0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 932,756 7,194,257 1,052,517 9,179,530 9,179,530 932,756 xbrli:pure xbrli:shares iso4217:GBP 13406330 2023-06-01 2024-05-31 13406330 2024-05-31 13406330 2023-05-31 13406330 2022-06-01 2023-05-31 13406330 2023-05-31 13406330 2022-05-31 13406330 bus:Director1 2023-06-01 2024-05-31 13406330 core:LandBuildings core:LongLeaseholdAssets 2023-06-01 2024-05-31 13406330 core:WithinOneYear 2024-05-31 13406330 core:WithinOneYear 2023-05-31 13406330 core:AfterOneYear 2024-05-31 13406330 core:AfterOneYear 2023-05-31 13406330 core:ShareCapital 2024-05-31 13406330 core:ShareCapital 2023-05-31 13406330 core:RetainedEarningsAccumulatedLosses 2024-05-31 13406330 core:RetainedEarningsAccumulatedLosses 2023-05-31 13406330 core:LandBuildings core:LongLeaseholdAssets 2024-05-31 13406330 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 13406330 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 13406330 bus:SmallEntities 2023-06-01 2024-05-31 13406330 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13406330 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13406330 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13406330 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 13406330
131 St Johns Hill (Rushey) Limited
Filleted Unaudited Accounts
31 May 2024
131 St Johns Hill (Rushey) Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Investment Property
4
9,179,530
932,756
Current assets
Debtors
5
71,271
185,325
Cash at bank and in hand
16
17,618
--------
---------
71,287
202,943
Creditors: amounts falling due within one year
6
( 1,071,265)
( 223,867)
------------
---------
Net current liabilities
( 999,978)
( 20,924)
------------
---------
Total assets less current liabilities
8,179,552
911,832
Creditors: amounts falling due after more than one year
7
( 7,516,278)
( 981,000)
------------
---------
Net assets/(liabilities)
663,274
( 69,168)
------------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
662,274
( 70,168)
---------
--------
Shareholders funds/(deficit)
663,274
( 69,168)
---------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
131 St Johns Hill (Rushey) Limited
Statement of Financial Position (continued)
31 May 2024
These accounts were approved by the board of directors and authorised for issue on 25 February 2025 , and are signed on behalf of the board by:
S P Patel
Director
Company registration number: 13406330
131 St Johns Hill (Rushey) Limited
Notes to the Accounts
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Argyle House, Joel Street, Northwood, HA6 1NW, England.
2. Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents amounts, net of value added tax, of rental income. Rental income is recognised in the profit and loss account on a straight-line basis over the lease term in other operating income. Where rents are billed in advance of the period to which they relate these are recorded in creditors as deferred income.
Investment property
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in profit and loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investment property
Investment property
£
Cost or valuation
At 1 June 2023
932,756
Additions
7,194,257
Revaluations
1,052,517
------------
At 31 May 2024
9,179,530
------------
Depreciation
At 1 June 2023 and 31 May 2024
------------
Carrying amount
At 31 May 2024
9,179,530
------------
At 31 May 2023
932,756
------------
5. Debtors
2024
2023
£
£
Trade debtors
5,509
3,881
Prepayments and accrued income
212
Other debtors
65,550
181,444
--------
---------
71,271
185,325
--------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,804
Amounts owed to group undertakings
1,051,265
218,063
Amounts owed to undertakings in which the company has a participating interest
15,000
Other creditors
5,000
------------
---------
1,071,265
223,867
------------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
7,516,278
981,000
------------
---------