REGISTERED NUMBER: 03138929 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Abbey Properties Cambridgeshire Limited

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

9

Directors:

D Sutton

Ms T Salisbury

M Hildred

Registered office:

1 Oak Court, Willow Road

The Lakes Business Park

Fenstanton

Huntingdon

Cambridgeshire

PE28 9RE

Registered number:

03138929 (England and Wales)

Accountants:

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abbey Properties Cambridgeshire Limited for the year ended 31 December 2024 which comprise the Income statement, Statement of financial position 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Abbey Properties Cambridgeshire Limited, as a body, in accordance with the terms of our engagement letter dated 5 March 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Abbey Properties Cambridgeshire Limited and state those matters that we have agreed to state to the Board of Directors of Abbey Properties Cambridgeshire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Properties Cambridgeshire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Abbey Properties Cambridgeshire 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 profit of Abbey Properties Cambridgeshire Limited. You consider that Abbey Properties Cambridgeshire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Abbey Properties Cambridgeshire 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.

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambridgeshire

PE6 8EA

29 August 2025

Fixed assets

Tangible assets

5

575,282

627,928

Investments

6

171,455

484,507

746,737

1,112,435

Current assets

Stocks

2,750,296

948,682

Debtors

7

13,865,716

14,065,041

Cash at bank and in hand

80,346

239,279

16,696,358

15,253,002

Creditors

Amounts falling due within one year

8

1,095,074

466,439

Net current assets

15,601,284

14,786,563

Total assets less current liabilities

16,348,021

15,898,998

Creditors

Amounts falling due after more than one year

9

(211,546

)

(90,573

)

Provisions for liabilities

(38,010

)

(61,685

)

Net assets

16,098,465

15,746,740

Capital and reserves

Called up share capital

11

5,000

5,000

Retained earnings

16,093,465

15,741,740

Shareholders' funds

16,098,465

15,746,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 29 August 2025 and were signed on its behalf by:

D Sutton - Director

1.	Statutory information

Abbey Properties Cambridgeshire 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Abbey Properties Cambridgeshire Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of property is recognised in the period that the property is sold.

Revenue from contracts for the provision of professional services is recognised as the company obtains the right to consideration under the performance of these services.

Revenue from electricity generation is recognised in the period the electricity is generated.

Rental income is recognised on a straight line basis over the period of the lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings - 100 years straight line

Plant and machinery - 20 years straight line/10% or 33% reducing balance

Fixtures and fittings - 4 years straight line

Motor vehicles - 3 year straight line

Investments in subsidiaries and associates

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long-term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost. adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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 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.

Foreign currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Pension costs and other post-retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

4.	Employees and directors

The average number of employees during the year was 3 (2023 - 6 ) .

5.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 January 2024

363,848

314,611

13,679

323,527

1,015,665

Additions

-

1,580

5,359

-

6,939

Disposals

-

-

-

(106,835

)

(106,835

)

At 31 December 2024

363,848

316,191

19,038

216,692

915,769

Depreciation

At 1 January 2024

2,275

119,892

13,047

252,523

387,737

Charge for year

352

15,356

660

43,217

59,585

Eliminated on disposal

-

-

-

(106,835

)

(106,835

)

At 31 December 2024

2,627

135,248

13,707

188,905

340,487

Net book value

At 31 December 2024

361,221

180,943

5,331

27,787

575,282

At 31 December 2023

361,573

194,719

632

71,004

627,928

6.	Fixed asset investments

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

Cost

At 1 January 2024

483,955

552

484,507

Additions

300

-

300

Disposals

(100

)

(100

)

(200

)

Impairments

(313,152

)

-

(313,152

)

At 31 December 2024

171,003

452

171,455

Net book value

At 31 December 2024

171,003

452

171,455

At 31 December 2023

483,955

552

484,507

During the year, the Company reviewed the carrying value of its investments in Horizon House Cambourne Ltd and ILI (Yonderton) Ltd, both wholly owned subsidiaries. Following a reduction in the subsidiaries’ net assets and continued weak trading performance, the directors determined that the recoverable amounts of the investments were lower than their carrying amounts. Accordingly, an impairment charge of £313,152 has been recognised in the profit and loss account, comprising £87,028 in respect of Horizon House Cambourne Ltd and £226,124 in respect of ILI (Yonderton) Ltd.

The carrying amount of the Company’s remaining investments in subsidiaries has been assessed and no further impairment was considered necessary.

7.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

105,598

124,175

Amounts owed by group undertakings

12,879,824

13,117,559

Amounts owed by participating interests

847,273

787,611

Other debtors

33,021

35,696

13,865,716

14,065,041

8.

Creditors: amounts falling due within one year

2024

2023

£

£

Hire purchase contracts

-

37,509

Trade creditors

46,101

56,434

Amounts owed to group undertakings

113,700

60,000

Amounts owed to participating interests

-

119,401

Taxation and social security

11,575

11,596

Other creditors

923,698

181,499

1,095,074

466,439

9.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Other creditors

211,546

90,573

10.	Secured debts

Obligations under finance leases £nil (2023: £37,509) are secured on the assets concerned.

A fixed charge has been registered over the company's assets in favour of Barclays Bank PLC, in respect of loan facilities provided to a fellow group company, Abbey Real Estate Cambridgeshire Ltd.

The company is not the borrower under this arrangement but has granted the charge as part of group financing arrangements. No liability has been recognised in these financial statements as the company has not drawn down on the facility.

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary A

1

1,000

1,000

4,000

Ordinary B

1

4,000

4,000

5,000

5,000

12.	Related party disclosures

As at 31 December 2024, Abbey Properties Cambridgeshire Ltd was due an amount totalling £12,766,125 (2023: £13,057,559) from group undertakings.

As at 31 December 2024, Abbey Properties Cambridgeshire Ltd was due an amount totalling £847,273 (2023: £668,309) from related parties.

13.	Parent company

The immediate and ultimate parent company is The Abbey Group Cambridgeshire Limited. The registered office address is 1 Oak Court, Willow Road, The Lakes Business Park, Fenstanton, Huntingdon, PE28 9RE.