50 Stockbridge Road Limited 09962798 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the development of residential property held for rental. Digita Accounts Production Advanced 6.30.9574.0 true true true 09962798 2022-04-01 2023-03-31 09962798 2023-03-31 09962798 core:RetainedEarningsAccumulatedLosses 2023-03-31 09962798 core:ShareCapital 2023-03-31 09962798 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09962798 bus:SmallEntities 2022-04-01 2023-03-31 09962798 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09962798 bus:FullAccounts 2022-04-01 2023-03-31 09962798 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09962798 bus:RegisteredOffice 2022-04-01 2023-03-31 09962798 bus:Director2 2022-04-01 2023-03-31 09962798 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09962798 core:OtherRelatedParties 2022-04-01 2023-03-31 09962798 1 2022-04-01 2023-03-31 09962798 countries:AllCountries 2022-04-01 2023-03-31 09962798 2022-03-31 09962798 2021-04-01 2022-03-31 09962798 2022-03-31 09962798 core:RetainedEarningsAccumulatedLosses 2022-03-31 09962798 core:ShareCapital 2022-03-31 09962798 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 09962798

50 Stockbridge Road Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

50 Stockbridge Road Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

50 Stockbridge Road Limited

(Registration number: 09962798)
Abridged Balance Sheet as at 31 March 2023

2023
£

2022
£

Fixed assets

Investment property

750,000

750,000

Current assets

Debtors

1,774

3,413

Cash at bank and in hand

10,933

8,294

12,707

11,707

Creditors: Amounts falling due within one year

(770,113)

(759,139)

Net current liabilities

(757,406)

(747,432)

Net (liabilities)/assets

(7,406)

2,568

Capital and reserves

Called up share capital

1

1

Profit and loss account

(7,407)

2,567

Total equity

(7,406)

2,568

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

O S Mitchell

Director

 

50 Stockbridge Road Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Old Dairy
Ovington
Alresford
Hampshire
SO24 0RB

These financial statements were authorised for issue by the Board on 31 October 2023.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. Of the company's liabilities at the year end an amount is owed to connected companies, the directors of which have agreed not to demand repayment of this amount for at least one year after the date of the approval of these accounts to the extent that any such repayment would jeopardise the future of the company. The parent company and directors have agreed that they will continue to provide financial support for at least 12 months from the date of approval of these accounts.

Revenue recognition

Turnover comprises the fair value of the rental income received or receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

50 Stockbridge Road Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Investment properties

2023
£

At 1 April

750,000

The properties have been revalued by a director at Open Market Value.

There has been no valuation of investment property by an independent valuer.

5

Related party transactions

Summary of transactions with other related parties

Included within other creditors is a loan from Ovington Park Properties 2013 Ltd, a company connected by common control. At the balance sheet date, the company owed Ovington Park Properties 2013 Ltd £741,838 (2022: £729,640).

A charge dated 23 February 2016 is held by Svenska Handelsbanken AB over the property and assets of 50 Stockbridge Road Ltd up to the value of £716,000, in respect of the loan held by Ovington Park Properties 2013 Ltd.

 

6

Parent and ultimate parent undertaking

The company's immediate parent is Ovington Park Estates Ltd , incorporated in England & Wales.