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Registration number: 13266792

Abbeybourn Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Abbeybourn Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Abbeybourn Properties Ltd

Company Information

Director

Mr O Devoto

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Abbeybourn Properties Ltd

(Registration number: 13266792)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

426

561

Investment property

5

1,017,374

1,017,374

Investments

6

200

200

 

1,018,000

1,018,135

Current assets

 

Debtors

7

3,163

-

Cash at bank and in hand

 

126,076

29,899

 

129,239

29,899

Creditors: Amounts falling due within one year

8

(394,196)

(302,452)

Net current liabilities

 

(264,957)

(272,553)

Total assets less current liabilities

 

753,043

745,582

Creditors: Amounts falling due after more than one year

8

(716,881)

(716,881)

Provisions for liabilities

(4,428)

(4,462)

Net assets

 

31,734

24,239

Capital and reserves

 

Called up share capital

200

200

Revaluation reserve

12,968

12,968

Retained earnings

18,566

11,071

Shareholders' funds

 

31,734

24,239

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Abbeybourn Properties Ltd

(Registration number: 13266792)
Balance Sheet as at 31 January 2025

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 April 2025
 

.........................................
Mr O Devoto
Director

 

Abbeybourn Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Abbeybourn Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Abbeybourn Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Abbeybourn Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

673

673

At 31 January 2025

673

673

Depreciation

At 1 February 2024

112

112

Charge for the year

135

135

At 31 January 2025

247

247

Carrying amount

At 31 January 2025

426

426

At 31 January 2024

561

561

5

Investment properties

2025
£

At 1 February

1,017,374

At 31 January

1,017,374

The investment properties were revalued on 31 January 2025 by the director, on an open market basis.
This class of assets has a current value of £1,017,374 (2024: £1,017,374) and a carrying amount at historical cost of £1,000,084 (2024 : £1,000,084).

 

Abbeybourn Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Investments

2025
£

2024
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 February 2024

200

At 31 January 2025

200

Carrying amount

At 31 January 2025

200

At 31 January 2024

200

7

Debtors

2025
£

2024
£

Other debtors

3,000

-

Prepayments and accrued income

163

-

Total current trade and other debtors

3,163

-

8

Creditors

Note

2025
£

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

179,790

95,035

Taxation and social security

 

1,782

1,165

Other creditors

 

204,393

199,736

Accrued expenses

 

2,160

916

Deferred income

 

6,071

5,600

 

394,196

302,452

 

Abbeybourn Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

716,881

716,881

2025
£

2024
£

Due after more than five years

After more than five years by instalments

716,881

716,881

-

-

Creditors include bank loans which are secured of £716,881 (2024 - £716,881).

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

716,881

716,881

Included in the loans and borrowings are the following amounts due after more than five years:

2025
£

2024
£

After more than five years by instalments

716,881

716,881