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REGISTERED NUMBER: 08711902


















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Canary Wharf Lettings Limited

Canary Wharf Lettings Limited (Registered number: 08711902)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Canary Wharf Lettings Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs H W Diffey
N Diffey





REGISTERED OFFICE: 16 Beaufort Court
Admirals Way
Docklands
London
E14 9XL





REGISTERED NUMBER: 08711902





ACCOUNTANTS: RBS Accountants Limited
16 Beaufort Court
Admirals Way
London
Docklands
London
E14 9XL

Canary Wharf Lettings Limited (Registered number: 08711902)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 363 727
Investments 5 452,418 211,653
Investment property 6 1,807,487 1,861,578
2,260,268 2,073,958

CURRENT ASSETS
Debtors 7 12,805 11,337
Cash at bank 117,296 204,178
130,101 215,515
CREDITORS
Amounts falling due within one year 8 741 428
NET CURRENT ASSETS 129,360 215,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,389,628

2,289,045

CREDITORS
Amounts falling due after more than one
year

9

(2,051,976

)

(2,008,055

)

PROVISIONS FOR LIABILITIES 11 (78,675 ) (41,644 )
NET ASSETS 258,977 239,346

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 371,448 259,716
Retained earnings (112,571 ) (20,470 )
SHAREHOLDERS' FUNDS 258,977 239,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Canary Wharf Lettings Limited (Registered number: 08711902)

Balance Sheet - continued
30 September 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 Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





Mrs H W Diffey - Director


Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

There are charges by RoofTop Mortgages which are as follows:

Charge code 0871 1902 0005 on Flat 63, Naxos building, 4 Hutchings Street, London,

There are charges by Aldermore Bank PLC which are as follows:

Charge code 0871 1902 0008 Flat 28.09, 26 Hertsmere Road, London E14 4EG and Apartment 27.07, 26 Hertsmere Road, London, E14 4EF

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Other operating income
Other operating income relates to rental income from the freehold property owned by the company.

Rental income is recognised in the period the rent is due.

Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 4,569 1,454 6,023
DEPRECIATION
At 1 October 2023 4,569 727 5,296
Charge for year - 364 364
At 30 September 2024 4,569 1,091 5,660
NET BOOK VALUE
At 30 September 2024 - 363 363
At 30 September 2023 - 727 727

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2023 211,653
Revaluations 240,765
At 30 September 2024 452,418
NET BOOK VALUE
At 30 September 2024 452,418
At 30 September 2023 211,653

Cost or valuation at 30 September 2024 is represented by:

Other
investments
£   
Valuation in 2022 (69,431 )
Valuation in 2023 66,791
Valuation in 2024 240,764
Cost 214,294
452,418

Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 1,861,578
Additions 37,909
Revaluations (92,000 )
At 30 September 2024 1,807,487
NET BOOK VALUE
At 30 September 2024 1,807,487
At 30 September 2023 1,861,578

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2015 195,000
Valuation in 2016 165,000
Valuation in 2023 (56,000 )
Valuation in 2024 (92,000 )
Cost 1,595,487
1,807,487

If the investment properties had not been revalued they would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 1,595,487 1,557,578

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 500 -
Prepayments 12,305 11,337
12,805 11,337

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 1 -
Directors' current accounts 740 428
741 428

Canary Wharf Lettings Limited (Registered number: 08711902)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 10) 1,330,434 1,286,513
Directors' curr accs over 1yr 721,542 721,542
2,051,976 2,008,055

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,330,434 1,286,513

10. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 1,330,434 1,286,513

11. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 78,675 41,644

Deferred
tax
£   
Balance at 1 October 2023 41,644
Provided during year 37,031
Balance at 30 September 2024 78,675

12. RELATED PARTY DISCLOSURES

Mrs H W Diffey holds more than 75% shares in the company.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs H W Diffey.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Canary Wharf Lettings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Canary Wharf Lettings Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Canary Wharf Lettings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Canary Wharf Lettings Limited and state those matters that we have agreed to state to the Board of Directors of Canary Wharf Lettings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Canary Wharf Lettings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Canary Wharf Lettings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Canary Wharf Lettings Limited. You consider that Canary Wharf Lettings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Canary Wharf Lettings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






RBS Accountants Limited
16 Beaufort Court
Admirals Way
London
Docklands
London
E14 9XL


19 November 2024