Company registration number 02858937 (England and Wales)
ANGLO PROPERTIES LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ANGLO PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr M W J Hassett
Mrs C M M Hassett
Secretary
Mrs C M M Hassett
Company number
02858937
Registered office
78 Beckenham Road
Beckenham
Kent
United Kingdom
BR3 4RH
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
ANGLO PROPERTIES LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 8
ANGLO PROPERTIES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
The directors present their annual report and financial statements for the year ended 30 September 2024.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr M W J Hassett
Mrs C M M Hassett
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr M W J Hassett
Director
11 June 2025
ANGLO PROPERTIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ANGLO PROPERTIES LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Anglo Properties Limited for the year ended 30 September 2024 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Anglo Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Anglo Properties Limited and state those matters that we have agreed to state to the board of directors of Anglo Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anglo Properties Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Anglo Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Anglo Properties Limited. You consider that Anglo Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Anglo Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH
United Kingdom
11 June 2025
ANGLO PROPERTIES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
2024
2023
Notes
£
£
Turnover
381,564
380,577
Cost of sales
(117,982)
(114,504)
Gross profit
263,582
266,073
Administrative expenses
187,617
(33,671)
Other operating income
3,845
Operating profit
455,044
232,402
Interest receivable and similar income
6,613
Interest payable and similar expenses
(64,467)
(56,883)
Fair value gains and losses on investment properties
4
(319,999)
Profit/(loss) before taxation
397,190
(144,480)
Tax on profit/(loss)
(147,831)
(13,439)
Profit/(loss) for the financial year
249,359
(157,919)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
ANGLO PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
747
1,094
Investment property
4
3,130,500
3,440,500
3,131,247
3,441,594
Current assets
Debtors
5
13,191
19,455
Cash at bank and in hand
552,488
67,002
565,679
86,457
Creditors: amounts falling due within one year
6
(507,893)
(477,309)
Net current assets/(liabilities)
57,786
(390,852)
Total assets less current liabilities
3,189,033
3,050,742
Creditors: amounts falling due after more than one year
7
(125,436)
(134,667)
Provisions for liabilities
(412,344)
(345,282)
Net assets
2,651,253
2,570,793
Capital and reserves
Called up share capital
2
2
Revaluation reserve
8
1,649,376
1,817,275
Profit and loss reserves
1,001,875
753,516
Total equity
2,651,253
2,570,793
ANGLO PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 5 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 June 2025 and are signed on its behalf by:
Mr M W J Hassett
Mrs C M M Hassett
Director
Director
Company registration number 02858937 (England and Wales)
ANGLO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
1
Accounting policies
Company information
Anglo Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 78 Beckenham Road, Beckenham, Kent, United Kingdom, BR3 4RH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
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
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ANGLO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 7 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
8
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
58,145
Disposals
(1,750)
At 30 September 2024
56,395
Depreciation and impairment
At 1 October 2023
57,051
Depreciation charged in the year
249
Eliminated in respect of disposals
(1,652)
At 30 September 2024
55,648
Carrying amount
At 30 September 2024
747
At 30 September 2023
1,094
ANGLO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
4
Investment property
2024
£
Fair value
At 1 October 2023
3,440,500
Disposals
(310,000)
At 30 September 2024
3,130,500
The investment property was valued on an open market basis on 30 September 2024 by the directors.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,083
14,000
Other debtors
5,108
5,455
13,191
19,455
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
7,103
1,463
Taxation and social security
87,888
47,076
Other creditors
402,902
418,770
507,893
477,309
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
125,436
134,667
8
Revaluation reserve
2024
2023
£
£
At the beginning of the year
1,817,275
1,625,576
Other movements
(167,899)
191,699
At the end of the year
1,649,376
1,817,275