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Registered Number: 11844529
England and Wales

 

 

 

28G DEVONSHIRE PLACE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investment properties 3 2,100,633    2,100,633 
2,100,633    2,100,633 
Current assets      
Debtors 4 53,468    25,750 
Cash at bank and in hand 13,604    36,399 
67,072    62,149 
Creditors: amount falling due within one year 5 (1,910,765)   (1,202,835)
Net current assets (1,843,693)   (1,140,686)
 
Total assets less current liabilities 256,940    959,947 
Creditors: amount falling due after more than one year 6   (745,996)
Net assets 256,940    213,951 
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account 256,840    213,851 
Shareholders' funds 256,940    213,951 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 November 2024 and were signed on its behalf by:


-------------------------------
Kaveh Shakib
Director
1
General Information
28G Devonshire Place Limited is a private company, limited by shares, registered in England and Wales, registration number 11844529, registration address Ground Floor Ginsberg Yard, Back Lane, London, NW3 1EW.

The presentation currency is £ sterling.
1.

Accounting policies

Accounting policies
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).
Turnover
Turnover comprises of rental income receivable.  Rental income from investment property is recognised in the profit & loss account (on an accrual basis).
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Basic financial instruments are recognised at amortised cost.
2.

Average number of employees


Average number of employees during the year was 2 (2023 : 2).
3.

Investment properties

Cost or valuation Investment properties   Total
  £   £
At 01 April 2023 2,100,633    2,100,633 
Additions  
Disposals  
At 31 March 2024 2,100,633    2,100,633 
Depreciation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 2,100,633    2,100,633 
Opening balance as at 01 April 2023 2,100,633    2,100,633 

The 2024 valuations were made by the directors, on an open market value for existing use basis.  The cost as at 31 March 2024 was £2,100,633 (2023: £2,100,633).

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments 750    750 
750    750 

4.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 52,718    25,000 
52,718    25,000 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans (Secured)   31,212 
Corporation Tax 14,330    10,774 
Accrued Expenses 1,063    1,947 
Deferred income 26,290    23,075 
Other Creditors 1,869,082    1,135,827 
1,910,765    1,202,835 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans (secured) due between 1-2 years   745,996 
  745,996 
Bank loans are secured by way of a fixed and floating charge over the assets of the company, dated 26 April 2019.  All the charges were satisfied in full on 5 February 2024, when the loans were redeemed.

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

8.

Related party transactions

Included within creditors due within one year is £1,844,082 (2023: £1,110,827) due to a director and shareholder.

2