REGISTERED NUMBER: 07865649 (England and Wales)

AUDLEY SQUARE PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 26 NOVEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

V Patel

SECRETARY:

V K Patel

REGISTERED OFFICE:

2nd Floor, One Hobbs House

Harrovian Business Village

Bessborough Road

Harroow

Middlesex

HA1 3EX

REGISTERED NUMBER:

07865649 (England and Wales)

ACCOUNTANTS:

Albury Associates Limited

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Investments

4

52

463

CURRENT ASSETS

Debtors

5

346,433

1,087,510

Cash at bank

2,726

3,052

349,159

1,090,562

CREDITORS

Amounts falling due within one year

6

167,999

186,198

NET CURRENT ASSETS

181,160

904,364

TOTAL ASSETS LESS CURRENT LIABILITIES

181,212

904,827

CREDITORS

Amounts falling due after more than one year

7

237,633

171,555

NET (LIABILITIES)/ASSETS

(56,421

)

733,272

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

(56,423

)

733,270

SHAREHOLDERS' FUNDS

(56,421

)

733,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 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.

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 director and authorised for issue on 23 September 2025 and were signed by:

V Patel - Director

1.	STATUTORY INFORMATION

Audley Square Properties Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Going concern

The Financial Statements have been prepared on a going concern basis, as the director has confirmed that funds will continue to be made available for the company to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that may result from the withdrawal of this support and the director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 27 November 2023

463

Disposals

(411

)

At 26 November 2024

52

NET BOOK VALUE

At 26 November 2024

52

At 26 November 2023

463

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

203,364

902,643

Other debtors

46,667

51,424

250,031

954,067

Amounts falling due after more than one year:

Trade debtors

-

51,873

Other debtors

96,402

81,570

96,402

133,443

Aggregate amounts

346,433

1,087,510

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

6,224

6,071

Trade creditors

-

1,800

Amounts owed to group undertakings

87,626

109,166

Taxation and social security

50,685

47,167

Other creditors

23,464

21,994

167,999

186,198

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

27,180

33,404

Other creditors

210,453

138,151

237,633

171,555

8.	SECURED DEBTS

Although there is no direct indebtedness to Arbuthnot Latham & Co Ltd, a Debenture dated 14 December 2018 in which Audley Square Properties Limited has provided a cross guarantee, secured by way of a fixed charge and negative pledge in respect of loans to related entities, exists.

Additionally, again although there is no direct indebtedness to Maslow IV Limited and Spear Investments Ireland DAC, two Debentures dated 15 July 2021 in which Audley Square Properties Limited has provided a cross guarantee, secured by way of a fixed charge and negative pledge in respect of loans to related entities, exists.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary Shares

£1

2

2

10.

RESERVES

Retained

earnings

£

At 27 November 2023

733,270

Deficit for the year

(789,693

)

At 26 November 2024

(56,423

)

11.	RELATED PARTY DISCLOSURES

At the balance sheet date, included within debtors, is an amount of £163,640 (2023: £854,087) owed by

related entities in which V Patel has beneficial interest.

At the balance sheet date, included within debtors, is an amount of £136,126 (2023: £130,126) owed by the director V Patel.

At the balance sheet date, included within debtors, is an amount of £2,399 (2023: £7,494) owed by B Patel .

The amounts above are unsecured, interest free and repayable on demand.

At the balance sheet date, included within creditors, amounts falling due within one year, is an amount of

£87,626 (2023: £109,166) owed to related entities in which V Patel has beneficial interest.

At the balance sheet date, included within creditors, amounts falling due after more than one year, is an amount of £140,534 (2023: £52,163) owed to related entities in which B Patel has beneficial interest.

These amounts are unsecured, interest free and payable on demand.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is V Patel.