ACCOUNTS - Final Accounts

ADBM PROPERTIES LIMITED - Company Information

Company registration number: 05054266

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 JULY 2021

	ADBM PROPERTIES LIMITED


ADBM PROPERTIES LIMITED

COMPANY INFORMATION

Directors	A D Pope
	B M Pope


Registered number	05054266


Registered office	Centrum House
	36 Station Road
	Egham
	Surrey
	TW20 9LF


Accountants	Menzies LLP
	Chartered Accountants
	Centrum House
	36 Station Road
	Egham
	Surrey
	TW20 9LF


ADBM PROPERTIES LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 3


ADBM PROPERTIES LIMITED REGISTERED NUMBER:05054266

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2021

		2021		2020
Note		£		£

Fixed assets
Investment property	4		750,000		750,000
			750,000		750,000
Current assets
Debtors: amounts falling due within one year	5	2,318		4,618
Cash at bank and in hand		823,155		886,670
		825,473		891,288
Creditors: amounts falling due within one year	6	(171,501)		(170,855)
Net current assets			653,972		720,433
Total assets less current liabilities			1,403,972		1,470,433

Net assets			1,403,972		1,470,433

Capital and reserves
Called up share capital	2,002	2,002
Profit and loss account	1,401,970	1,468,431
	1,403,972	1,470,433

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A D Pope

Director

Date: 7 March 2022

The notes on pages 2 to 3 form part of these financial statements.

Page 1


ADBM PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

1.	General information

ADBM Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is given in the company information page of these financial statements. Due to the nature of the company there is no trading address.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Rental income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Rental income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.5

Investment property

Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 2


ADBM PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 August 2020	750,000
	At 31 July 2021	750,000

The 2021 valuation was made by the directors, on an open market value for existing use basis.


	At 31 July 2021

Debtors

					2021	2020
					£	£


Trade debtors	2,318	2,151
Prepayments and accrued income	-	2,467
	2,318	4,618

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	1,301	13,382
Other creditors	165,136	153,028
Accruals and deferred income	5,064	4,445
	171,501	170,855

Page 3