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REGISTERED NUMBER: 12254891 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CHARLOTTE STREET 2 LIMITED

CHARLOTTE STREET 2 LIMITED (REGISTERED NUMBER: 12254891)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


CHARLOTTE STREET 2 LIMITED (REGISTERED NUMBER: 12254891)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 660,001 1
Investment property 5 3,174,176 2,949,696
3,834,177 2,949,697

CURRENT ASSETS
Debtors 6 299,529 42,943
Cash at bank and in hand 40,389 50,169
339,918 93,112
CREDITORS
Amounts falling due within one year 7 142,383 42,502
NET CURRENT ASSETS 197,535 50,610
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,031,712

3,000,307

CREDITORS
Amounts falling due after more than one
year

8

4,124,905

3,064,905
NET LIABILITIES (93,193 ) (64,598 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (93,194 ) (64,599 )
(93,193 ) (64,598 )

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

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

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 22 July 2024 and were signed by:





Miss K K Teofilak - Director


CHARLOTTE STREET 2 LIMITED (REGISTERED NUMBER: 12254891)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2023

1. STATUTORY INFORMATION

Charlotte Street 2 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12254891

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

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

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

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 statement of financial position date.


CHARLOTTE STREET 2 LIMITED (REGISTERED NUMBER: 12254891)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible reference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 November 2022 1
Additions 660,000
At 31 October 2023 660,001
NET BOOK VALUE
At 31 October 2023 660,001
At 31 October 2022 1

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 2,949,696
Additions 224,480
At 31 October 2023 3,174,176
NET BOOK VALUE
At 31 October 2023 3,174,176
At 31 October 2022 2,949,696

The director considers the market value of the properties as at year-end to be as stated in the financial statements.

CHARLOTTE STREET 2 LIMITED (REGISTERED NUMBER: 12254891)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 272,136 -
Other debtors 27,393 42,943
299,529 42,943

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 136,961 36,351
Other creditors 5,422 6,151
142,383 42,502

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 4,124,905 3,064,905

9. RELATED PARTY DISCLOSURES

Included in the other creditors more than one year is an amount of £746,956 (2022: £746,956) due to the director of the company. Also included is an amount of £Nil (2022: £1,570,993) due to the shareholders of the company.The loans were interest free.