REGISTERED NUMBER: 04591799 (England and Wales)

President Properties Limited

Abridged Unaudited Financial Statements

for the Year Ended 30 September 2024

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr C Salp

Miss Y N Salp

REGISTERED OFFICE:

35 Cheston Avenue

Shirley

Croydon

Surrey

CR0 8DE

REGISTERED NUMBER:

04591799 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of President Properties Limited for the year ended 30 September 2024 which comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

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

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

3 August 2026

FIXED ASSETS

Investment property

5

462,500

-

CURRENT ASSETS

Debtors

6

4,171

48,955

Cash at bank

14,167

59,797

18,338

108,752

CREDITORS

Amounts falling due within one year

7

215,486

145,249

NET CURRENT LIABILITIES

(197,148

)

(36,497

)

TOTAL ASSETS LESS CURRENT LIABILITIES

265,352

(36,497

)

CREDITORS

Amounts falling due after more than one year

8

(291,147

)

-

PROVISIONS FOR LIABILITIES

9

(4,099

)

-

NET LIABILITIES

(29,894

)

(36,497

)

CAPITAL AND RESERVES

Called up share capital

10

50,000

50,000

Fair value reserve

11

17,476

-

Retained earnings

11

(97,370

)

(86,497

)

SHAREHOLDERS' FUNDS

(29,894

)

(36,497

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

Mr C Salp - Director

Miss Y N Salp - Director

1.	STATUTORY INFORMATION

President Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. There are no significant items in the financial statements where these judgements and estimates have been made.

Tangible fixed assets

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

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

440,925

Revaluations

21,575

At 30 September 2024

462,500

NET BOOK VALUE

At 30 September 2024

462,500

Fair value at 30 September 2024 is represented by:

£

Valuation in 2024

462,500

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

440,925

-

Investment properties was valued on fair value basis on 12 April 2024 by Red Book Valuation .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,867

48,741

Other debtors

304

214

4,171

48,955

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other creditors

215,486

145,249

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

291,147

-

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

291,147

-

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

4,099

-

Deferred

tax

£

Provided during year

4,099

Balance at 30 September 2024

4,099

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

50,000

Ordinary

£1

50,000

50,000

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 October 2023

(86,497

)

-

(86,497

)

Profit for the year

6,603

6,603

Fair value adjustment

(17,476

)

17,476

-

At 30 September 2024

(97,370

)

17,476

(79,894

)

12.	RELATED PARTY DISCLOSURES

Included in creditors is an amount owed to key management personnel at balance sheet date of £212,136 (2023 : £144,699). This is an interest free loan and has no fixed repayment terms.