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REGISTERED NUMBER: 09771661 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th September 2024

for

AE PROPERTY NORTH WEST LTD

AE PROPERTY NORTH WEST LTD (REGISTERED NUMBER: 09771661)






Contents of the Financial Statements
for the Year Ended 30th September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AE PROPERTY NORTH WEST LTD

Company Information
for the Year Ended 30th September 2024







DIRECTOR: Mr A Watkinson





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 09771661 (England and Wales)





ACCOUNTANTS: BK Plus - Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

AE PROPERTY NORTH WEST LTD (REGISTERED NUMBER: 09771661)

Balance Sheet
30th September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 433 577
Investment property 5 552,500 617,500
552,933 618,077

CURRENT ASSETS
Debtors 6 579 3,672
Cash at bank 4,627 18,986
5,206 22,658
CREDITORS
Amounts falling due within one year 7 159,575 267,533
NET CURRENT LIABILITIES (154,369 ) (244,875 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,564

373,202

CREDITORS
Amounts falling due after more than one
year

8

(225,877

)

(332,114

)

PROVISIONS FOR LIABILITIES (17,165 ) (394 )
NET ASSETS 155,522 40,694

CAPITAL AND RESERVES
Called up share capital 11 100 100
Non-distributable reserves 98,895 34,495
Retained earnings 56,527 6,099
SHAREHOLDERS' FUNDS 155,522 40,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

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.

AE PROPERTY NORTH WEST LTD (REGISTERED NUMBER: 09771661)

Balance Sheet - continued
30th September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th January 2025 and were signed by:





Mr A Watkinson - Director


AE PROPERTY NORTH WEST LTD (REGISTERED NUMBER: 09771661)

Notes to the Financial Statements
for the Year Ended 30th September 2024

1. STATUTORY INFORMATION

AE Property North West Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 the revaluation of certain assets.

Revenue recognition
Revenue is derived from investment property management services, excluding value added tax. Revenue is recognised as it falls due based upon property occupancy.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment properties are held to earn rentals. They are initially measured at cost, including transaction costs. Subsequently, they are measured at fair value and are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair values are included in the Statement of Income in the period in which they arise.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
All the companies financial liabilities fall to be classified as basic financial liabilities under Section 11 of FRS 102 and the company therefore has no other financial instruments.


AE PROPERTY NORTH WEST LTD (REGISTERED NUMBER: 09771661)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st October 2023
and 30th September 2024 804
DEPRECIATION
At 1st October 2023 227
Charge for year 144
At 30th September 2024 371
NET BOOK VALUE
At 30th September 2024 433
At 30th September 2023 577

AE PROPERTY NORTH WEST LTD (REGISTERED NUMBER: 09771661)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 617,500
Disposals (155,000 )
Revaluations 90,000
At 30th September 2024 552,500
NET BOOK VALUE
At 30th September 2024 552,500
At 30th September 2023 617,500

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2021 38,810
Valuation in 2023 (3,921 )
Valuation in 2024 81,171
Cost 436,440
552,500

If investment properties had not been revalued they would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 436,440 582,611

Investment properties were valued on a fair value basis on 30th September 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Tax - 3,163
Prepayments 579 509
579 3,672

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 9) 6,887 6,813
Trade creditors 4,849 4,761
Other creditors 284 961
Directors' current accounts 144,386 252,716
Deferred income 1,337 453
Accrued expenses 1,832 1,829
159,575 267,533

AE PROPERTY NORTH WEST LTD (REGISTERED NUMBER: 09771661)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 9) 225,877 332,114

9. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,887 6,813

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,887 6,904

Amounts falling due between two and five years:
Bank loans - 2-5 years 218,990 325,210

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 232,764 338,927

The bank loan is secured by way of a legal charge over all investment properties owned by the company, and by fixed and floating charges over all property and undertakings of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary 1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The balance of the loan due to the director at the balance sheet date was £144,386 (2023: £252,716). There is no interest payable on this loan and whilst the loan is repayable on demand, the director has confirmed that he will only draw against it when the company can sustain repayment whilst maintaining its trading operations.

13. ULTIMATE CONTROLLING PARTY

Mr & Mrs Watkinson control the company by virtue of their interest in the majority of the issued share capital.