Registered number
11147386
(Registered in England & Wales)
354 SPV1 Ltd
Filleted Accounts
31 January 2024
354 SPV1 Ltd
Registered number: 11147386
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,281,304 1,881,304
Current assets
Cash at bank and in hand 1,106 4,791
Creditors: amounts falling due within one year 4 (47,084) (49,803)
Net current liabilities (45,978) (45,012)
Total assets less current liabilities 2,235,326 1,836,292
Creditors: amounts falling due after more than one year 5 (2,172,028) (1,779,050)
Net assets 63,298 57,242
Capital and reserves
Called up share capital 100 -
Revaluation reserve 6 53,450 53,450
Profit and loss account 9,748 3,792
Shareholders' funds 63,298 57,242
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Bharat Shah
Director
Approved by the board on 7 October 2024
354 SPV1 Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 1,880,000 1,304 1,881,304
Additions 400,000 - 400,000
At 31 January 2024 2,280,000 1,304 2,281,304
Depreciation
At 31 January 2024 - - -
Net book value
At 31 January 2024 2,280,000 1,304 2,281,304
At 31 January 2023 1,880,000 1,304 1,881,304
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,215 766
Directors Loan Account 45,869 49,037
47,084 49,803
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,719,267 1,419,849
Amounts owed to group undertakings and undertakings in which the company has a participating interest 452,761 359,201
2,172,028 1,779,050
6 Revaluation reserve 2024 2023
£ £
At 1 February 2023 53,450 53,450
At 31 January 2024 53,450 53,450
7 Other information
354 SPV1 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
83 Lavender Hil
Ideaspace
London
SW11 5QL
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