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Registered number: 03844174









ANACREONTE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
ANACREONTE PROPERTIES LIMITED
REGISTERED NUMBER: 03844174

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
328,778
399,995

Investments
 5 
96,446
55,940

Investment property
 6 
13,700,759
14,335,000

  
14,125,983
14,790,935

Current assets
  

Debtors: amounts falling due within one year
 7 
546,757
430,128

Cash at bank and in hand
 8 
634,213
751,918

  
1,180,970
1,182,046

Creditors: amounts falling due within one year
 9 
(1,530,327)
(1,484,891)

Net current liabilities
  
 
 
(349,357)
 
 
(302,845)

Total assets less current liabilities
  
13,776,626
14,488,090

Provisions for liabilities
  

Deferred tax
 10 
(1,852,266)
(2,176,507)

Net assets
  
11,924,360
12,311,583


Capital and reserves
  

Called up share capital 
  
2
2

Non-distributable reserve
  
7,361,279
8,278,937

Profit and loss account
  
4,563,079
4,032,644

  
11,924,360
12,311,583


Page 1

 
ANACREONTE PROPERTIES LIMITED
REGISTERED NUMBER: 03844174
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Ms G R Anacreonte
Director

Date: 7 July 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Anacreonte Properties Limited ("the Company") is a private company limited by shares and incorporated in England and Wales. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the Company is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. 
Revenue principally comprises income recognised by the Company in respect of rent charged and other ancillary services supplied during the period, exclusive of Value Added Tax and trade discounts.
Rental income is recognised on a straight line basis over the term of the lease. Amounts invoiced in advance of the tenancy period are deferred accordingly and recognised as income in the period to which they relate.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 3

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

  
2.9

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.10

Valuation of investments

Other fixed asset investments, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to the Statement of comprehensive income.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 4).

Page 6

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 December 2023
394,969
4,536
459,776
859,281


Additions
1,426
17,304
20,717
39,447


Disposals
(13,301)
(4,536)
(190,159)
(207,996)



At 30 November 2024

383,094
17,304
290,334
690,732



Depreciation


At 1 December 2023
231,344
4,404
223,538
459,286


Charge for the year on owned assets
41,058
3,999
59,583
104,640


Disposals
(11,874)
(4,437)
(185,661)
(201,972)



At 30 November 2024

260,528
3,966
97,460
361,954



Net book value



At 30 November 2024
122,566
13,338
192,874
328,778



At 30 November 2023
163,625
132
236,238
399,995


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 December 2023
55,940


Additions
22,626


Revaluations
17,880



At 30 November 2024
96,446




Page 7

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 December 2023
14,335,000


Additions at cost
589,303


Surplus on revaluation
(1,223,544)



At 30 November 2024
13,700,759


Comprising


Cost
4,879,514

Annual revaluation surplus/(deficit):


Revaluation
8,821,245

At 30 November 2024
13,700,759

The 2024 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Trade debtors
41,642
32,872

Other debtors
492,633
390,297

Prepayments and accrued income
12,482
6,959

546,757
430,128



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
634,213
751,918


Page 8

 
ANACREONTE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
92,528
94,267

Corporation tax
178,112
125,866

Other taxation and social security
4,290
2,353

Other creditors
1,251,453
1,250,530

Accruals and deferred income
3,944
11,875

1,530,327
1,484,891



10.


Deferred taxation




2024
2023


£

£






At beginning of year
2,176,507
369,208


Charged to profit or loss
(324,241)
1,807,299



At end of year
1,852,266
2,176,507

The provision for deferred taxation is made up as follows:

2024
2023
£
£


On revaluation of investment property
1,825,175
2,131,061

Accelerated capital allowances
27,091
45,446

1,852,266
2,176,507


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,850 (2023 - £1,668). Contributions totalling £627 (2023 - £341) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9