Statutory Information
3ME RESIDENTIAL PROPERTIES LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 14554268, registration address Studio 20 3me Studios, Industry Road, Newcastle Upon Tyne, Tyne And Wear, NE6 5XB, England.
The presentation currency is £ sterling.
| 1. |
Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
| 2. |
Tangible fixed assets
| Cost or Valuation |
|
Plant and machinery |
|
Fixtures and fittings |
|
Total |
| |
|
£ |
|
£ |
|
£ |
| At 01 January 2024 |
|
1,885 |
|
- |
|
1,885 |
| Additions |
|
1,430 |
|
3,374 |
|
4,804 |
| At 31 December 2024 |
|
3,315 |
|
3,374 |
|
6,689 |
| Depreciation |
| At 01 January 2024 |
|
377 |
|
- |
|
377 |
| Charge for year |
|
588 |
|
675 |
|
1,263 |
| At 31 December 2024 |
|
965 |
|
675 |
|
1,640 |
| Net book values |
| Closing balance as at 31 December 2024 |
|
2,350 |
|
2,699 |
|
5,049 |
| Opening balance as at 01 January 2024 |
|
1,508 |
|
- |
|
1,508 |
|
| 3. |
Financial assets
| Cost or Valuation |
|
Investment in property |
|
Total |
| |
|
£ |
|
£ |
| At 01 January 2024 |
|
595,000 |
|
595,000 |
| Additions |
|
220,000 |
|
220,000 |
| At 31 December 2024 |
|
815,000 |
|
815,000 |
| Depreciation |
| At 01 January 2024 |
|
- |
|
- |
| Revaluation adjustments |
|
(37,500) |
|
(37,500) |
| At 31 December 2024 |
|
(37,500) |
|
(37,500) |
| Net book values |
| At 31 December 2024 |
|
852,500 |
|
852,500 |
| At 01 January 2024 |
|
595,000 |
|
595,000 |
|
| 4. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Accrued expenses |
534 |
|
- |
| Alexander's loan |
80,000 |
|
80,000 |
| Reef Futures Consulting Ltd’s loan |
25,000 |
|
25,000 |
| Tenant Deposit |
1,325 |
|
1,325 |
| Directors' current account |
399,414 |
|
144,706 |
| Social security & other tax |
- |
|
130 |
|
506,273 |
|
251,161 |
|
| 5. |
Creditors: amount falling due after more than one year
|
2024
£ |
|
2023
£ |
| TMW Mortgage |
100,459 |
|
- |
| Mortgage loan |
- |
|
211,350 |
| Kent Reliance Mortgage |
107,058 |
|
- |
|
207,517 |
|
211,350 |
|
| 6. |
Reserves
|
2024
£ |
|
2023
£ |
| Revaluation reserves |
193,785 |
|
156,285 |
|
193,785 |
|
156,285 |
|
| 7. |
Profit and loss account
| |
2024
£ |
| Balance at 01 January 2024 |
(22,373) |
| Loss for the year |
(24,176) |
| Balance at 31 December 2024 |
(46,549) |
|
| 8. |
Average number of employees
Average number of employees during the year were 2 (2023: 2).
|
2
|