Registered number
11111073
Abiica Properties Ltd
Filleted Accounts
31 December 2024
Abiica Properties Ltd
Registered number: 11111073
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,927,557 1,893,628
Current assets
Debtors 5 694,581 666,155
Cash at bank and in hand 3,502 8,613
698,083 674,768
Creditors: amounts falling due within one year 6 (110,891) (51,841)
Net current assets 587,192 622,927
Total assets less current liabilities 2,514,749 2,516,555
Creditors: amounts falling due after more than one year 7 (989,828) (993,968)
Net assets 1,524,921 1,522,587
Capital and reserves
Called up share capital 1,511,781 1,511,781
Profit and loss account 13,140 10,806
Shareholders' funds 1,524,921 1,522,587
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J I Robertson
Director
Approved by the board on 24 March 2025
Abiica Properties Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and office equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 6,250
At 31 December 2024 6,250
Amortisation
At 1 January 2024 6,250
At 31 December 2024 6,250
Net book value
At 31 December 2024 -
Goodwill is now written off in full.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 1,847,184 92,291 1,939,475
Additions 15,570 39,960 55,530
At 31 December 2024 1,862,754 132,251 1,995,005
Depreciation
At 1 January 2024 - 45,847 45,847
Charge for the year - 21,601 21,601
At 31 December 2024 - 67,448 67,448
Net book value
At 31 December 2024 1,862,754 64,803 1,927,557
At 31 December 2023 1,847,184 46,444 1,893,628
5 Debtors 2024 2023
£ £
Trade debtors 46,893 39,904
Other debtors 647,688 626,251
694,581 666,155
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 38,197 31,418
Director's loan 35,390 -
Taxation and social security costs 911 2,358
Other creditors 36,393 18,065
110,891 51,841
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 812,000 812,000
Other creditors 177,828 181,968
989,828 993,968
8 Controlling party
The controlling party was Mr IB Robertson.
9 Other information
Abiica Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Bishop Street
Town Hall Square
Leicester
LE1 6AF
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