Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31falseproperty investmenttrue2023-02-01false55The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03907036 2023-02-01 2024-01-31 03907036 2022-02-01 2023-01-31 03907036 2024-01-31 03907036 2023-01-31 03907036 c:Director1 2023-02-01 2024-01-31 03907036 c:Director2 2023-02-01 2024-01-31 03907036 c:Director3 2023-02-01 2024-01-31 03907036 c:Director4 2023-02-01 2024-01-31 03907036 c:Director5 2023-02-01 2024-01-31 03907036 c:RegisteredOffice 2023-02-01 2024-01-31 03907036 d:PlantMachinery 2023-02-01 2024-01-31 03907036 d:PlantMachinery 2024-01-31 03907036 d:PlantMachinery 2023-01-31 03907036 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03907036 d:MotorVehicles 2023-02-01 2024-01-31 03907036 d:MotorVehicles 2024-01-31 03907036 d:MotorVehicles 2023-01-31 03907036 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03907036 d:ComputerEquipment 2023-02-01 2024-01-31 03907036 d:ComputerEquipment 2024-01-31 03907036 d:ComputerEquipment 2023-01-31 03907036 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03907036 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03907036 d:LeaseholdInvestmentProperty 2024-01-31 03907036 d:LeaseholdInvestmentProperty 2023-01-31 03907036 d:CurrentFinancialInstruments 2024-01-31 03907036 d:CurrentFinancialInstruments 2023-01-31 03907036 d:Non-currentFinancialInstruments 2024-01-31 03907036 d:Non-currentFinancialInstruments 2023-01-31 03907036 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 03907036 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03907036 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 03907036 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 03907036 d:ShareCapital 2024-01-31 03907036 d:ShareCapital 2023-01-31 03907036 d:RevaluationReserve 2024-01-31 03907036 d:RevaluationReserve 2023-01-31 03907036 d:RetainedEarningsAccumulatedLosses 2024-01-31 03907036 d:RetainedEarningsAccumulatedLosses 2023-01-31 03907036 c:FRS102 2023-02-01 2024-01-31 03907036 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 03907036 c:FullAccounts 2023-02-01 2024-01-31 03907036 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03907036 2 2023-02-01 2024-01-31 03907036 e:PoundSterling 2023-02-01 2024-01-31 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 2024

 
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 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,336
31,309

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

  
12,831,335
12,838,308

Current assets
  

Debtors: amounts falling due within one year
 6 
71,167
36,154

Bank and cash balances
  
720,583
623,476

  
791,750
659,630

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(687,551)
(981,578)

Net current assets/(liabilities)
  
 
 
104,199
 
 
(321,948)

Total assets less current liabilities
  
12,935,534
12,516,360

Creditors: amounts falling due after more than one year
 8 
(448,611)
(481,944)

Provisions for liabilities
  

Deferred tax
  
(1,346,541)
(1,023,418)

  
 
 
(1,346,541)
 
 
(1,023,418)

Net assets
  
11,140,382
11,010,998


Capital and reserves
  

Called up share capital 
  
96
96

Revaluation reserve
  
5,682,813
6,005,936

Profit and loss account
  
5,457,473
5,004,966

  
11,140,382
11,010,998


Page 1

 
138 KINGSLAND ROAD LIMITED
REGISTERED NUMBER:03907036
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

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 by: 




P D Collins
Director

Date: 23 July 2024

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 2024

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 principal activity of the company continued to be that of property investment.
The financial statements are prepared in sterling, which is the functional currency of the company. 

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

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.

 
2.4

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.

Page 3

 
138 KINGSLAND ROAD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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%
Fully depreciated
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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 4

 
138 KINGSLAND ROAD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 5

 
138 KINGSLAND ROAD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost 


At 1 February 2023
8,348
29,970
12,673
50,991


Additions
-
-
991
991



At 31 January 2024

8,348
29,970
13,664
51,982



Depreciation


At 1 February 2023
8,328
1,334
10,018
19,680


Charge for the year on owned assets
20
7,159
787
7,966



At 31 January 2024

8,348
8,493
10,805
27,646



Net book value



At 31 January 2024
-
21,477
2,859
24,336



At 31 January 2023
19
28,636
2,654
31,309

Page 6

 
138 KINGSLAND ROAD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Investment property


Investment property

£



Valuation


At 1 February 2023
12,806,999



At 31 January 2024
12,806,999

 Investment property was valued at 31 January 2024 by the directors on fair value basis




6.


Debtors

2024
2023
£
£


Trade debtors
64,994
15,794

Other debtors
5,100
5,816

Prepayments and accrued income
1,073
14,544

71,167
36,154



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
127,857

Trade creditors
4,602
1,728

Amounts owed to related parties
244,284
444,284

Corporation tax
124,302
90,811

Other taxation and social security
21,295
20,060

Other creditors
152,168
153,985

Accruals and deferred income
140,900
142,853

687,551
981,578


Page 7

 
138 KINGSLAND ROAD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
448,611
481,944



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