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REGISTERED NUMBER: 08711902


















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Canary Wharf Lettings Limited

Canary Wharf Lettings Limited (Registered number: 08711902)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Canary Wharf Lettings Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mrs H W Diffey
N Diffey





REGISTERED OFFICE: 16 Beaufort Court
Admirals Way
Docklands
London
E14 9XL





REGISTERED NUMBER: 08711902





ACCOUNTANTS: RBS Accountants Limited
16 Beaufort Court
Admirals Way
London
Docklands
London
E14 9XL

Canary Wharf Lettings Limited (Registered number: 08711902)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 727 1,090
Investments 5 211,653 130,081
Investment property 6 1,861,578 1,917,578
2,073,958 2,048,749

CURRENT ASSETS
Debtors 7 11,337 15,711
Cash at bank 204,178 245,251
215,515 260,962
CREDITORS
Amounts falling due within one year 8 428 16,598
NET CURRENT ASSETS 215,087 244,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,289,045

2,293,113

CREDITORS
Amounts falling due after more than one
year

9

(2,008,055

)

(2,008,054

)

PROVISIONS FOR LIABILITIES 11 (41,644 ) (42,670 )
NET ASSETS 239,346 242,389

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 259,716 248,714
Retained earnings (20,470 ) (6,425 )
SHAREHOLDERS' FUNDS 239,346 242,389

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.

Canary Wharf Lettings Limited (Registered number: 08711902)

Balance Sheet - continued
30 September 2023


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 18 October 2023 and were signed on its behalf by:





Mrs H W Diffey - Director


Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

There are three charges by Axis Bank Uk Limited which are as follows:

Charge code 0871 1902 0007
Charge code 0871 1902 0006
Charge code 0871 1902 0005

2. ACCOUNTING POLICIES

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Other operating income
Other operating income relates to rental income from the freehold property owned by the company.

Rental income is recognised in the period the rent is due.

Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 4,569 1,454 6,023
DEPRECIATION
At 1 October 2022 4,569 364 4,933
Charge for year - 363 363
At 30 September 2023 4,569 727 5,296
NET BOOK VALUE
At 30 September 2023 - 727 727
At 30 September 2022 - 1,090 1,090

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2022 130,081
Additions 31,592
Disposals (15,995 )
Revaluations 65,975
At 30 September 2023 211,653
NET BOOK VALUE
At 30 September 2023 211,653
At 30 September 2022 130,081

Cost or valuation at 30 September 2023 is represented by:

Other
investments
£   
Valuation in 2022 (68,616 )
Valuation in 2023 66,791
Cost 213,478
211,653

Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 1,917,578
Revaluations (56,000 )
At 30 September 2023 1,861,578
NET BOOK VALUE
At 30 September 2023 1,861,578
At 30 September 2022 1,917,578

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2014 519,710
Valuation in 2015 1,037,868
Valuation in 2015 195,000
Valuation in 2016 165,000
Valuation in 2023 (56,000 )
1,861,578

If the investment properties had not been revalued they would have been included at the following historical cost:

30.9.23 30.9.22
£    £   
Cost 1,557,578 1,557,578

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors - 3,297
Prepayments 11,337 12,414
11,337 15,711

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors - 1
Other creditors - 16,480
Directors' current accounts 428 117
428 16,598

Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans (see note 10) 1,286,513 1,286,512
Directors' curr accs over 1yr 721,542 721,542
2,008,055 2,008,054

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,286,513 1,286,513

The Previous mortgage from Svenska Handelsbanken has been paid and there has been a new mortgage from Axis Bank Uk Ltd on the 11 January 2019. It is an interest only mortgage.

10. LOANS

An analysis of the maturity of loans is given below:

30.9.23 30.9.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - (1 )

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,286,513 1,286,513

11. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 41,644 42,670

Deferred
tax
£   
Balance at 1 October 2022 42,670
Provided during year (1,026 )
Balance at 30 September 2023 41,644

12. RELATED PARTY DISCLOSURES

Mrs H W Diffey holds more than 75% shares in the company.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs H W Diffey.