REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 OCTOBER 2021 TO 31 OCTOBER 2022 |
FOR |
COLLEGE RD LTD |
REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 OCTOBER 2021 TO 31 OCTOBER 2022 |
FOR |
COLLEGE RD LTD |
COLLEGE RD LTD (REGISTERED NUMBER: 13685308) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 18 OCTOBER 2021 TO 31 OCTOBER 2022 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Statement of Financial Position | 5 |
Notes to the Financial Statements | 6 |
COLLEGE RD LTD |
COMPANY INFORMATION |
For The Period 18 OCTOBER 2021 TO 31 OCTOBER 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
COLLEGE RD LTD (REGISTERED NUMBER: 13685308) |
REPORT OF THE DIRECTOR |
For The Period 18 OCTOBER 2021 TO 31 OCTOBER 2022 |
The director presents his report with the financial statements of the company for the period 18 October 2021 to 31 October 2022. |
INCORPORATION |
The company was incorporated on 18 October 2021 and commenced trading on the same date. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the period under review was that of property investment and letting. |
DIRECTOR |
The director, being eligible, offers himself for election at the forthcoming first Annual General Meeting. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
COLLEGE RD LTD |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of College Rd Ltd for the period ended 31 October 2022 which comprise the Income Statement, Statement of Financial Position 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 director of College Rd Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of College Rd Ltd and state those matters that we have agreed to state to the director of College Rd Ltd 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 College Rd Ltd and its director for our work or for this report. |
It is your duty to ensure that College Rd Ltd 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 College Rd Ltd. You consider that College Rd Ltd is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of College Rd Ltd. 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. |
Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
COLLEGE RD LTD (REGISTERED NUMBER: 13685308) |
INCOME STATEMENT |
For The Period 18 OCTOBER 2021 TO 31 OCTOBER 2022 |
£ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL PERIOD |
COLLEGE RD LTD (REGISTERED NUMBER: 13685308) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his 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 were approved by the director and authorised for issue on |
COLLEGE RD LTD (REGISTERED NUMBER: 13685308) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 18 OCTOBER 2021 TO 31 OCTOBER 2022 |
1. | STATUTORY INFORMATION |
College Rd Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. |
There are significant judgements and estimates involved in the preparation of the financial statements. |
Revenue |
Revenue represents the value of rental income chargeable in respect of the company's investment property. |
Revenue is recognised evenly over the period of the rental agreement. |
Investment property |
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. |
Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date. |
Taxation |
Taxation for the period 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 period 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. |
COLLEGE RD LTD (REGISTERED NUMBER: 13685308) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 18 OCTOBER 2021 TO 31 OCTOBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalent |
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
If Investment property had not been revalued it would have been included at the following historical cost: |
2022 |
£ |
Cost | 960,000 |
Investment property was valued on an open market basis on 31 October 2022 by the director of the company. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
COLLEGE RD LTD (REGISTERED NUMBER: 13685308) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 18 OCTOBER 2021 TO 31 OCTOBER 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
£ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans | 725,050 |
Bank loan is secured by way of fixed charge on the investment property of the company and contains a negative pledge. |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |