Company No:
Contents
DIRECTORS | Howard Antony Chaplin |
Luke Chaplin |
REGISTERED OFFICE | Treviot House |
186-192 High Road | |
Ilford | |
IG1 1LR | |
United Kingdom |
COMPANY NUMBER | 11029864 (England and Wales) |
ACCOUNTANT | Gravita Essex Limited |
Treviot House | |
186-192 High Road | |
Ilford | |
Essex | |
IG1 1LR | |
United Kingdom |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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1,156,320 | 1,038,490 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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20,048 | 29,998 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (468,076) | (346,203) | ||
Total assets less current liabilities | 688,244 | 692,287 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Provision for liabilities | 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Fair value reserve |
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Profit and loss account | (
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of 123 Properties Ltd (registered number:
Howard Antony Chaplin
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investment property | |
£ | |
Valuation | |
As at 01 November 2023 |
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Additions | 72,830 |
Fair value movement | 45,000 |
As at 31 October 2024 |
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Historic cost
If investment property had not been revalued it would have been included at the following historical cost:
2024 | 2023 | ||
£ | £ | ||
Historic cost | 976,910 | 904,080 |
The investment property was valued on a fair value basis on 31 October 2024 by the directors.
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Amounts owed to Group undertakings |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
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(Charged)/credited to the Profit and Loss Account | (
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At the end of financial year | (
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2024 | 2023 | ||
£ | £ | ||
Bank Loans | 560,403 | 599,376 |
Bank loans are secured on Investment Properties held within the company.