Registered number
09180861
Baron Properties Commercial Limited
Filleted Accounts
31 March 2024
UKFS Consulting Limited
33 Naseby Road
Ilford
Essex
IG5 0NN
Baron Properties Commercial Limited
Registered number: 09180861
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 7,400,000 6,116,981
Current assets
Debtors 4 - 7,500
Cash at bank and in hand 12,143 25,270
12,143 32,770
Creditors: amounts falling due within one year 6 (5,550,090) (5,714,679)
Net current liabilities (5,537,947) (5,681,909)
Total assets less current liabilities 1,862,053 435,072
Provisions for liabilities (221,260) -
Net assets 1,640,793 435,072
Capital and reserves
Called up share capital 4 4
Fairvalue reserve 1,061,759 -
Profit and loss account 579,030 435,068
Shareholders' funds 1,640,793 435,072
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.
B Naghdi-Esfastani
Director
Approved by the board on 22 October 2024
Baron Properties Commercial Limited
Notes to the Accounts
for the year ended 31 March 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).
Investment property
Investments in property are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Investment property
£
Cost
At 1 April 2023 6,116,981
Surplus on revaluation 1,283,019
At 31 March 2024 7,400,000
Net book value
At 31 March 2024 7,400,000
At 31 March 2023 6,116,981
4 Debtors 2024 2023
£ £
Other debtors - 7,500
5 Investments properties 2024 2023
£ £
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Investment property 1,283,019 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Director's current account 1,148,023 1,148,023
Other loans 1,159,725 1,202,925
Amount owed to related parties 3,194,856 3,332,657
Taxation and social security costs 46,803 30,599
Other creditors 683 475
5,550,090 5,714,679
7 Related party transactions
As at 31st March 2024, Baron Properties Commercial Ltd owes balances to the following related businesses with the similar directorship / ownership. All intercompany loans are interest free and repayable on demand.
2024 2023
£ £
Baron Properties (partnership) (1,159,725) (1,202,925)
Baron Properties London Limited (3,027,300) (3,062,301)
Grantly Hotel Limited (137,556) (240,356)
Amir Baron Property London Limited (30,000) (30,000)
During the year the company charged rent of £200,000 (2023: £160,000) to other related party.
8 Other information
Baron Properties Commercial Limited is a private company limited by shares and incorporated in England. Its registered office is:
50-51, Shepherds Bush Green
London
W12 8PS
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