Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-3012023-07-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07673833 2023-07-01 2024-06-30 07673833 2022-07-01 2023-06-30 07673833 2024-06-30 07673833 2023-06-30 07673833 2022-07-01 07673833 c:Director1 2023-07-01 2024-06-30 07673833 d:FreeholdInvestmentProperty 2024-06-30 07673833 d:FreeholdInvestmentProperty 2023-06-30 07673833 d:CurrentFinancialInstruments 2024-06-30 07673833 d:CurrentFinancialInstruments 2023-06-30 07673833 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07673833 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07673833 d:ShareCapital 2024-06-30 07673833 d:ShareCapital 2023-06-30 07673833 d:RevaluationReserve 2024-06-30 07673833 d:RevaluationReserve 2023-06-30 07673833 d:RetainedEarningsAccumulatedLosses 2024-06-30 07673833 d:RetainedEarningsAccumulatedLosses 2023-06-30 07673833 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 07673833 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07673833 c:FRS102 2023-07-01 2024-06-30 07673833 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07673833 c:FullAccounts 2023-07-01 2024-06-30 07673833 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07673833 2 2023-07-01 2024-06-30 07673833 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 07673833









ADMIRAL PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
ADMIRAL PROPERTIES LIMITED
REGISTERED NUMBER: 07673833

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,533,789
3,533,789

Current assets
  

Debtors: amounts falling due within one year
 5 
1,908,191
1,589,213

Cash at bank and in hand
  
53,648
242,219

  
1,961,839
1,831,432

Creditors: amounts falling due within one year
 6 
(2,029,418)
(2,024,537)

Net current liabilities
  
 
 
(67,579)
 
 
(193,105)

Total assets less current liabilities
  
3,466,210
3,340,684

Deferred tax
 7 
(269,910)
(269,910)

Net assets
  
3,196,300
3,070,774


Capital and reserves
  

Called up share capital 
  
655,473
655,473

Revaluation reserve
  
932,233
932,233

Profit and loss account
  
1,608,594
1,483,068

  
3,196,300
3,070,774

Page 1

 
ADMIRAL PROPERTIES LIMITED
REGISTERED NUMBER: 07673833
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers 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 director acknowledges his 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 on 19 March 2025.




P J O'Connor
Director


The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
ADMIRAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Admiral Properties Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered number is 07673833. The registered office is Farley House, Kinvara Business Park, 22-42 Freshwater Road, Dagenham, Essex, RM8 1RY.
The principal activity of the Company during the year was that of management of real estate.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

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

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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.

Page 3

 
ADMIRAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually 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

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

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. 

 
2.8

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.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




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

Page 4

 
ADMIRAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
3,533,789



At 30 June 2024
3,533,789

The 2024 valuations were made by the director, on an open market value for existing use basis.




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,331,645
2,331,645

Page 5

 
ADMIRAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
9,980
9,030

Amounts owed by group undertakings
1,898,211
1,540,183

Other debtors
-
40,000

1,908,191
1,589,213



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
62,755
43,733

Other creditors
1,931,610
1,946,005

Accruals and deferred income
35,053
34,799

2,029,418
2,024,537



7.


Deferred taxation




2024
2023


£

£






At beginning of year
(269,910)
(269,910)



At end of year
(269,910)
(269,910)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised gain on revaluation of investment property
(269,910)
(269,910)


8.


Transactions with directors

Included within other debtors is a loan of £Nil (2023 - £40,000) owed by the company director. 

Page 6

 
ADMIRAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Related party transactions

Amounts owed by the director are disclosed in Note 8. 

 
Page 7