Company Registration No. 05046416 (England and Wales)
58 DYKE ROAD LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
58 DYKE ROAD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
58 DYKE ROAD LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,631
5,631
Current assets
Debtors
4
1,639
1,639
Cash at bank and in hand
914
362
2,553
2,001
Creditors: amounts falling due within one year
5
(2,596)
(3,149)
Net current liabilities
(43)
(1,148)
Total assets less current liabilities
5,588
4,483
Creditors: amounts falling due after more than one year
6
(5,631)
(5,631)
Net liabilities
(43)
(1,148)
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
(343)
(1,448)
Total equity
(43)
(1,148)
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 November 2024 and are signed on its behalf by:
Ben Croall
Director
Company registration number 05046416 (England and Wales)
58 DYKE ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
58 Dyke Road Limited is a private company limited by shares incorporated in England and Wales. The registered office is 58 Dyke Road, Brighton, East Sussex, BN1 3JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents service charges receivable from the Lessees of 58 Dyke Road during the year, in order to meet the relevant costs in relation to the property in accordance with the provisions of Section 42 of the Landlord and Tenant Act 1987.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Included at cost in tangible fixed assets is the freehold interest of 58 Dyke Road, Brighton, East Sussex, BN1 3JB which is not depreciated or revalued.
1.4
Financial instruments
The company has the following financial instruments:
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
58 DYKE ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2023 and 29 February 2024
5,631
Depreciation and impairment
At 1 March 2023 and 29 February 2024
Carrying amount
At 29 February 2024
5,631
At 28 February 2023
5,631
Cost represents the freehold reversion in the land and buildings at the property known as 58 Dyke Road, Brighton, East Sussex, BN1 3JB.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,639
1,639
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,504
2,104
Accruals and deferred income
1,092
1,045
2,596
3,149
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other borrowings
5,631
5,631
Other creditors comprise a loan to the company by the original lessees/shareholders to finance the purchase of the freehold interest in 58 Dyke Road, Brighton, East Sussex, BN1 3JB. The directors do not expect this amount to be repayable for the foreseeable future.
7
Financial commitments, guarantees and contingent liabilities
The company contracts with third parties in its own name for the supply of services to the property for maintenance of the common parts in accordance with the terms of the leases. At 29 February 2024, the company had not entered into any non-cancellable contractual commitments (2023 - £Nil).
58 DYKE ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
8
Controlling party
The directors are of the opinion that no one person has ultimate control of the company.