REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
Canary Wharf Lettings Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non distributable reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
Tangible fixed assets |
Plant and machinery | - |
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 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 October 2023 |
Revaluations |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
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 |
Additions |
Revaluations | (92,000 | ) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
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 |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade creditors |
Directors' current accounts | 740 | 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) |
Directors' curr accs over 1yr | 721,542 | 721,542 |
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 |
Provided during year |
Balance at 30 September 2024 |
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. |
16 Beaufort Court |
Admirals Way |
London |
Docklands |
London |
E14 9XL |