Abacus Properties Limited - Filleted accounts

Abacus Properties Limited
Registered number:		05384712
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		560,000			560,000

Current assets
Debtors	4	2,610			2,610
Cash at bank and in hand		2,735			1,130
		5,345			3,740

Creditors: amounts falling due within one year	5	(42,596)			(42,429)

Net current liabilities			(37,251)			(38,689)

Total assets less current liabilities			522,749			521,311

Creditors: amounts falling due after more than one year	6		(335,000)			(335,000)



Net assets			187,749			186,311

Capital and reserves
Called up share capital			50			50
Revaluation reserve	8		361,698			361,698
Profit and loss account			(173,999)			(175,437)

Shareholders' funds			187,749			186,311

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




MA Jones
Director
Approved by the board on 6 November 2025

Abacus Properties Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					1		2


3	Tangible fixed assets
								Land and buildings
£
	Cost
	At 1 April 2024							560,000
	At 31 March 2025							560,000

	Depreciation
	At 31 March 2025							-

	Net book value
	At 31 March 2025							560,000
	At 31 March 2024							560,000


4	Debtors					2025		2024
£							£

	Other debtors					2,610		2,610


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					1,333		2,421
	Corporation tax					2,702		1,448
	Other creditors					38,561		38,560
						42,596		42,429


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					335,000		335,000


7	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					335,000		335,000

	The loans is secured by a mortgage on the freehold property.


8	Revaluation reserve					2025		2024
£							£

	At 1 April 2024					361,698		361,698

	At 31 March 2025					361,698		361,698


9	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	MA Jones	2,610		10,082		10,082		2,610

		2,610		10,082		10,082		2,610


10	Other information

	Abacus Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	344 Garratt Lane
	London
	SW18 4EL