Registered number
09866576
ABHAYA PROPERTIES LIMITED
Filleted Accounts
31 May 2024
ABHAYA PROPERTIES LIMITED
Registered number: 09866576
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,512,949 2,512,949
Current assets
Debtors 4 275,719 261,788
Cash at bank and in hand 89,912 31,127
365,631 292,915
Creditors: amounts falling due within one year 5 (2,402,114) (2,375,627)
Net current liabilities (2,036,483) (2,082,712)
Net assets 476,466 430,237
Capital and reserves
Called up share capital 100 100
Profit and loss account 476,366 430,137
Shareholders' funds 476,466 430,237
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.
Satbir Singh Ahluwalia
Director
Approved by the board on 30 May 2025
ABHAYA PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 May 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.
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:
Freehold land and buildings NIL
Investment property
Investment property is revalued annually for the fair value and the surplus or deficit is transferred
to the profit and loss account. No depreciation is provided in respect of investment property.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2023 2,512,949
At 31 May 2024 2,512,949
Depreciation
At 31 May 2024 -
Net book value
At 31 May 2024 2,512,949
At 31 May 2023 2,512,949
The investment properties were measured for fair value by the directors, and in their opinion the
fair value of the investment property is fairly stated.
4 Debtors 2024 2023
£ £
Trade debtors 22,719 8,788
Other debtors 253,000 253,000
275,719 261,788
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,222 5,222
Taxation and social security costs 35,798 5,631
Other creditors 1,198,852 1,205,532
Directors' loan account 1,159,242 1,159,242
2,402,114 2,375,627
6 Related party transactions 2024 2023
£ £
Mr Satbir Singh Ahluwalia
Director of the company
Amount due to Mr Satbir Singh Ahluwalia on demand was: 1,159,242 1,159,242
Kinedexe UK Limited
Common director
Included within other debtor is an amount recoverable of: 253,000 253,000
Abhaya Limited
Common director
Included within other creditors is an amount payable of: 6,000 6,000
7 Controlling party
The company is under the common control of its directors.
8 Other information
ABHAYA PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
65 Delamere Road
Hayes
Middlesex
UB4 0NN
ABHAYA PROPERTIES LIMITED 09866576 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Satbir Singh Ahluwalia No description of principal activity 09866576 2022-06-01 2023-05-31 09866576 core:WithinOneYear 2023-05-31 09866576 core:ShareCapital 2023-05-31 09866576 core:RetainedEarningsAccumulatedLosses 2023-05-31 09866576 2023-06-01 2024-05-31 09866576 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09866576 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09866576 bus:Director40 2023-06-01 2024-05-31 09866576 1 2023-06-01 2024-05-31 09866576 2 2023-06-01 2024-05-31 09866576 countries:England 2023-06-01 2024-05-31 09866576 bus:FRS102 2023-06-01 2024-05-31 09866576 bus:FilletedAccounts 2023-06-01 2024-05-31 09866576 2024-05-31 09866576 core:WithinOneYear 2024-05-31 09866576 core:ShareCapital 2024-05-31 09866576 core:RetainedEarningsAccumulatedLosses 2024-05-31 09866576 core:LandBuildings 2024-05-31 09866576 2023-05-31 09866576 core:LandBuildings 2023-05-31 iso4217:GBP xbrli:pure