

1,829



Net book value



At 31 May 2024
1



At 31 May 2023
1


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
31



At 31 May 2024
31






Net book value



At 31 May 2024
31



At 31 May 2023
31


Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Principal activity

Class of shares

Holding

Thames House (Cost Sale) Limited
Leasing property
Ordinary shares
100%

Page 7

 
Abbey Properties (Chertsey) Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
1,272,838



At 31 May 2024
1,272,838

The 2024 valuations were made by the director who is internal to the company, on an open market value for existing use basis.





7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



774 (2023 - 774) Ordinary A shares shares of £1.00 each
774
774
257 (2023 - 257) Ordinary B shares shares of £1.00 each
257
257

1,031

1,031


Page 8