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REGISTERED NUMBER: 00178420 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

ABBOTT BROS.(KENT),LIMITED

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ABBOTT BROS.(KENT),LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: A E T Abbott
P H E Abbott
D J Halfhead
A T Dowson





REGISTERED OFFICE: Westgate House
87 St Dunstans Street
Canterbury
Kent
CT2 8AE





REGISTERED NUMBER: 00178420 (England and Wales)





AUDITORS: Spain Brothers & Co
Chartered Accountants and Statutory Auditors
Westgate House
87 St Dunstans Street
Canterbury
Kent
CT2 8AE

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,779 121,917
Investments 5 1,473,886 1,385,905
Investment property 6 3,985,000 3,850,000
5,576,665 5,357,822

CURRENT ASSETS
Debtors 7 14,101 8,141
Cash at bank 214,966 246,304
229,067 254,445
CREDITORS
Amounts falling due within one year 8 46,391 70,328
NET CURRENT ASSETS 182,676 184,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,759,341

5,541,939

PROVISIONS FOR LIABILITIES 9 417,105 350,627
NET ASSETS 5,342,236 5,191,312

CAPITAL AND RESERVES
Called up share capital 10 19,014 19,014
Capital reserve 11 30,000 30,000
Revaluation reserve 11 1,643,433 1,436,642
Capital redemption reserve 11 986 986
Retained earnings 11 3,648,803 3,704,670
SHAREHOLDERS' FUNDS 5,342,236 5,191,312

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th June 2025 and were signed on its behalf by:





A E T Abbott - Director


ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

Abbott Bros.(Kent),limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can be measured reliably. Other investments are measured at cost less impairment.

The methods and significant assumptions used to ascertain the fair value of £1,473,886 and fair value movement of £104,755 included in the profit/loss for the year are as follows:
The fair value of listed investments is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.
Other investments are measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and the fair value cannot otherwise be measured reliably.

Other operating income
The company's main activities are property letting and investments. The income from these activities is shown under other operating income, and is credited to the profit and loss account as it falls due. Property letting and investment income is recognised as the company's right to receive payment is established.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1st October 2023 140,000 38,259 3,428 181,687
Additions - 999 - 999
At 30th September 2024 140,000 39,258 3,428 182,686
DEPRECIATION
At 1st October 2023 20,893 35,449 3,428 59,770
Charge for year 4,307 830 - 5,137
At 30th September 2024 25,200 36,279 3,428 64,907
NET BOOK VALUE
At 30th September 2024 114,800 2,979 - 117,779
At 30th September 2023 119,107 2,810 - 121,917

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30th September 2024 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2000 191,375 - - 191,375
Valuation in 2012 (89,399 ) - - (89,399 )
Valuation in 2015 14,399 - - 14,399
Cost 23,625 39,258 3,428 66,311
140,000 39,258 3,428 182,686

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 23,625 23,625
Aggregate depreciation 10,868 8,978

Freehold land and buildings were valued on a value in use basis on 30th September 2015 by Harrisons Chartered Surveyors .

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1st October 2023 1,385,905
Additions 167,436
Disposals (184,210 )
Revaluations 104,755
At 30th September 2024 1,473,886
NET BOOK VALUE
At 30th September 2024 1,473,886
At 30th September 2023 1,385,905

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30th September 2024 is represented by:

Listed
investments
£   
Valuation in 2015 (19,635 )
Valuation in 2016 45,094
Valuation in 2017 30,553
Valuation in 2018 (372 )
Valuation in 2019 13,692
Valuation in 2020 (47,442 )
Valuation in 2021 225,184
Valuation in 2022 (154,035 )
Valuation in 2023 36,754
Valuation in 2024 138,227
Cost 1,205,866
1,473,886

If listed investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,205,866 1,256,112

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 3,850,000
Revaluations 135,000
At 30th September 2024 3,985,000
NET BOOK VALUE
At 30th September 2024 3,985,000
At 30th September 2023 3,850,000

Included in investment properties are assets valued at £3,985,000 which are used in operating leases.

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


6. INVESTMENT PROPERTY - continued

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2012 140,310
Valuation in 2015 170,878
Valuation in 2017 168,859
Valuation in 2018 64,550
Valuation in 2019 (23,200 )
Valuation in 2020 367,000
Valuation in 2021 236,000
Valuation in 2022 398,000
Valuation in 2023 18,000
Valuation in 2024 135,000
Cost 2,309,603
3,985,000

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

2024 2023
£    £   
Cost 2,309,603 2,309,603

Residential investment properties were valued on an open market basis on 30th September 2024 by the Directors.

Commercial investment properties were valued on an open market basis on 30th September 2024 by the Directors.

Valuations included for 2012 include all valuations up to this date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,334 2,095
Other debtors and prepayments 11,767 6,046
14,101 8,141

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,186 37,214
Corporation tax 12,450 2,724
Accruals and deferred income 32,755 30,390
46,391 70,328

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 417,105 350,627

Deferred
tax
£   
Balance at 1st October 2023 350,627
Provided during year 66,478
Balance at 30th September 2024 417,105

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,000 Preference £1 3,000 3,000
534 'A' Ordinary £1 534 534
15,480 'B' Ordinary £1 15,480 15,480
19,014 19,014

11. RESERVES
Capital
Retained Capital Revaluation redemption
earnings reserve reserve reserve Totals
£    £    £    £    £   

At 1st October 2023 3,704,670 30,000 1,436,642 986 5,172,298
Profit for the year 265,008 - - - 265,008
Dividends (114,084 ) - - - (114,084 )
Transfer between reserves (206,791 ) - 206,791 - -
At 30th September 2024 3,648,803 30,000 1,643,433 986 5,323,222

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Flood BFP FCA (Senior Statutory Auditor)
for and on behalf of Spain Brothers & Co

13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

ABBOTT BROS.(KENT),LIMITED (REGISTERED NUMBER: 00178420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


14. GOING CONCERN AND POST BALANCE SHEET EVENTS

For the company's 30 September 2024 financial statements the company expects to have adequate resources available to meet its obligations for at least the next twelve months and therefore the directors consider it appropriate to prepare the financial statements on the going concern basis.