Company registration number 06516759 (England and Wales)
A & B DEVELOPMENTS GB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
A & B DEVELOPMENTS GB LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
A & B DEVELOPMENTS GB LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
502,380
389,408
Current assets
Cash at bank and in hand
1,174
34,437
Creditors: amounts falling due within one year
5
(57,124)
(48,130)
Net current liabilities
(55,950)
(13,693)
Total assets less current liabilities
446,430
375,715
Creditors: amounts falling due after more than one year
6
(312,094)
(241,028)
Provisions for liabilities
(20,623)
(20,623)
Net assets
113,713
114,064
Capital and reserves
Called up share capital
100
100
Other reserves
109,861
109,861
Profit and loss reserves
3,752
4,103
Total equity
113,713
114,064
A & B DEVELOPMENTS GB LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 15 April 2025 and are signed on its behalf by:
Mr K Ruparelia
Mr T D Dhanjal
Director
Director
Company registration number 06516759 (England and Wales)
A & B DEVELOPMENTS GB LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
Share capital
Fair value reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 March 2023
100
126,106
8,464
134,670
Year ended 28 February 2024:
Loss and total comprehensive income for the year
-
-
(20,606)
(20,606)
Transfers
-
-
16,245
16,245
Other movements
-
(16,245)
-
(16,245)
Balance at 28 February 2024
100
109,861
4,103
114,064
Year ended 28 February 2025:
Loss and total comprehensive income for the year
-
-
(351)
(351)
Balance at 28 February 2025
100
109,861
3,752
113,713
A & B DEVELOPMENTS GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
1
Accounting policies
Company information
A & B Developments GB Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover reflects rental income receivable in line with the terms of tenants contracts to which the company is obliged to receive. This is predominantly recognised as it falls due month by month and not recognised for future periods of rental even where the company would be due to receive it under the terms of the contract.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
A & B DEVELOPMENTS GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
A & B DEVELOPMENTS GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
4
Investment property
2025
£
Fair value
At 29 February 2024
389,408
Additions
112,972
At 28 February 2025
502,380
Investment properties have been valued as of the balance sheet date by reference to the open market. The Directors have sufficient knowledge and experience of the market and have valued the properties without the use of a third party.
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
7
7,604
5,251
Other creditors
48,710
41,710
Accruals and deferred income
810
1,169
57,124
48,130
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
7
312,094
241,028
Creditors which fall due after five years are payable as follows:
Payable by instalments
165,833
104,883
Payable other than by instalments
115,871
115,871
281,704
220,754
7
Loans and overdrafts
2025
2024
£
£
Bank loans
319,698
246,279
Payable within one year
7,604
5,251
Payable after one year
312,094
241,028
A & B DEVELOPMENTS GB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
7
Loans and overdrafts
(Continued)
- 7 -
The long-term loan is secured by a fixed charge over the investment properties.