Company registration number 11130023 (England and Wales)
ADDER PROPERTIES LIMITED
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ADDER PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ADDER PROPERTIES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,915,563
4,992,301
Current assets
Debtors
4
5,993
5,993
Cash at bank and in hand
3,655
4,928
9,648
10,921
Creditors: amounts falling due within one year
5
(4,801,681)
(4,869,366)
Net current liabilities
(4,792,033)
(4,858,445)
Total assets less current liabilities
123,530
133,856
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
123,430
133,756
Total equity
123,530
133,856
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
A C Dickens
Director
Company Registration No. 11130023
ADDER PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Adder Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable, and is shown net of VAT. Turnover comprises rent receivable from commercial premises and is recognised on a receivable basis.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold buildings
Straight line over 50 years
No depreciation is provided in respect of freehold land.
1.4
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Loans are initially measured at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ADDER PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) engaged by the company during the year was 2 (2023 - 2).
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2023 and 30 June 2024
5,411,924
Depreciation and impairment
At 1 July 2023
419,623
Depreciation charged in the year
76,738
At 30 June 2024
496,361
Carrying amount
At 30 June 2024
4,915,563
At 30 June 2023
4,992,301
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
5,993
5,993
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amount due to parent undertaking
4,782,430
4,851,245
Other taxation and social security
15,750
15,120
Accruals and deferred income
3,501
3,001
4,801,681
4,869,366
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
ADDER PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
7
Audit report information
As the profit and loss account has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Christopher Castleman FCA
Statutory Auditor:
Newby Castleman LLP
Date of audit report:
28 March 2025
8
Parent company
The parent undertaking is Adder Technology Limited and the registered office address is the same as the company's registered office address as given in the company information page of these financial statements. The company is included in the consolidated financial statements of Adder Technology Limited, which are publicly available from Companies House, Cardiff.