Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-3152022-02-01falseproperty investment5truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03907036 2022-02-01 2023-01-31 03907036 2021-02-01 2022-01-31 03907036 2023-01-31 03907036 2022-01-31 03907036 c:Director1 2022-02-01 2023-01-31 03907036 c:Director2 2022-02-01 2023-01-31 03907036 c:Director3 2022-02-01 2023-01-31 03907036 c:Director4 2022-02-01 2023-01-31 03907036 c:Director5 2022-02-01 2023-01-31 03907036 c:RegisteredOffice 2022-02-01 2023-01-31 03907036 d:PlantMachinery 2022-02-01 2023-01-31 03907036 d:PlantMachinery 2023-01-31 03907036 d:PlantMachinery 2022-01-31 03907036 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 03907036 d:MotorVehicles 2022-02-01 2023-01-31 03907036 d:MotorVehicles 2023-01-31 03907036 d:MotorVehicles 2022-01-31 03907036 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 03907036 d:ComputerEquipment 2022-02-01 2023-01-31 03907036 d:ComputerEquipment 2023-01-31 03907036 d:ComputerEquipment 2022-01-31 03907036 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 03907036 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 03907036 d:LeaseholdInvestmentProperty 2023-01-31 03907036 d:LeaseholdInvestmentProperty 2022-01-31 03907036 d:CurrentFinancialInstruments 2023-01-31 03907036 d:CurrentFinancialInstruments 2022-01-31 03907036 d:Non-currentFinancialInstruments 2023-01-31 03907036 d:Non-currentFinancialInstruments 2022-01-31 03907036 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03907036 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 03907036 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 03907036 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 03907036 d:ShareCapital 2023-01-31 03907036 d:ShareCapital 2022-01-31 03907036 d:InvestmentPropertiesRevaluationReserve 2023-01-31 03907036 d:InvestmentPropertiesRevaluationReserve 2022-01-31 03907036 d:RetainedEarningsAccumulatedLosses 2023-01-31 03907036 d:RetainedEarningsAccumulatedLosses 2022-01-31 03907036 c:FRS102 2022-02-01 2023-01-31 03907036 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 03907036 c:FullAccounts 2022-02-01 2023-01-31 03907036 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 03907036 2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 03907036









138 KINGSLAND ROAD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
138 KINGSLAND ROAD LIMITED
 
 
COMPANY INFORMATION


Directors
P D Collins 
M Collins 
E Elias 
G E Heptonstall 
I A Heptonstall 




Registered number
03907036



Registered office
5 Elstree Gate
Elstree Way

Borehamwood

Hertfordshire

WD6 1JD




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
138 KINGSLAND ROAD LIMITED
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 
138 KINGSLAND ROAD LIMITED
REGISTERED NUMBER: 03907036

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
31,310
1,026

Investment property
 5 
12,806,999
12,806,999

  
12,838,309
12,808,025

Current assets
  

Debtors: amounts falling due within one year
 6 
36,153
63,069

Bank and cash balances
  
623,476
621,209

  
659,629
684,278

Creditors: amounts falling due within one year
 7 
(981,578)
(1,258,615)

Net current liabilities
  
 
 
(321,949)
 
 
(574,337)

Total assets less current liabilities
  
12,516,360
12,233,688

Creditors: amounts falling due after more than one year
 8 
(481,944)
(639,577)

Provisions for liabilities
  

Deferred tax
  
(1,023,418)
(1,023,418)

  
 
 
(1,023,418)
 
 
(1,023,418)

Net assets
  
11,010,998
10,570,693


Capital and reserves
  

Called up share capital 
  
96
96

Investment property reserve
  
6,005,936
6,005,936

Profit and loss account
  
5,004,966
4,564,661

  
11,010,998
10,570,693


Page 1

 
138 KINGSLAND ROAD LIMITED
REGISTERED NUMBER: 03907036
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

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 comprehensive income 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 on 27 October 2023.




P D Collins
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
138 KINGSLAND ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

138 Kingsland Road Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. 
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

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

Turnover

Turnover represents the fair value of rents received or receivable, net of value added tax. Rental income is recognised on a straight line basis over the term of the lease. 

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
138 KINGSLAND ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
138 KINGSLAND ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.13

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Page 5

 
138 KINGSLAND ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost 


At 1 February 2022
8,348
-
10,134
18,482


Additions
-
29,970
2,539
32,509



At 31 January 2023

8,348
29,970
12,673
50,991



Depreciation


At 1 February 2022
8,322
-
9,134
17,456


Charge for the year on owned assets
6
1,334
885
2,225



At 31 January 2023

8,328
1,334
10,019
19,681



Net book value



At 31 January 2023
20
28,636
2,654
31,310



At 31 January 2022
26
-
1,000
1,026

Page 6

 
138 KINGSLAND ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Investment property


Investment property

£



Valuation


At 1 February 2022
12,806,999



At 31 January 2023
12,806,999

          The investment property was valued by the Director on 31 January 2023 on fair value basis. 



Page 7

 
138 KINGSLAND ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
15,792
32,861

Other debtors
5,817
14,892

Prepayments and accrued income
14,544
15,316

36,153
63,069



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
127,857
190,100

Trade creditors
1,728
19,151

Amounts owed to related parties
444,284
653,960

Corporation tax
90,811
79,672

Other taxation and social security
20,060
26,777

Other creditors
153,985
144,076

Accruals and deferred income
142,853
144,879

981,578
1,258,615



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
124,299

Accruals and deferred income
481,944
515,278

481,944
639,577



9.


Related party transactions

Amounts due to related companies are advances from entities in which directors have material interest. These amounts are interest free and repayable on demand. 

 
Page 8