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REGISTERED NUMBER: 09423910 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

11 WELLINGTON ROAD LTD

11 WELLINGTON ROAD LTD (REGISTERED NUMBER: 09423910)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


11 WELLINGTON ROAD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs S H Shah
Mrs K V Bhudia





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 09423910 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

11 WELLINGTON ROAD LTD (REGISTERED NUMBER: 09423910)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 5,605 7,473
Investment property 6 6,042,997 895,097
6,048,602 902,570

CURRENT ASSETS
Debtors 7 78,329 43,597
Cash at bank 226,267 17,003
304,596 60,600
CREDITORS
Amounts falling due within one year 8 474,223 313,231
NET CURRENT LIABILITIES (169,627 ) (252,631 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,878,975

649,939

CREDITORS
Amounts falling due after more than one
year

9

2,424,489

688,643
NET ASSETS/(LIABILITIES) 3,454,486 (38,704 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Share premium 13 3,462,000 -
Retained earnings 13 (7,614 ) (38,804 )
SHAREHOLDERS' FUNDS 3,454,486 (38,704 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

11 WELLINGTON ROAD LTD (REGISTERED NUMBER: 09423910)

BALANCE SHEET - continued
31 MARCH 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 19 December 2023 and were signed on its behalf by:





Mrs S H Shah - Director


11 WELLINGTON ROAD LTD (REGISTERED NUMBER: 09423910)

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


1. STATUTORY INFORMATION

11 Wellington Road Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS105, the date of transition to FRS 102 Section 1A is 1 April 2021.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Revenue recognition
Revenue from residential property is recognised on a rent receivable basis to the balance sheet date.

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

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.

11 WELLINGTON ROAD LTD (REGISTERED NUMBER: 09423910)

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


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2022
and 31 March 2023 31,491
DEPRECIATION
At 1 April 2022 24,018
Charge for year 1,868
At 31 March 2023 25,886
NET BOOK VALUE
At 31 March 2023 5,605
At 31 March 2022 7,473

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2022 895,097
Additions 5,147,900
At 31 March 2023 6,042,997
NET BOOK VALUE
At 31 March 2023 6,042,997
At 31 March 2022 895,097

In the opinion of the director, the fair value of the investment property as at 31 March 2023 is not significantly different to that stated above.

Fair value at 31 March 2023 is represented by:
£
Valuation in 2022 6,042,997

11 WELLINGTON ROAD LTD (REGISTERED NUMBER: 09423910)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£ £
Trade debtors 1,068 7
Amounts owed by group undertakings 27,000 42,000
Prepayments and accrued income 645 -
Prepayments 49,616 1,590
78,329 43,597

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£ £
Bank loans and overdrafts (see note 10) 9,733 9,493
Amounts owed to group undertakings 80,000 80,000
Tax 7,514 1,813
Other creditors 5,748 829
Directors' current accounts 359,467 218,764
Accrued expenses 11,761 2,332
474,223 313,231

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£ £
Bank loans (see note 10) 2,424,489 688,643

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,401,680 656,102

10. LOANS

An analysis of the maturity of loans is given below:

31/3/23 31/3/22
£ £
Amounts falling due within one year or on demand:
Bank loans 9,733 9,493

Amounts falling due between two and five years:
Bank loans - 2-5 years 22,809 32,541

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,401,680 656,102

11 WELLINGTON ROAD LTD (REGISTERED NUMBER: 09423910)

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


10. LOANS - continued

The bank loans are secured by a legal charge over the investment properties and by way of personal guarantees of the directors. The loans are interest only, fully repayable between 10 to 25 years period and the rate of interest charged is ranging between 2.5% to 8%.

Business Bounce Back loan of £32,541 (2022 - £42,034) is also included in the creditors. The loan is repayable in 6 years with the rate of interest fixed at 2.50% per annum starting 13 months after the first drawdown. Interest due for the first 12 months is paid by the UK government as grant also known as business interruption payment.

11. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£ £
Bank loans 2,434,222 698,136

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £ £
100 Ordinary 1 100 100

100 Ordinary shares of 1 each were allotted as fully paid at a premium of 34620 per share during the year.

13. RESERVES
Retained Share
earnings premium Totals
£ £ £

At 1 April 2022 (38,804 ) - (38,804 )
Profit for the year 31,190 31,190
Cash share issue - 3,462,000 3,462,000
At 31 March 2023 (7,614 ) 3,462,000 3,454,386

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year ended 31 March 2023, £359,467 (2022: £218,764) was due to the director of the company.

15. RELATED PARTY DISCLOSURES

At the year ended 31 March 2023, £27,000 (2022 - £42,000) was due from Kans Developments Ltd, a company in which the director has beneficial interest.

At the year ended 31 March 2023, £80,000 (2022 - £80,000) was due to SHS Pharma Ltd, a company in which the director has beneficial interest.

16. ULTIMATE CONTROLLING PARTY

The director and his family are the ultimate controlling party by virtue of their shareholding in the company.