COMPANY REGISTRATION NUMBER:
13834142
Filleted Unaudited Abridged Financial Statements |
|
Abridged Statement of Financial Position |
|
31 March 2024
|
31 Mar 24 |
31 Jan 23 |
Note |
£ |
£ |
£ |
|
|
|
|
Fixed assets
Investments |
4 |
|
5,356,950 |
2,095,902 |
|
|
|
|
|
Current assets
Debtors |
203,000 |
|
– |
Cash at bank and in hand |
37,493 |
|
1,903,904 |
|
--------- |
|
------------ |
|
240,493 |
|
1,903,904 |
|
|
|
|
Creditors: amounts falling due within one year |
906,248 |
|
900 |
|
--------- |
|
------------ |
Net current (liabilities)/assets |
|
(
665,755) |
1,903,004 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
4,691,195 |
3,998,906 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
4,625,000 |
4,000,000 |
|
|
------------ |
------------ |
Net assets/(liabilities) |
|
66,195 |
(
1,094) |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
66,194 |
(
1,095) |
|
|
-------- |
------- |
Shareholders funds/(deficit) |
|
66,195 |
(
1,094) |
|
|
-------- |
------- |
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
31 March 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
4 October 2024
, and are signed on behalf of the board by:
Company registration number:
13834142
Notes to the Abridged Financial Statements |
|
Period from 1 February 2023 to 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 57a Broadway, Leigh On Sea, Essex, SS9 1PE.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Investments
|
£ |
Cost |
|
At 1 February 2023 |
2,095,902 |
Additions |
3,261,048 |
|
------------ |
At 31 March 2024 |
5,356,950 |
|
------------ |
Impairment |
|
At 1 February 2023 and 31 March 2024 |
– |
|
------------ |
Carrying amount |
|
At 31 March 2024 |
5,356,950 |
|
------------ |
At 31 January 2023 |
2,095,902 |
|
------------ |
|
|