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REGISTERED NUMBER: 04680770 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

ABS PROPERTY LIMITED

ABS PROPERTY LIMITED (REGISTERED NUMBER: 04680770)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ABS PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: S J Cracknell
S Wills





REGISTERED OFFICE: 162-164 High Street
Rayleigh
Essex
SS6 7BS





REGISTERED NUMBER: 04680770 (England and Wales)





ACCOUNTANTS: ESW Chartered Accountants
162-164 High Street
Rayleigh
Essex
SS6 7BS

ABS PROPERTY LIMITED (REGISTERED NUMBER: 04680770)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 700,000 700,000

CURRENT ASSETS
Debtors 5 150 -
Cash at bank 14,407 25,669
14,557 25,669
CREDITORS
Amounts falling due within one year 6 (8,652 ) (48,228 )
NET CURRENT ASSETS/(LIABILITIES) 5,905 (22,559 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

705,905

677,441

CAPITAL AND RESERVES
Called up share capital 7 2 2
Revaluation reserve 8 344,964 344,964
Retained earnings 8 360,939 332,475
SHAREHOLDERS' FUNDS 705,905 677,441

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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 30th June 2025 and were signed on its behalf by:





S J Cracknell - Director


ABS PROPERTY LIMITED (REGISTERED NUMBER: 04680770)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024

1. STATUTORY INFORMATION

ABS Property 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - not provided

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

ABS PROPERTY LIMITED (REGISTERED NUMBER: 04680770)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1st November 2023
and 31st October 2024 700,000
NET BOOK VALUE
At 31st October 2024 700,000
At 31st October 2023 700,000

Cost or valuation at 31st October 2024 is represented by:

Land and
buildings
£   
Valuation in 2006 24,964
Valuation in 2016 320,000
Cost 355,036
700,000

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 355,036 355,036

Freehold land and buildings were valued on an open market basis basis on 31st May 2016 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 150 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 8,652 1,078
Other creditors - 47,150
8,652 48,228

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 Shares £1 2 2

ABS PROPERTY LIMITED (REGISTERED NUMBER: 04680770)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st November 2023 332,475 344,964 677,439
Profit for the year 28,464 28,464
At 31st October 2024 360,939 344,964 705,903

9. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.