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Registered number: 11601990









BLACKWALL PROPERTY (NO.1) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BLACKWALL PROPERTY (NO.1) LIMITED
REGISTERED NUMBER: 11601990

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
651,013
651,013

Current assets
  

Cash at bank and in hand
 5 
5,161
4,879

Creditors: amounts falling due within one year
 6 
(2,002)
(3,789)

Net current assets
  
 
 
3,159
 
 
1,090

Total assets less current liabilities
  
654,172
652,103

Creditors: amounts falling due after more than one year
 7 
(636,400)
(639,400)

  

Net assets
  
17,772
12,703


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
17,771
12,702

  
17,772
12,703


Page 1

 
BLACKWALL PROPERTY (NO.1) LIMITED
REGISTERED NUMBER: 11601990
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income and retained earnings 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 on 18 September 2024.




D J Godden
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
BLACKWALL PROPERTY (NO.1) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Blackwall Property (No.1) Limited (“the Company”) is a company limited by shares, incorporated in England and Wales. Its registered office is 3 Blackwall Trading Estate, Lanrick Road, London, United Kingdom E14 0JP.
The principal activity of the company is that of a property investment 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 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

Revenue

Revenue is measured at the fair value of consideration received or receivable and represents theamount receivable for services rendered, net of returns, discounts and rebates allowed by the Company and value added taxes.
The Company’s source of revenue is from rental income from investment properties. Revenue is recognised in the accounting period in which the services are rendered.

 
2.3

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

 
2.4

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.

 
2.5

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.

Page 3

 
BLACKWALL PROPERTY (NO.1) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

  
2.8

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).






4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
651,013



At 31 December 2023
651,013








Page 4

 
BLACKWALL PROPERTY (NO.1) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,161
4,879



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,100
1,100

Corporation tax
902
2,689

2,002
3,789



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
636,400
639,400



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



9.


Related party transactions

At the year end the company owed its parent undertakings £637,500 (2022 - £640,500).
During the year the company declared dividends of £Nil (2022 - £4,000) to its parent undertaking.


10.


Controlling party

The ultimate parent entity is Lanrick Holdings Limited. The accounts of Lanrick Holdings Limited can be obtained from the Registrar of Companies at Companies House, Crown Way, Cardiff, CF14 3UZ.

 
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