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Registration number: 10219108

AM Property Lettings Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 30 June 2024

AM Property Lettings Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 8

AM Property Lettings Limited

Company Information

Directors | Mr M T Hayward Mrs A R Hayward Mrs J H Hayward

Registered office | 77a Cheap Street Sherborne Dorset DT9 3BA

Accountants | Lanham & Francis Chartered Accountants77a Cheap Street Sherborne Dorset DT9 3BA

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AM Property Lettings Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AM Property Lettings Limited for the year ended 30 June 2024 as set out on pages 3 to 8 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that AM Property Lettings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AM Property Lettings Limited. You consider that AM Property Lettings 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 accounts of AM Property Lettings 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 accounts.

Lanham & Francis
Chartered Accountants
77a Cheap Street
Sherborne
Dorset
DT9 3BA

9 October 2025

AM Property Lettings Limited

(Registration number: 10219108)
Balance Sheet as at 30 June 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Investment property | 4 | 3,310,360 | 3,080,916
Current assets |  |  |
Debtors | 5 | 1,230 | 444
Cash at bank and in hand |  | 183 | 12,849
|  | 1,413 | 13,293
Creditors: Amounts falling due within one year | 6 | (2,201,333) | (2,145,025)
Net current liabilities |  | (2,199,920) | (2,131,732)
Total assets less current liabilities |  | 1,110,440 | 949,184
Creditors: Amounts falling due after more than one year | 6 | (653,585) | (532,845)
Net assets |  | 456,855 | 416,339
Capital and reserves |  |  |
Called up share capital | 7 | 1 | 1
Retained earnings |  | 456,854 | 416,338
Shareholders' funds |  | 456,855 | 416,339

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 October 2025 and signed on its behalf by:

Mr M T Hayward Director |  |

AM Property Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
77a Cheap Street
Sherborne
Dorset
DT9 3BA

The principal place of business is:
4 Wyvern Close
Yeovil
Somerset
BA20 2HF

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rent of property in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

AM Property Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2 | Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Depreciation

Asset class | Depreciation method and rate
Investment property | nil provision

Investment property

Investment properties are valued using open market valuation on freehold basis conducted annually. The valuations have been conducted by Mr M T Hayward who is internal to the company.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Classification
FRS 102 classifies financial instruments as either basic financial instruments or other financial instruments. The accounting treatment varies according to the classification.
Basic financial instruments are defined as one of the following:
- cash
- a debt instrument (such as accounts receivable and payable)
- commitment to receive a loan that satisfy certain criteria
- investments in non-convertible preference shares, and non puttable ordinary shares.
All other financial instruments are classed as other financial instruments and treated accordingly.
Recognition and measurement
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

AM Property Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4 | Investment properties

| 2024 £
At 1 July | 3,080,916
Additions | 229,444
At 30 June | 3,310,360

The properties have been valued by M T Hayward, a director of the company.

There has been no valuation of investment property by an independent valuer.

5 | Debtors

| 2024 £ | 2023 £
Prepayments | 1,230 | 444
| 1,230 | 444

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Trade creditors |  | - | 384
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 8 | 2,019,718 | 1,991,718
Taxation and social security |  | 26,693 | 28,998
Accruals and deferred income |  | 2,756 | 2,646
Other creditors |  | 152,166 | 121,279
|  | 2,201,333 | 2,145,025

AM Property Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6 | Creditors (continued)

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings |  | 653,585 | 532,845

| 2024 £ | 2023 £
Due after more than five years |  |
After more than five years not by instalments | 653,585 | 532,845

| - | -

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £528,700 (2022 - £217,250).

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £0.01 each | 100 | 1 | 100 | 1

8 | Related party transactions

At 30 June 2024 the company was in receipt of an interest free loan from one of the directors, M T Hayward, of £152,166 (2023: £121,279).

Summary of transactions with parent

Two of the directors, Mr M T Hayward and Mrs J H Hayward, wholly own A M Networks Limited. A M Property Lettings Limited is a part owned subsidiary of and has received a loan from A M Networks Limited.

Loans from related parties

2024 | Parent £ | Total £
At start of period | 1,991,718 | 1,991,718
Advanced | 88,530 | 88,530
Repaid | (60,530) | (60,530)
At end of period | 2,019,718 | 2,019,718

AM Property Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8 | Related party transactions (continued)

2023 | Parent £ | Total £
At start of period | 2,147,218 | 2,147,218
Repaid | (155,500) | (155,500)
At end of period | 1,991,718 | 1,991,718

Terms of loans from related parties

The loan is interest free and repayable on demand.

9 | Parent and ultimate parent undertaking

The company's immediate parent is AM Networks Ltd, incorporated in England & Wales.
Its registered office is 77a Cheap Street, Sherborne, Dorset, DT9 3BA.