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Company No: 14948806 (England and Wales)

BRISTOL ARGYLE ROAD FREEHOLD LTD

Unaudited Financial Statements
For the financial period from 20 June 2023 to 30 April 2024
Pages for filing with the registrar

BRISTOL ARGYLE ROAD FREEHOLD LTD

Unaudited Financial Statements

For the financial period from 20 June 2023 to 30 April 2024

Contents

BRISTOL ARGYLE ROAD FREEHOLD LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
BRISTOL ARGYLE ROAD FREEHOLD LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 30.04.2024
£
Fixed assets
Investment property 3 1
Investments 4 100
101
Current assets
Debtors 5 1,083
Cash at bank and in hand 181
1,264
Creditors: amounts falling due within one year 6 ( 7,486)
Net current liabilities (6,222)
Total assets less current liabilities (6,121)
Net liabilities ( 6,121)
Capital and reserves
Called-up share capital 7 100
Profit and loss account ( 6,221 )
Total shareholders' deficit ( 6,121)

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bristol Argyle Road Freehold Ltd (registered number: 14948806) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

N Kalms
Director
B Radstone
Director

19 October 2024

BRISTOL ARGYLE ROAD FREEHOLD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 20 June 2023 to 30 April 2024
BRISTOL ARGYLE ROAD FREEHOLD LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 20 June 2023 to 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Bristol Argyle Road Freehold Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised by the Company in respect of rental income and recharges during the year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
20.06.2023 to
30.04.2024
Number
Monthly average number of persons employed by the company during the period, including directors 2

3. Investment property

Investment property
£
Valuation
As at 20 June 2023 0
Additions 1
As at 30 April 2024 1

Historic cost

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

30.04.2024
£
Historic cost 1

4. Fixed asset investments

Investments in subsidiaries

30.04.2024
£
Cost
At 20 June 2023 0
Additions 100
At 30 April 2024 100
Carrying value at 30 April 2024 100

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.04.2024
Held
Bristol Argyle Road Flat Ltd 35 Ballards Lane, London, N3 1XW Property investment Ordinary 100.00% Direct

5. Debtors

30.04.2024
£
Trade debtors 983
Other debtors 100
1,083

6. Creditors: amounts falling due within one year

30.04.2024
£
Amounts owed to connected companies 2,797
Amounts owed to related parties 2,529
Other creditors 2,160
7,486

Amounts owed to connected companies and related parties are unsecured, interest-free, have no fixed date of repayment and are repayable on demand.

7. Called-up share capital

30.04.2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

During the period, 100 Ordinary shares of £1.00 were issued at par value.

8. Related party transactions

Where possible, the company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.

Included within other creditors is a balance of £5,326 owed to companies in which the directors have an interest either as directors or participators. The balance is unsecured and interest free with no fixed repayment terms.