Ablemare Properties Limited
Registered number: 06008149
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Investment properties 3 1,279,200 1,986,700
Current assets
Cash at bank and in hand 36,359 27,588
Creditors: amounts falling due within one year 4 (44,575) (71,833)
Net current liabilities (8,216) (44,245)
Total assets less current liabilities 1,270,984 1,942,455
Creditors: amounts falling due after more than one year 5 (202,996) (853,098)
Provisions for liabilities (137,313) (170,142)
Net assets 930,675 919,215
Capital and reserves
Called up share capital 2 2
Non distributed reserves 6 507,687 735,858
Profit and loss account 422,986 183,355
Shareholders' funds 930,675 919,215
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
John Netttleingham
Director
Approved by the board on 23 August 2025
Ablemare Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is shown at the most recent market valuations. Any aggregate surplus or
deficit arising from the changes in fair value so recognised in the profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investment property
Land and buildings
£
Fair value
At 1 December 2023 1,986,700
Fair value movements (261,000)
Disposals (446,500)
At 30 November 2024 1,279,200
Depreciation
At 30 November 2024 -
Net book value
At 30 November 2024 1,279,200
At 30 November 2023 1,986,700
Freehold land and buildings: 2024 2023
£ £
Historical cost 615,000 1,049,000
Cumulative depreciation based on historical cost - -
615,000 1,049,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 43,600 70,858
Other creditors 975 975
44,575 71,833
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 202,996 664,577
Other creditors - 188,521
202,996 853,098
6 Non-distributable reserve 2024 2023
£ £
At 1 December 2023 735,858 1,091,846
Loss on revaluation of land and buildings (261,000) (379,070)
Deferred taxation arising on the revaluation of land and buildings 32,829 23,082
At 30 November 2024 507,687 735,858
7 Other information
Ablemare Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Willows
Doddinghurst Road
Brentwod
Essex
CM15 0QJ
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