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REGISTERED NUMBER: 09269715 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ABOLO INVESTMENT PROPERTIES LTD

ABOLO INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 09269715)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ABOLO INVESTMENT PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr D Mawji





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 09269715 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

ABOLO INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 09269715)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 6,120 8,158
Investment property 5 8,411,805 8,411,805
8,417,925 8,419,963

CURRENT ASSETS
Debtors 6 542,068 374,530
Cash at bank 549,268 583,889
1,091,336 958,419
CREDITORS
Amounts falling due within one year 7 4,369,967 4,330,460
NET CURRENT LIABILITIES (3,278,631 ) (3,372,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,139,294

5,047,922

CREDITORS
Amounts falling due after more than one year 8 (3,551,929 ) (3,559,763 )

PROVISIONS FOR LIABILITIES (288,890 ) (288,890 )
NET ASSETS 1,298,475 1,199,269

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 866,668 866,668
Retained earnings 431,707 332,501
SHAREHOLDERS' FUNDS 1,298,475 1,199,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ABOLO INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 09269715)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 30 April 2025 and were signed by:





Mr D Mawji - Director


ABOLO INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 09269715)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Abolo Investment Properties 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.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER
Turnover represent rent receivable, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the profits for the financial year would have been decreased by the amount of depreciation.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

ABOLO INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 09269715)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023
and 31 May 2024 12,568
DEPRECIATION
At 1 June 2023 4,410
Charge for year 2,038
At 31 May 2024 6,448
NET BOOK VALUE
At 31 May 2024 6,120
At 31 May 2023 8,158

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 8,411,805
NET BOOK VALUE
At 31 May 2024 8,411,805
At 31 May 2023 8,411,805

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 1,155,558
Cost 7,256,247
8,411,805

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

2024 2023
£    £   
Cost 7,256,247 7,256,247

Investment properties were valued on a fair value basis on 31 May 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 426,909 374,530
Amounts owed by participating interests 47,724 -
Other debtors 67,435 -
542,068 374,530

ABOLO INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 09269715)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,500 -
Amounts owed to group undertakings 4,215,720 4,188,211
Amounts owed to participating interests - 20,703
Taxation and social security 94,899 69,495
Other creditors 44,848 42,051
4,369,967 4,330,460

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 3,551,929 3,559,763

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 3,541,929 3,539,763

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,561,929 3,569,763

The loans are secured by way of a fixed and floating charge over the assets of the company.