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REGISTERED NUMBER: 11345948 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

55 CAUSEWAY ROAD LIMITED

55 CAUSEWAY ROAD LIMITED (REGISTERED NUMBER: 11345948)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


55 CAUSEWAY ROAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Miss S A Hughes





REGISTERED OFFICE: 2 Fleming Road
Earlstrees Ind Est
Corby
Northamptonshire
NN17 4SW





REGISTERED NUMBER: 11345948 (England and Wales)





ACCOUNTANTS: TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

55 CAUSEWAY ROAD LIMITED (REGISTERED NUMBER: 11345948)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,220,000 1,000,000

CURRENT ASSETS
Stocks 187,507 -
Debtors 5 17,817 1
Cash at bank 18,035 26,454
223,359 26,455
CREDITORS
Amounts falling due within one year 6 34,675 28,793
NET CURRENT ASSETS/(LIABILITIES) 188,684 (2,338 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,408,684 997,662

CREDITORS
Amounts falling due after more than
one year

7

930,000

736,293
NET ASSETS 478,684 261,369

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 520,000 300,000
Retained earnings (41,317 ) (38,632 )
478,684 261,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

55 CAUSEWAY ROAD LIMITED (REGISTERED NUMBER: 11345948)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 20 November 2023 and were signed by:





Miss S A Hughes - Director


55 CAUSEWAY ROAD LIMITED (REGISTERED NUMBER: 11345948)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

55 Causeway Road Limited 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.

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.

Going concern
The financial statements have been prepared on a going concern basis. The director is of the opinion that the company will have access to sufficient funds to enable it to trade for at least one year from the signing of the balance sheet.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 1 (2022 - 1 ) .

55 CAUSEWAY ROAD LIMITED (REGISTERED NUMBER: 11345948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,000,000
Revaluations 220,000
At 31 May 2023 1,220,000
NET BOOK VALUE
At 31 May 2023 1,220,000
At 31 May 2022 1,000,000

At the year end the investment property was revalued by the director based upon her knowledge of local market conditions and the condition of the property. In her opinion the value included within the financial statements is a fair value.

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2022 300,000
Valuation in 2023 220,000
Cost 700,000
1,220,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,160 -
Other debtors 1,657 1
17,817 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loan - 27,271
Trade creditors 423 72
Taxation and social security 3,003 -
Other creditors 31,249 1,450
34,675 28,793

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 612,000 279,993
Other creditors 318,000 456,300
930,000 736,293

The other creditors have undertaken not to demand repayment for at least one year from the date of signing these accounts.

55 CAUSEWAY ROAD LIMITED (REGISTERED NUMBER: 11345948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 612,000 307,264
Other creditors - 304,000
612,000 611,264

The creditors hold a fixed and floating charge over the company's assets.

9. RESERVES
Revaluation
reserve
£   
At 1 June 2022 300,000
Property revaluation 220,000

At 31 May 2023 520,000

10. RELATED PARTY DISCLOSURES

During the year the company received rents of £64,187 (2022 £70,788) from a connected company.

During the year the company purchased services of £183,364 (2022 £38,000) from a connected company. At the balance sheet date the company owed £Nil (2022 £118,300).