Company No: 00832468 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr J R C Arkwright
	Mrs T A Clarke
	Mrs A R Eyston
	Miss G A Winfrey
	Miss H E Winfrey
	Mr T F A Winfrey

REGISTERED OFFICE	The View
	Diptford
	Totnes
	TQ9 7LX
	United Kingdom

COMPANY NUMBER

00832468 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Centenary House
	Peninsula Park
	Rydon Lane
	Exeter
	Devon EX2 7XE

	Note	2023		2022
		£		£
Fixed assets
Investment property	3	515,000		515,000
		515,000		515,000
Current assets
Debtors	4	6,413		11,530
Cash at bank and in hand		33,203		30,786
		39,616		42,316
Creditors: amounts falling due within one year	5	( 23,993)		( 28,040)
Net current assets		15,623		14,276
Total assets less current liabilities		530,623		529,276
Net assets		530,623		529,276
Capital and reserves
Called-up share capital	6	8,000		8,000
Capital redemption reserve		2,000		2,000
Profit and loss account	7	520,623		519,276
Total shareholders' funds		530,623		529,276

For the financial year ending 29 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Aberford Properties Limited (registered number: 00832468) were approved and authorised for issue by the Board of Directors on 12 October 2023. They were signed on its behalf by:

Mr T F A Winfrey Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Aberford Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 115 Mount Street, London, W1K 3NQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable on the rental of properties and in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Leasing incentives

The company may provide incentives to enter into new lease agreements. These incentives may take the form of an initial rent free or reduced rent period. In accordance with the accounting treatment for lease incentives, the rent free or reduced rent period is allocated on a straight line basis over the full lease term or where a lease commenced prior to the date of transition to Section 1A of FRS 102, up to the rent review date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No depreciation is provided in respect of the investments properties applying the fair value model. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Investment property

	Investment property
	£
Valuation
As at 30 March 2022	515,000
As at 29 March 2023	515,000

Valuation

A full market valuation of investment property was completed at 29 March 2020. There has been no valuation of investment property by an independent valuer during the current year. The Directors have concluded that the values should remain the same as the year in which the independent valuation was carried out.

Historic cost

If the investment properties had been accounted for under cost accounting rules, the properties would have been measured as follows:

	2023		2022
	£		£
Historic cost	813,370		813,370

4. Debtors

	2023		2022
	£		£
Trade debtors	6,413		11,530

5. Creditors: amounts falling due within one year

	2023		2022
	£		£
Amounts owed to connected companies	18		1,901
Accruals and deferred income	16,434		17,056
Corporation tax	6,200		6,200
Other taxation and social security	1,341		2,883
	23,993		28,040

6. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
8,000 Ordinary shares of £ 1.00 each	8,000		8,000

7. Reserves

Non Distributable Reserves

	2023		2022
	£		£
Unrealised loss	(298,370)		(298,370)
Less: Deferred tax	74,592		56,690
	(223,778)		(241,680)