REGISTERED NUMBER: 03878477 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

ABODE INVESTMENTS LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Property, plant and equipment

4

1,535

2,048

Investment property

5

1,647,441

1,647,441

1,648,976

1,649,489

CURRENT ASSETS

Debtors

6

7,053

26,708

Cash at bank

57,100

54,219

64,153

80,927

CREDITORS

Amounts falling due within one year

7

179,559

180,611

NET CURRENT LIABILITIES

(115,406

)

(99,684

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,533,570

1,549,805

CREDITORS

Amounts falling due after more than one year

8

(1,458,304

)

(1,467,978

)

PROVISIONS FOR LIABILITIES

10

(6,844

)

(6,973

)

NET ASSETS

68,422

74,854

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

11

19,381

19,381

Retained earnings

49,039

55,471

68,422

74,854

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 directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

Mr S Chambi - Director

1.	STATUTORY INFORMATION

Abode Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03878477

Registered office:

1 Kings Avenue

London

N21 3NA

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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements and estimates involved in the preparation of the financial statements.

Revenue

Revenue represents the value of rental income chargeable in respect of the company's investment property.

Revenue is recognised evenly over the period of the rental agreement.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 25% on reducing balance/ on cost

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investment property

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 December 2023

and 30 November 2024

2,577

DEPRECIATION

At 1 December 2023

529

Charge for year

513

At 30 November 2024

1,042

NET BOOK VALUE

At 30 November 2024

1,535

At 30 November 2023

2,048

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

and 30 November 2024

1,647,441

NET BOOK VALUE

At 30 November 2024

1,647,441

At 30 November 2023

1,647,441

Fair value at 30 November 2024 is represented by:

£

Valuation in 2022

25,842

Cost

1,621,599

1,647,441

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

1,621,599

1,621,599

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

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

7,053

26,708

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

60

-

Taxation and social security

3,761

1,393

Other creditors

175,738

179,218

179,559

180,611

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,458,304

1,467,978

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,458,304

1,467,978

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans > 5 years

1,216,321

1,227,978

Bank loans are secured by way of fixed charge on the investment properties of the company and contains negative pledge.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

6,972

4,910

Other timing differences

(128

)

2,063

6,844

6,973

Deferred

tax

£

Balance at 1 December 2023

6,973

Provided during year

(129

)

Balance at 30 November 2024

6,844

11.

RESERVES

Fair

value

reserve

£

At 1 December 2023

and 30 November 2024

19,381

12.	RELATED PARTY DISCLOSURES

Included in the other debtors due within one year is an amount of £Nil (2023: £19,299) due from the directors of the company.

Included in the other creditors due within one year is an amount of £164,051 (2023: £163,951) due to a connected company with common directorship and shareholding. The loan was interest free and repayable on demand.