Company registration number 10581871 (England and Wales)
6-ADDISON BRIDGE PLACE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
6-ADDISON BRIDGE PLACE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
6-ADDISON BRIDGE PLACE LTD
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
2,414,646
2,399,380
Debtors
3
8,510
443
Cash at bank and in hand
59,193
17,540
2,482,349
2,417,363
Creditors: amounts falling due within one year
4
(1,236,040)
(965,820)
Net current assets
1,246,309
1,451,543
Creditors: amounts falling due after more than one year
5
(1,230,808)
(1,443,750)
Net assets
15,501
7,793
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
14,501
6,793
Total equity
15,501
7,793

For the financial year ended 31 January 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 25 January 2025
Mr K Lawal
Director
Company registration number 10581871 (England and Wales)
6-ADDISON BRIDGE PLACE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

6-ADDISON Bridge Place Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 95/97 Lower Addiscombe Road, Croydon, Surrey, CR0 6PT.

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 is recognised at the fair value of the consideration received or receivable for rental services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Stocks

Development properties are defined as those properties in respect of which construction and development have not been completed at the balance sheet date and are classified as work in progress within stocks until sold.

 

Development properties are recognised at the point of legal exchange, and are stated at the lower of cost and net realisable value where cost consists of the purchase price of the land or property and direct expenditure incurred in developing the property.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

6-ADDISON BRIDGE PLACE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,972
-
0
Other debtors
538
443
8,510
443
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13,940
3,240
Corporation tax
3,461
1,593
Other creditors
1,218,639
960,987
1,236,040
965,820
6-ADDISON BRIDGE PLACE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,230,808
1,443,750

The company has one charge. The loan is secured by a legal charge over 6 Addison Bridge place which contains both a fixed charge and negative pledge.

 

The balance of the loan at the year end amounted to £1,230,808 (2023 - £1,443,750)

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