Company registration number 06988288 (England and Wales)
AED PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
AED PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
AED PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
680
850
Investment property
5
2,783,422
1,120,000
2,784,102
1,120,850
Current assets
Debtors
6
18,425
5,600
Cash at bank and in hand
100,333
834,209
118,758
839,809
Creditors: amounts falling due within one year
7
(858,581)
(542,148)
Net current (liabilities)/assets
(739,823)
297,661
Total assets less current liabilities
2,044,279
1,418,511
Creditors: amounts falling due after more than one year
8
(213,457)
-
Provisions for liabilities
9
(83,000)
Net assets
1,747,822
1,418,511
Capital and reserves
Called up share capital
10
6
6
Share premium account
11
639,995
639,995
Revaluation reserve
12
411,706
404,706
Profit and loss reserves
13
696,115
373,804
Total equity
1,747,822
1,418,511
AED PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
Mr D J Rowlson
Ms M Rainbow
Director
Director
Company registration number 06988288 (England and Wales)
AED PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
AED Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cabourn House, Station Street, Bingham, Nottinghamshire, United Kingdom, NG13 8AQ.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the net invoiced rent receivable from the company's property portfolio, excluding value added tax.
Where the rental period straddles the financial year end, the proportion that relates tot the following year is deferred. Equally if the invoice falls in the following year, any element of the sale that relates tot the current year is accrued.
1.3
Tangible fixed assets
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:
Computers
20% on reducing balance
1.4
Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. Deferred taxation is provided on these gains or losses, to the extent that they are recoverable, at the rate expected to apply when the property is sold.
Movements in these fair values are transferred to the revaluation reserve for a clear separation of realised and unrealised gains and losses.
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.
AED PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
170
212
Profit on disposal of investment property
(16,290)
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
AED PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
1,328
Depreciation and impairment
At 1 January 2024
478
Depreciation charged in the year
170
At 31 December 2024
648
Carrying amount
At 31 December 2024
680
At 31 December 2023
850
5
Investment property
2024
£
Fair value
At 1 January 2024
1,120,000
Additions
1,573,422
Disposals
(260,000)
Revaluations
350,000
At 31 December 2024
2,783,422
The investment properties were valued on an open market basis on 31 December 2024 by the directors.
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
2,288,716
715,294
Accumulated depreciation
-
-
Carrying amount
2,288,716
715,294
AED PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,864
5,600
Other debtors
561
18,425
5,600
7
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
48,685
Trade creditors
827
2,383
Corporation tax
19,458
Other taxation and social security
8,795
3,258
Deferred income
23,370
4,667
Other creditors
755,696
530,340
Accruals and deferred income
1,750
1,500
858,581
542,148
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other borrowings
213,457
The amounts included within 'other borrowings' relate to a loan received from the sponsored pension scheme. This loan is on commercial terms and is secured by a fixed and floating charge over all assets, present and future, of the company.
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
83,000
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of 1p each
100
100
1
1
B Ordinary of 1p each
500
500
5
5
600
600
6
6
AED PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Called up share capital
(Continued)
- 7 -
Both classes of shares rank pari passu in all respects.
11
Share premium account
2024
2023
£
£
At the beginning and end of the year
639,995
639,995
12
Revaluation reserve
2024
2023
£
£
At the beginning of the year
404,706
404,706
Revaluation surplus arising in the year
350,000
Deferred tax on revaluation of tangible assets
(83,000)
-
Transfer to retained earnings
(260,000)
At the end of the year
411,706
404,706
The revaluation reserve contains cumulative gains and losses on the revaluation of investment property, net of deferred tax.
The transfer to retained earnings is to account for the investment property disposal that took place in the period.
13
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
373,804
378,948
Adjusted balance
373,804
378,948
Profit/(loss) for the year
329,311
(5,144)
Transfer from revaluation reserve
(7,000)
At the end of the year
696,115
373,804
14
Related party transactions
Balances with related parties
Directors operated loan accounts with the company. The amounts owed were interest free and repayable on demand.
AED PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14
Related party transactions
(Continued)
- 8 -
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Directors
755,696
529,880
15
Parent company
There is no one overall controlling party.
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