REGISTERED NUMBER: 09892779 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2025

FOR

AC PROP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J B Campbell

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

09892779 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

4

303,775

307,554

CURRENT ASSETS

Debtors

5

8,571

-

Cash at bank

427

75

8,998

75

CREDITORS

Amounts falling due within one year

6

142,768

137,592

NET CURRENT LIABILITIES

(133,770

)

(137,517

)

TOTAL ASSETS LESS CURRENT LIABILITIES

170,005

170,037

CREDITORS

Amounts falling due after more than one year

7

(235,000

)

(235,000

)

PROVISIONS FOR LIABILITIES

8

-

(511

)

NET LIABILITIES

(64,995

)

(65,474

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

(65,095

)

(65,574

)

(64,995

)

(65,474

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2025 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 December 2025 and were signed by:

J B Campbell - Director

1.	STATUTORY INFORMATION

Ac Prop 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is represented by rental income.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

COST OR VALUATION

At 31 March 2024

and 30 March 2025

300,000

37,786

6,896

344,682

DEPRECIATION

At 31 March 2024

-

30,232

6,896

37,128

Charge for year

-

3,779

-

3,779

At 30 March 2025

-

34,011

6,896

40,907

NET BOOK VALUE

At 30 March 2025

300,000

3,775

-

303,775

At 30 March 2024

300,000

7,554

-

307,554

Cost or valuation at 30 March 2025 is represented by:

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

Valuation in 2020

15,000

-

-

15,000

Valuation in 2021

24,000

-

-

24,000

Valuation in 2022

22,000

-

-

22,000

Valuation in 2023

(41,000

)

-

-

(41,000

)

Cost

280,000

37,786

6,896

324,682

300,000

37,786

6,896

344,682

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

8,571

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,656

5,828

Tax

879

890

Other creditors

93,239

88,739

Directors' loan accounts

42,135

40,143

Accrued expenses

1,859

1,992

142,768

137,592

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Directors' loan accounts

235,000

235,000

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Other timing differences

-

511

Deferred

tax

£

Balance at 31 March 2024

511

Credit to Income Statement during year

(511

)

Balance at 30 March 2025

-

9.

RESERVES

Retained

earnings

£

At 31 March 2024

(65,574

)

Profit for the year

479

At 30 March 2025

(65,095

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period, J B Campbell increased his loan to the company. As at 31 March 2025, the company owed him £42,135 (2024: £40,143) of which this balance represented the maximum amount outstanding during the period and was repayable on demand.

In addition to this the director maintained a long term loan to the company of £235,000 which is not repayable in the next 12 months.

Both loans have been lent to the company interest free.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is J B Campbell.

This was by virtue of his 100% holding of the issued share capital.