Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3112023-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1falseThe principal activity of the company in the year under review was that of letting and operating of own or leased real estate. The company did not carry any business activity during the year.truetruefalse 11864069 2023-01-01 2023-12-31 11864069 2022-01-01 2022-12-31 11864069 2023-12-31 11864069 2022-12-31 11864069 c:Director1 2023-01-01 2023-12-31 11864069 d:FreeholdInvestmentProperty 2023-12-31 11864069 d:FreeholdInvestmentProperty 2022-12-31 11864069 d:CurrentFinancialInstruments 2023-12-31 11864069 d:CurrentFinancialInstruments 2022-12-31 11864069 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11864069 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11864069 d:ShareCapital 2023-12-31 11864069 d:ShareCapital 2022-12-31 11864069 d:RetainedEarningsAccumulatedLosses 2023-12-31 11864069 d:RetainedEarningsAccumulatedLosses 2022-12-31 11864069 c:FRS102 2023-01-01 2023-12-31 11864069 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11864069 c:FullAccounts 2023-01-01 2023-12-31 11864069 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11864069 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11864069









BLACKFRIARS ROAD PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BLACKFRIARS ROAD PROPERTIES LIMITED
REGISTERED NUMBER: 11864069

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
8,000,000
8,000,000

  
8,000,000
8,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
29,938
14,260

Cash at bank and in hand
 6 
1,248,738
1,332,001

  
1,278,676
1,346,261

Creditors: amounts falling due within one year
 7 
(10,625,092)
(10,610,468)

Net current liabilities
  
 
 
(9,346,416)
 
 
(9,264,207)

Total assets less current liabilities
  
(1,346,416)
(1,264,207)

  

Net liabilities
  
(1,346,416)
(1,264,207)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,346,417)
(1,264,208)

  
(1,346,416)
(1,264,207)


Page 1

 
BLACKFRIARS ROAD PROPERTIES LIMITED
REGISTERED NUMBER: 11864069
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 comprehensive income 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 by: 




H V O Mirhadiyev
Director

Date: 13 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BLACKFRIARS ROAD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Blackfriars Road Properties 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

 
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis even though at the balance sheet date the company incurred a net loss of £82,209 (2022: £444,359). At 31 December 2023, the Company had net current liabilities of £9,346,416 (2022: £9,264,207).
The Director considers the going concern basis to be appropriate due to the fact that the controlling parties have agreed to provide financial support for the next 12 months as from the date of the approval of the financial statements in order for the Company to meet its current liabilities.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
BLACKFRIARS ROAD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

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.

 
2.7

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
BLACKFRIARS ROAD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
8,000,000



At 31 December 2023
8,000,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
8,910,907
8,910,907

8,910,907
8,910,907


5.


Debtors

2023
2022
£
£


Amount owed by related parties
15,689
9,989

Other debtors
14,249
4,271

29,938
14,260



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,248,738
1,332,001

1,248,738
1,332,001


Page 5

 
BLACKFRIARS ROAD PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
19,763
11,094

Other creditors
10,599,829
10,594,129

Accruals and deferred income
5,500
5,245

10,625,092
10,610,468



8.


Related party transactions

During the year ended 31 December 2023, there have been no new transactions with the company's director, UBO or related parties. All outstanding balances, detailed below, have been brought forward.
At 31 December 2023, the balance owed to the company director, due to payments made towards the purchase of the property and payments of company administrative expenses, was £836,780 (2022: £836,780).
At 31 December 2023, the balance owed to the company's UBO, for the purchase of the company's property, was £9,757,349 (2022: £9,757,349).
At 31 December 2023, the Company had debtor balances with the following related parties (companies under common control):
- Stradella Ventures Limited: £2,308 (2022: £2,308).
- Oxford Street Properties Limited: £799 (2022: £799).
At 31 December 2023, the Company also had a debtor balance with its parent company, Rho Holding Limited, of £12,582 (2022: £12,582).
At the year end date, the Company also had a creditor balance with Ancona Capital Limited of £5,700 (2022: £5,700).
 


9.


Controlling party

The ultimate controlling party is Huseyn Mirhadiyev.

 
Page 6