Abbeybeck Estates Ltd - Accounts to registrar (filleted) - small 23.2.5

Abbeybeck Estates Ltd - Accounts to registrar (filleted) - small 23.2.5

ABBEYBECK ESTATES LTD - Company Information

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REGISTERED NUMBER: 04374459 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

ABBEYBECK ESTATES LTD
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ABBEYBECK ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: S K Pala
V Pala





REGISTERED OFFICE: 7 St John's Road
Harrow
Middlesex
HA1 2EY





REGISTERED NUMBER: 04374459 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY
Page 1
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 6,935,646 4,934,133

CURRENT ASSETS
Debtors 5 9,276 6,767
Cash at bank 34,137 141,805
43,413 148,572
CREDITORS
Amounts falling due within one year 6 489,063 431,372
NET CURRENT LIABILITIES (445,650 ) (282,800 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
6,489,996
4,651,333

CREDITORS
Amounts falling due after more than one year 7 5,092,646 3,440,159
NET ASSETS 1,397,350 1,211,174

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 1,297,350 1,111,174
SHAREHOLDERS' FUNDS 1,397,350 1,211,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

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 10 June 2024 and were signed on its behalf by:





S K Pala - Director


The notes form part of these financial statements

Page 2
ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Abbeybeck Estates Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis not withstanding the company's net current liabilities position as at the year end. The directors of the company and the connected companies have provided with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements.

Turnover
Turnover represents the total invoice value, excluding value added tax, of rent receivable for the year and expenses recharged to the tenants.

Investment property
Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit or loss account.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

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ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 October 2022 4,934,133
Additions 2,001,513
At 30 September 2023 6,935,646
NET BOOK VALUE
At 30 September 2023 6,935,646
At 30 September 2022 4,934,133

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 5,596 5,443
Other debtors 3,680 1,324
9,276 6,767

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 139,022 188,721
Trade creditors - 2,613
Taxation and social security 72,767 37,394
Other creditors 277,274 202,644
489,063 431,372

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans 1,187,646 1,940,159
Amounts owed to connected companies 2,905,000 500,000
Other creditors 1,000,000 1,000,000
5,092,646 3,440,159

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 1,326,668 2,128,880

The bank loan from Lloyds Bank Plc is secured by way of a first legal charge over the assets of the company.

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ABBEYBECK ESTATES LTD (REGISTERED NUMBER: 04374459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9. RELATED PARTY DISCLOSURES

Included within creditors due within one year as at year end is an amount of £1,192,450 (2022: £1,166,942) due to Mr S Pala, director of the company. The amount is unsecured and there are no specific terms of repayment.

During the year, company has received management fees of £7,200 from Satyan Jewellers Limited.

Included within creditors falling due after more than one year are amounts £670,000 (2022:£Nil) and £2,235,000 (2022: £500,000) due to Sona Enterprises Limited and Satyan Jewellers Limited respectively. The amounts owed are unsecured and there are no specific terms of repayment. Abbeybeck Estates Limited, Satyan Jewellers Limited and Sona Enterprises Limited are related by virtue of having common director and shareholder.

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