REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th June 2024 |
for |
ABR Realty Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th June 2024 |
for |
ABR Realty Limited |
ABR Realty Limited (Registered number: 12663443) |
Contents of the Financial Statements |
for the Year Ended 30th June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ABR Realty Limited |
Company Information |
for the Year Ended 30th June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ABR Realty Limited (Registered number: 12663443) |
Balance Sheet |
30th June 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings | (69,649 | ) | (13,875 | ) |
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. |
The financial statements were approved by the director and authorised for issue on |
ABR Realty Limited (Registered number: 12663443) |
Notes to the Financial Statements |
for the Year Ended 30th June 2024 |
1. | STATUTORY INFORMATION |
ABR Realty Limited is a |
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 he revaluation of certain assets. |
Going concern |
These financial statements have been prepared on the going concern basis, which presumes that the company is able to continue in operational existence for the foreseeable future.The company is reliant upon the continued improvement in its cashflows to continue to ensure that it can meet its liabilities as they fall due. Refinancing part of the short-term debt was satisfactorily arranged after the balance sheet date and the director believes that the company's cashflows will continue to improve as short-term costs are reduced or eliminated and more of the properties produce letting income. As a result, the director believes that it is appropriate for the financial statements to be prepared on the going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 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 |
ABR Realty Limited (Registered number: 12663443) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st July 2023 |
Additions |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
Fair value at 30th June 2024 is represented by: |
£ |
Valuation in 2022 | 133,693 |
Valuation in 2023 | (9,042 | ) |
Valuation in 2024 | 187,365 |
Cost | 745,349 |
1,057,365 |
The investment properties were valued on an open market basis on 30th June 30/6/24 by the directors. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Building Society Loan | 253,199 | 253,199 |
Keystone Mortgage | 144,994 | - |
ABR Realty Limited (Registered number: 12663443) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2024 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st July 2023 |
and 30th June 2024 |
9. | COMMITMENT NOTE |
Under a contract for the renovation of one of the companies properties the company is committed to further expenditure of approximately £70,000 after the balance sheet date. |