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Company Registration No. 13364118 (England and Wales)
Stepney Properties Limited Unaudited accounts for the year ended 30 April 2025
Stepney Properties Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Stepney Properties Limited Company Information for the year ended 30 April 2025
Director
Abdul Bashir Khan
Company Number
13364118 (England and Wales)
Registered Office
24 Aston Street Limehouse London E14 7NF England
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Stepney Properties Limited Statement of financial position as at 30 April 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
583
875
Investment property
5
420,250
420,250
420,833
421,125
Current assets
Debtors
6
1,523
1,382
Cash at bank and in hand
72,203
51,080
73,726
52,462
Creditors: amounts falling due within one year
7
(471,666)
(460,727)
Net current liabilities
(397,940)
(408,265)
Net assets
22,893
12,860
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
22,793
12,760
Shareholders' funds
22,893
12,860
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 December 2025 and were signed on its behalf by
Abdul Bashir Khan Director Company Registration No. 13364118
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Stepney Properties Limited Notes to the Accounts for the year ended 30 April 2025
1
Statutory information
Stepney Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 13364118. The registered office is 24 Aston Street, Limehouse, London, E14 7NF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation at fair value of investment properties.
Presentation currency
The functional and presentational currency of the company is UK £ sterling and amounts are rounded to the nearest £.
Going concern
The financial statements are prepared on a going concern basis despite net current liabilities at the year end which is dependent on the continued support of its shareholders. In the opinion of the director, the company expects to receive income or have funds available to meet obligations as and when they fall due.
Turnover
Turnover represents rent receivable which is recognised in the period in which they are due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Straight line over 5 years
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost which includes the purchase cost and any attributable expenditure. Subsequently they are measured at fair value. Gains and losses arising from changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. Fair value valuations are determined by the directors with the benefit of external professionals and available data on current market rents and rental yields for comparable local properties adjusted for any difference in nature, location or condition of the property.
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Stepney Properties Limited Notes to the Accounts for the year ended 30 April 2025
Taxation
Taxation for the year comprises of current and deferred tax. Current tax is recognised in the income statement. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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Stepney Properties Limited Notes to the Accounts for the year ended 30 April 2025
4
Tangible fixed assets
Fixtures & fittings
£
Cost or valuation
At cost
At 1 May 2024
1,459
At 30 April 2025
1,459
Depreciation
At 1 May 2024
584
Charge for the year
292
At 30 April 2025
876
Net book value
At 30 April 2025
583
At 30 April 2024
875
5
Investment property
2025
£
Fair value at 1 May 2024
420,250
At 30 April 2025
420,250
The property is valued in accordance with the company's accounting policy.
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Accrued income and prepayments
1,523
1,382
7
Creditors: amounts falling due within one year
2025
2024
£
£
Taxes and social security
2,422
2,449
Loans from directors
456,404
445,792
Accruals
1,000
1,000
Deferred income
11,840
11,486
471,666
460,727
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).
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