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REGISTERED NUMBER: 10685712 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

ADAMS PROPERTY PARTNERSHIP LIMITED

ADAMS PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 10685712)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ADAMS PROPERTY PARTNERSHIP LIMITED

COMPANY INFORMATION
for the year ended 30 November 2024







DIRECTOR: Mr J Adams





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 10685712 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

ADAMS PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 10685712)

ABRIDGED BALANCE SHEET
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 204 306
Investment property 5 20,827,804 20,965,000
20,828,008 20,965,306

CURRENT ASSETS
Debtors 794,584 742,293
Investments 70,692 69,008
Cash at bank 366,866 393,057
1,232,142 1,204,358
CREDITORS
Amounts falling due within one year 306,229 283,071
NET CURRENT ASSETS 925,913 921,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,753,921

21,886,593

CREDITORS
Amounts falling due after more than one
year

6

(13,268,897

)

(13,639,492

)

PROVISIONS FOR LIABILITIES (341,721 ) (264,856 )
NET ASSETS 8,143,303 7,982,245

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 7,799,744 7,799,744
Fair value reserve 1,439,561 1,150,811
Retained earnings (1,097,002 ) (969,310 )
SHAREHOLDERS' FUNDS 8,143,303 7,982,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ADAMS PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 10685712)

ABRIDGED BALANCE SHEET - continued
30 November 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2025 and were signed by:





Mr J Adams - Director


ADAMS PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 10685712)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2024

1. STATUTORY INFORMATION

Adams Property Partnership 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 accounts have been prepared on the going concern basis as the director is of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director.

Rental income
Rent is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other relevant taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

ADAMS PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 10685712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Current asset investments
Current asset investments are recognised at costs less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 2,090
DEPRECIATION
At 1 December 2023 1,784
Charge for year 102
At 30 November 2024 1,886
NET BOOK VALUE
At 30 November 2024 204
At 30 November 2023 306

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 20,965,000
Additions 77,804
Disposals (600,000 )
Revaluations 385,000
At 30 November 2024 20,827,804
NET BOOK VALUE
At 30 November 2024 20,827,804
At 30 November 2023 20,965,000

Investment property was valued on an open market basis on 30 November 2024 by the director.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans 13,258,897 13,619,492

ADAMS PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 10685712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 13,258,897 13,619,492

Bank loans are secured by way of a fixed and floating charge over the properties held by the company.

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £151,685 (2023: £129,920) to Flexview Limited, £145,839 (2023: nil) to Krestbay Limited, and at the previous balance sheet date was owed £29,396 by Openway Trading Limited, companies controlled by close family members of Adams Property Partnership Limited‘s majority shareholders.