Company Registration No. 09961111 (England and Wales)
258 Investments Ltd
Unaudited accounts
for the year ended 31 March 2024
258 Investments Ltd
Unaudited accounts
Contents
258 Investments Ltd
Company Information
for the year ended 31 March 2024
Company Number
09961111 (England and Wales)
Registered Office
Unit 5, Swaker Yard
2B Theobald Street
Herts
WD6 4SE
United Kingdom
Accountants
Platts
Unit 5 Swaker Yard
2b Theobald Street
Herts
WD6 4SE
258 Investments Ltd
Statement of financial position
as at 31 March 2024
Investment property
12,402,390
12,292,390
Cash at bank and in hand
160,248
73,900
Creditors: amounts falling due within one year
(72,318)
(46,438)
Net current assets
512,630
452,260
Total assets less current liabilities
12,915,020
12,744,650
Creditors: amounts falling due after more than one year
(11,291,100)
(11,289,100)
Provisions for liabilities
Deferred tax
(271,264)
(243,764)
Net assets
1,352,656
1,211,786
Called up share capital
100
100
Revaluation reserve
1,121,503
1,039,003
Profit and loss account
231,053
172,683
Shareholders' funds
1,352,656
1,211,786
For the year ending 31 March 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 May 2024 and were signed on its behalf by
Mr A O O Joshua
Director
Company Registration No. 09961111
258 Investments Ltd
Notes to the Accounts
for the year ended 31 March 2024
258 Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 09961111. The registered office is Unit 5, Swaker Yard, 2B Theobald Street, Herts, WD6 4SE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Fair value at 1 April 2023
12,292,390
Net gain from fair value adjustments
110,000
At 31 March 2024
12,402,390
258 Investments Ltd
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
15,200
15,298
Other debtors
409,500
409,500
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
37,635
15,335
Other creditors
14,013
11,850
Loans from directors
20,670
19,253
7
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
11,291,100
11,289,100
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
As detailed in the director's report, the director holds the company's entire issued share capital.
The amount owed to group undertakings and other participating interest is represented by Sparta Promotions Limited in the sum of £11,291,100 (2023 - £11,289,100) ) in which Mr A O O Joshua is a director and shareholder, which is interest free, secured by a fixed charge over the company's investment properties and repayable within 5 years.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).