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REGISTERED NUMBER: 06291865 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

01 Property Investment Ltd

01 Property Investment Ltd (Registered number: 06291865)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


01 Property Investment Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: M G Lower





SECRETARY: M G Lower





REGISTERED OFFICE: The Courtyard House
Horsham Road
Cowfold
West Sussex
RH13 8BX





REGISTERED NUMBER: 06291865 (England and Wales)





ACCOUNTANTS: M Goddard & Co
Chartered Accountants
69 Tupwood Lane
Caterham
Surrey
CR3 6DD

01 Property Investment Ltd (Registered number: 06291865)

Abridged Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 69,271
Tangible assets 5 600,000 6,600,000
600,000 6,669,271

CURRENT ASSETS
Debtors 15,434 261,272
Cash at bank 6,483 810
21,917 262,082
CREDITORS
Amounts falling due within one year 186,806 147,603
NET CURRENT (LIABILITIES)/ASSETS (164,889 ) 114,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

435,111

6,783,750

CREDITORS
Amounts falling due after more than one
year

6

(1,028,125

)

(2,623,111

)

PROVISIONS FOR LIABILITIES (39,947 ) (767,621 )
NET (LIABILITIES)/ASSETS (632,961 ) 3,393,018

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (632,962 ) 3,393,017
SHAREHOLDERS' FUNDS (632,961 ) 3,393,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

01 Property Investment Ltd (Registered number: 06291865)

Abridged Balance Sheet - continued
30 June 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 30 June 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 director and authorised for issue on 5 March 2025 and were signed by:





M G Lower - Director


01 Property Investment Ltd (Registered number: 06291865)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

01 Property Investment 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 represents rents receivable and associated charges made to tenants, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

Investment properties
Investment properties are not depreciated and are shown at market value at the year end date with the revalued amount being credited to the revenue reserves. All the companies properties are investment properties. Deferred tax has been calculated on the increase in property values with the charge being debited to revenue reserves and a deferred tax liability being shown on the balance sheet under provisions for liabilities.

3. EMPLOYEES AND DIRECTORS

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

01 Property Investment Ltd (Registered number: 06291865)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 190,000
Disposals (190,000 )
At 30 June 2024 -
AMORTISATION
At 1 July 2023 120,729
Amortisation for year 69,271
Eliminated on disposal (190,000 )
At 30 June 2024 -
NET BOOK VALUE

At 30 June 2024 -
At 30 June 2023 69,271

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2023 6,720,677
Disposals (2,987,408 )
Revaluations (3,072,592 )
At 30 June 2024 660,677
DEPRECIATION
At 1 July 2023 120,677
Eliminated on disposal (60,000 )
At 30 June 2024 60,677
NET BOOK VALUE
At 30 June 2024 600,000
At 30 June 2023 6,600,000

Two freehold properties were transferred to group companies during the year, one at cost and one at cost plus revaluation. These properties are used in each of the companies as their business premises.

01 Property Investment Ltd (Registered number: 06291865)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Totals
£   
Valuation in 2015 3,457,297
Valuation in 2016 398,499
Valuation in 2017 43,947
Valuation in 2018 (153,535 )
Valuation in 2019 (188,360 )
Valuation in 2020 200,000
Valuation in 2021 (549,083 )
Valuation in 2022 193,339
Valuation in 2023 (169,720 )
Valuation in 202 (3,072,592 )
Cost 500,885
660,677

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30.6.24 30.6.23
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 301,987 1,892,491

7. RELATED PARTY DISCLOSURES

M Lower, a director of the company was owed £60,644 by the the company at the year end. At 30 June 2023 he owed the company £250,430.

8. RETAINED EARNINGS

Under FRS 102 a revaluation reserve is no longer separately identifiable. The unrealised gains on revalued investment properties net of deferred tax amounts to £119,845 (2023:£2,464,763) and is included in retained earnings.