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Registered number: 14906748









361 HAMMERSMITH LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 14 MONTH PERIOD ENDED 31 JULY 2024

 
361 HAMMERSMITH LTD
REGISTERED NUMBER: 14906748

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

31 July
2024
Note
£

  

Current assets
  

Stocks
  
3,946,379

Debtors: amounts falling due within one year
 4 
32,093

  
3,978,472

Creditors: amounts falling due within one year
 5 
(1,685,903)

Net current assets
  
 
 
2,292,569

Total assets less current liabilities
  
2,292,569

Creditors: amounts falling due after more than one year
  
(2,509,845)

  

Net (liabilities)/assets
  
(217,276)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(217,376)

  
(217,276)


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






R B Gershon
Director

Date: 24 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
361 HAMMERSMITH LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE 14 MONTH PERIOD ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the 14 Month period

Loss for the 14 Month period
-
(217,376)
(217,376)
Total comprehensive income for the 14 Month period
-
(217,376)
(217,376)

Shares issued during the 14 Month period
100
-
100


Total transactions with owners
100
-
100


At 31 July 2024
100
(217,376)
(217,276)

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
361 HAMMERSMITH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 14 MONTH PERIOD ENDED 31 JULY 2024

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales.
The principal activity of the Company is that of property development.
The Registered Office address is 35 Ballards Lane, London, N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as in the opinion of the directors the company will generate future income sufficient to cover the liabilities of the company.
The company has made a loss in the year and relies on the support of a group entity which has confirmed its intention to provide support for a period of twelve months from the date of signing of the accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Other income relates to the letting of property.

Page 3

 
361 HAMMERSMITH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 14 MONTH PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting
Financial assets and liabilities are offset and 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.

Page 4

 
361 HAMMERSMITH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 14 MONTH PERIOD ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the 14 Month period was 2.


4.


Debtors

2024
£


Trade debtors
7,583

Other debtors
3,808

Prepayments and accrued income
20,702

32,093



5.


Creditors: Amounts falling due within one year

2024
£

Amounts owed to group undertakings
1,279,967

Other creditors
348,190

Accruals and deferred income
57,746

1,685,903


Amounts due from group companies is unsecured, interest free and repayable on demand.
Included in Other creditors is £320,000 due to an other related party that bears interest at 10% per annum, is unsecured and repayable on demand.


6.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
2,509,845


The loan bears interest at 13.25% per annum, is secured over a charge on the property in the company, a debenture over the assets and an a joint and several personal guarantee by B W Thwaites. The loan is  repayable in September 2025.

Page 5

 
361 HAMMERSMITH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 14 MONTH PERIOD ENDED 31 JULY 2024

7.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


100 Ordinary shares of £1 each were issued for a consideration of £100 during the period.


8.


Related party transactions

Included in expenses is £26,389 for management recharges paid to a shareholder during the year. A balance of £1,279,967 was payable to this shareholder at year end.
A balance of £320,000 was payable to an other related party at year end. Interest of £29,370 was paid on this balance during the year.


9.


Post balance sheet events

The Company acquired two subsidiaries post year end through incorporation. 361 Hammersmith Residential Limited and 361 Hammersmith Commercial Limited were both incorporated on 19 September 2024.


10.


Controlling party

The parent undertaking is Tranos (UK) Limited, a company registered in England & Wales.
The registered office is 35 Ballards Lane, London, N3 1XW.


11.


Auditors' information

The auditors' report on the financial statements for the 14 Month period ended 31 July 2024 was unqualified.

The audit report was signed on 25 February 2025 by Nick Bishop FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 6