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REGISTERED NUMBER: 09474793 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

11-12 WELLS TERRACE LIMITED

11-12 WELLS TERRACE LIMITED (REGISTERED NUMBER: 09474793)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


11-12 WELLS TERRACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr R G Kilikita





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 09474793 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

11-12 WELLS TERRACE LIMITED (REGISTERED NUMBER: 09474793)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,935,615 3,935,615

CURRENT ASSETS
Debtors 5 37,387 39,379
Cash at bank 347,199 529,840
384,586 569,219
CREDITORS
Amounts falling due within one year 6 2,444,960 1,600,088
NET CURRENT LIABILITIES (2,060,374 ) (1,030,869 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,875,241

2,904,746

CREDITORS
Amounts falling due after more than one
year

7

514,954

1,640,254
NET ASSETS 1,360,287 1,264,492

CAPITAL AND RESERVES
Called up share capital 9 50 50
Share premium 630,803 630,803
Other reserves 50 50
Retained earnings 729,384 633,589
SHAREHOLDERS' FUNDS 1,360,287 1,264,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

11-12 WELLS TERRACE LIMITED (REGISTERED NUMBER: 09474793)

BALANCE SHEET - continued
31 JANUARY 2024


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 29 October 2024 and were signed by:





Mr R G Kilikita - Director


11-12 WELLS TERRACE LIMITED (REGISTERED NUMBER: 09474793)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

11-12 Wells Terrace Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents amounts derived from the provision of services to landlords and customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 3,935,615
NET BOOK VALUE
At 31 January 2024 3,935,615
At 31 January 2023 3,935,615

11-12 WELLS TERRACE LIMITED (REGISTERED NUMBER: 09474793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 24,563 26,763
Other debtors 12,062 12,062
Called up share capital unpaid 50 50
Prepayments and accrued income 712 504
37,387 39,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other loans (see note 8) - 13,666
Trade creditors 8,968 5,523
Amounts owed to group undertakings 282,572 282,572
Amounts owed to joint ventures 1,212,120 866,116
Tax 82,227 78,526
VAT 11,744 12,269
Other creditors 100,901 283,239
Directors' current accounts 700,002 2
Accruals and deferred income 46,426 58,175
2,444,960 1,600,088

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 8) 514,954 1,640,254

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 514,954 1,640,254

8. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Other loans - 13,666

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 514,954 1,640,254

11-12 WELLS TERRACE LIMITED (REGISTERED NUMBER: 09474793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
50 Ordinary shares 1 50 50