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REGISTERED NUMBER: 10408853 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

15 Property Ltd

15 Property Ltd (Registered number: 10408853)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


15 Property Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: M Boyden
Ms E Bevan





SECRETARY:





REGISTERED OFFICE: 6 High Street
Wheathamstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 10408853 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

15 Property Ltd (Registered number: 10408853)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1,332
Investment property 5 250,000 250,000
250,001 251,332

CURRENT ASSETS
Debtors 6 1,454 4,984
Cash at bank 22,808 22,866
24,262 27,850
CREDITORS
Amounts falling due within one year 7 103,851 103,645
NET CURRENT LIABILITIES (79,589 ) (75,795 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,412

175,537

CREDITORS
Amounts falling due after more than
one year

8

191,250

191,250
NET LIABILITIES (20,838 ) (15,713 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 16,297 16,297
Retained earnings (37,235 ) (32,110 )
SHAREHOLDERS' FUNDS (20,838 ) (15,713 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

15 Property Ltd (Registered number: 10408853)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





M Boyden - Director


15 Property Ltd (Registered number: 10408853)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

15 Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6, High Street, Wheathamstead, Herts AL4 8AA.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for rebates and other similar allowances.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at rates of 25% per annum.

Assets held under finance leases are depreciated in the same way as owned assets.

Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Although this is a departure from the accounting requirements of the Companies Act 2006, which recommends that properties be depreciated, the directors consider departure in this regard as justified on the grounds of compliance with the Financial Reporting Standards and the overriding requirement under section 396(4) of the Companies Act 2006 that Financial Statements should show a true and fair view.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period

15 Property Ltd (Registered number: 10408853)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Furniture
& fittings
£   
COST
At 1 November 2023
and 31 October 2024 5,331
DEPRECIATION
At 1 November 2023 3,999
Charge for year 1,331
At 31 October 2024 5,330
NET BOOK VALUE
At 31 October 2024 1
At 31 October 2023 1,332

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 250,000
NET BOOK VALUE
At 31 October 2024 250,000
At 31 October 2023 250,000

The original cost of the property was £233,703.

The property was valued at £250,000 by the mortgage lender in February 2023.

15 Property Ltd (Registered number: 10408853)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Prepayments 1,454 4,984

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Deferred income 405 392
Directors' loan accounts 102,125 102,125
Accruals 1,321 1,128
103,851 103,645

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.24 31.10.23
£    £   
Mortgage loans - After 5 years 191,250 191,250

The mortgage is interest only and payable twenty five years after inception in March 2023. The loan is secured by a fixed and floating charge on the company assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
50 Ordinary A Shares £1 50 50
50 Ordinary B Shares £1 50 50
100 100

10. RESERVES
Revaluation
reserve
£   
At 1 November 2023
and 31 October 2024 16,297