COMPANY REGISTRATION NUMBER:
14988085
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 July 2024
FIXED ASSETS
CURRENT ASSETS
Debtors |
6 |
908 |
|
Cash at bank and in hand |
13,141 |
|
|
-------- |
|
|
14,049 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
908,916 |
|
|
--------- |
|
NET CURRENT LIABILITIES |
|
894,867 |
|
|
--------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
(
28,100) |
|
|
-------- |
NET LIABILITIES |
|
(
28,100) |
|
|
-------- |
|
|
|
|
CAPITAL AND RESERVES
Called up share capital fully paid |
|
1 |
Profit and loss account |
|
(
28,101) |
|
|
-------- |
SHAREHOLDERS DEFICIT |
|
(
28,100) |
|
|
-------- |
|
|
|
These 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 statement of comprehensive income has not been delivered.
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 July 2024
These financial statements were approved by the
board of directors
and authorised for issue on
2 October 2024
, and are signed on behalf of the board by:
Mr S P Vernaschi |
Director |
|
Company registration number:
14988085
NOTES TO THE FINANCIAL STATEMENTS |
|
PERIOD FROM 7 JULY 2023 TO 31 JULY 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 20 Dymock Street, Flat B, London, SW6 3HA.
2.
STATEMENT OF COMPLIANCE
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the directors. On this basis, the directors considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Revenue recognition
Turnover represents the amount derived from rents receivable.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to
2
.
5.
INVESTMENTS
|
Other investments other than loans |
|
£ |
Cost |
|
At 7 July 2023 |
– |
Additions |
866,767 |
|
--------- |
At 31 July 2024 |
866,767 |
|
--------- |
Impairment |
|
At 7 July 2023 and 31 July 2024 |
– |
|
--------- |
|
|
Carrying amount |
|
At 31 July 2024 |
866,767 |
|
--------- |
|
|
6.
DEBTORS
|
31 Jul 24 |
|
£ |
Other debtors |
908 |
|
---- |
|
|
7.
CREDITORS:
amounts falling due within one year
|
31 Jul 24 |
|
£ |
Other creditors |
908,916 |
|
--------- |
|
|
8.
RELATED PARTY TRANSACTIONS
During the period the company undertook the following transactions with related parties: The directors have advanced monies to the company. At 31 July 2024 the amount due from the company was £907,326.
9.
GOING CONCERN
The directors have considered the period to October 2025 when assessing the company's ability to continue as a going concern. It is believed that the company will be able to satisfy its liabilities as these become payable.