| REGISTERED NUMBER: |
| Financial Statements for the Period 1 April 2023 to 30 September 2024 |
| for |
| Accelerate Property Group Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Period 1 April 2023 to 30 September 2024 |
| for |
| Accelerate Property Group Limited |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Contents of the Financial Statements |
| for the Period 1 April 2023 to 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Accelerate Property Group Limited |
| Company Information |
| for the Period 1 April 2023 to 30 September 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 116 Duke Street |
| Liverpool |
| Merseyside |
| L1 5JW |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Balance Sheet |
| 30 September 2024 |
| 30.9.24 | 31.3.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Balance Sheet - continued |
| 30 September 2024 |
| The financial statements were approved by the director and authorised for issue on |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Notes to the Financial Statements |
| for the Period 1 April 2023 to 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Accelerate Property Group Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
| Turnover |
| Turnover, derived from ordinary activities, represents rental income, management fees and sale of property, both excluding value added tax. Rent is recognised as the rent is due, management fees as the service is provided and the property sales are recognised on legal completion of sale. |
| Tangible fixed assets |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Financial instruments |
| Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
| Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Notes to the Financial Statements - continued |
| for the Period 1 April 2023 to 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the period 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2023 |
| and 30 September 2024 |
| DEPRECIATION |
| At 1 April 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Notes to the Financial Statements - continued |
| for the Period 1 April 2023 to 30 September 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2023 |
| Additions |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 31 March 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2023 |
| Additions |
| Disposals | ( |
) |
| Revaluations | 636,726 |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 31 March 2023 |
| Fair value at 30 September 2024 is represented by: |
| £ |
| Valuation in 2019 | 249,442 |
| Valuation in 2020 | 121,536 |
| Valuation in 2021 | 35,104 |
| Valuation in 2023 | 438,688 |
| Valuation in 2024 | 636,726 |
| Cost | 6,118,504 |
| 7,600,000 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 31.3.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Notes to the Financial Statements - continued |
| for the Period 1 April 2023 to 30 September 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 31.3.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.24 | 31.3.23 |
| £ | £ |
| Bank loans |
| Amounts owed to group undertakings |
| Other creditors |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.9.24 | 31.3.23 |
| £ | £ |
| Bank loans | 4,836,779 | 3,149,520 |
| Redwood Bank Limited and Shawbrook Bank Limited have provided loans that are secured against the properties held in investment property. |
| 11. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2023 | 729,783 |
| Profit for the period |
| Dividends | ( |
) | ( |
) |
| Transfer reserves | (477,545 | ) | 477,545 | - |
| At 30 September 2024 | 1,146,221 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| Mr T Muir, the director operates a current account to which transactions of a private nature are charged. Included in debtors at 30th September 2024 is £40,666. The loan is repayable on demand and includes interest at 2.25%. |
| 13. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Accelerate Property Group Limited (Registered number: 10802643) |
| Notes to the Financial Statements - continued |
| for the Period 1 April 2023 to 30 September 2024 |
| 13. | RELATED PARTY DISCLOSURES - continued |
| Included in debtors at 30th September 2024 is £136,344 owed from related parties. The loans are repayable on demand and interest free. |
| Included in creditors at 30th September 2024 is £100,977 owed to related parties. The loans are repayable on demand and interest free. |