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Registered number: 13725089









ABRG PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
ABRG PROPERTIES LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ABRG PROPERTIES LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ABRG Properties Limited for the year ended 30 November 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the Board of Directors of ABRG Properties Limited, as a body, in accordance with the terms of our engagement letter dated 5 November 2021Our work has been undertaken solely to prepare for your approval the financial statements of ABRG Properties Limited and state those matters that we have agreed to state to the Board of Directors of ABRG Properties Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABRG Properties Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that ABRG Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of ABRG Properties Limited. You consider that ABRG Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of ABRG Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Milton Avis LLP
 
Chartered Accountants
  
120 Baker Street
London
W1U 6TU
29 August 2025
Page 1

 
ABRG PROPERTIES LIMITED
REGISTERED NUMBER: 13725089

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,538,456
1,651,213

  
1,538,456
1,651,213

Current assets
  

Debtors: amounts falling due within one year
 5 
2,116
12,268

Cash at bank and in hand
 6 
183
146,012

  
2,299
158,280

Creditors: amounts falling due within one year
 7 
(153,870)
(25,478)

Net current (liabilities)/assets
  
 
 
(151,571)
 
 
132,802

Total assets less current liabilities
  
1,386,885
1,784,015

Creditors: amounts falling due after more than one year
 8 
(1,240,803)
(1,516,245)

Provisions for liabilities
  

Deferred tax
 10 
(22,459)
(50,985)

  
 
 
(22,459)
 
 
(50,985)

Net assets
  
123,623
216,785


Capital and reserves
  

Called up share capital 
  
50
50

Profit and loss account
  
123,573
216,735

  
123,623
216,785

Page 2

 
ABRG PROPERTIES LIMITED
REGISTERED NUMBER: 13725089
    
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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income and retained earnings 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 on 29 August 2025.




................................................
Colin Gerstein
................................................
Akbar De Medici
Director
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

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

1.


General information

The Company is a private company limited by shares and is registered in England and Wales. Its current registered office is 10 The Stables, Broadfield Way, Aldenham, Watfield, Hertfordshire, WD25 8DG. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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 from rent recieved is recognised on a cash recieved basis.

 
2.3

Finance costs

Finance costs are charged to profit or loss on a straight line basis.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.


 
2.6

Investment property

Investment property is carried at fair value determined annually by the Directors. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price. Loans receivable are measured initially at fair value, net of transaction costs.

 
2.8

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.

 
2.9

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.

Page 5

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

2.Accounting policies (continued)

 
2.10

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 profit or loss.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Average number of employees
2
2


4.


Investment property


Freehold investment property

£



Valuation


At 1 December 2023
1,651,213


Additions at cost
1,348


Impairment on revaluation
(114,105)



At 30 November 2024
1,538,456

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




Page 6

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

5.


Debtors

2024
2023
£
£


Trade debtors
-
(344)

Corporation tax refund
214
-

Prepayments and accrued income
1,902
12,612

2,116
12,268



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
183
146,012

183
146,012



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
33,794

Corporation tax
-
2,784

Amounts owed to connected company
126,858
(24,192)

Accruals and deferred income
27,012
13,092

153,870
25,478


Page 7

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

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
318,636
317,278

Amounts owed to connected company
922,167
1,198,967

1,240,803
1,516,245


The company borrowed funds from a connected company to acquire the property portfolio. The loans will become repayable at the eariler of the date of sale of properties or in ten years time. Interest is charged at 1% per annum payable on redemption of the loan. 


9.


Loans


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
318,636
317,278


318,636
317,278


318,636
317,278



10.


Deferred taxation



2024


£






At beginning of year
(50,985)


Release to the profit and loss
28,526



At end of year
(22,459)

Page 8

 
ABRG PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
£


Accumulated gains on investment property
22,459

 
Page 9