Company registration number:
5975 Reading Ltd
Filleted Unaudited financial statements
31 May 2024
5975 Reading Ltd
Contents
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Directors and other information | 1 |
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Directors' report | 2 |
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Statement of financial position | 3 - 4 |
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Notes to the financial statements | 5 - 8 |
5975 Reading Ltd
Directors and other information
Directors | |
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Company number | 11647179 |
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Registered office | |
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5975 Reading Ltd
Directors' report
Year ended 31 May 2024
The directors presents their report and the unaudited financial statements of the company for year ended 31 May 2024.
Directors
The directors who served the company during the year were as follows:
M G Curran (appointed
C Cingi (appointed
Small companies provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on the 17th February 2025 and signed on behalf of the board by:
C Cingi
Director
5975 Reading Ltd
Statement of financial position
31 May 2024
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Fixed assets |
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Investment property |
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Tangible assets | 5 |
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Current assets |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 7 | ( |
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Net current liabilities |
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Total assets less current liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders earnings |
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For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• | The shareholders have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; |
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The notes on pages 5 to 8 form part of these financial statements.
5975 Reading Ltd
Statement of financial position (continued)
31 May 2024
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by
C Cingi
Director
Company registration number: 11647179
The notes on pages 5 to 8 form part of these financial statements.
5975 Reading Ltd
Notes to the financial statements
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 Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, United Kingdom, NN15 6WJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS102, Section 1A, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date, the reporting entity had net current liabilities in the sum of £12,211,604 (2023: £12,669,688). The company is reliant on the support of the creditors. On the basis that the creditors will continue to support the reporting entity for the foreseeable future, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the creditors.
Revenue
Revenue comprises of rental income. Rental income is derived from leasing properties to third parties and is recognised on an accrual basis in line with the terms of the lease agreement. Revenue from rental income is recognised in the period in which it is earned, provided that it is probable that the economic benefits will flow to the company and the amount of revenue can be reliably measured. Where lease payments are due in arrears, rental income is recognised as earned based on the lease agreement terms. For lease payments received in advance, the income is recognised as deferred income and recognised over the lease term.
5975 Reading Ltd
Notes to the financial statements
Year ended 31 May 2024
3. Accounting policies (continued)
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investment property
Investment property is initially recorded at purchase price plus any other directly attributable costs, and is subsequently stated at fair value. Fair value gains and losses that arise after initial recognition are taken to profit or loss.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value over the useful economic life of that asset as follows:
Fittings fixtures and equipment -
Depreciation is not charged in the month of purchase.
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
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.
5975 Reading Ltd
Notes to the financial statements
Year ended 31 May 2024
4. Employee numbers
The average number of employees during the year was
5. Tangible assets
| Fixtures, fittings and equipment |
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Cost |
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Additions | - |
Disposals | - |
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At 31 May 2024 | |
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Depreciation |
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Charge for the year | |
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At 31 May 2024 | |
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Carrying amount |
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At 31 May 2024 | |
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At 31 May 2023 |
6. Debtors
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Debtors | ||
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Prepayments | ||
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5975 Reading Ltd
Notes to the financial statements
Year ended 31 May 2024
7. Creditors: amounts falling due within one year
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| Note | £ | £ |
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Other creditors |
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Amounts owing to parent company | 7.1 | ||
Accruals |
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7.1
8. Related party balances and transactions
8.1 Related party balances and transactions
Information on balances due by/to related parties is set out in note 7 to these financial statements.
8.2 Related party transactions
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Expenses |
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Accrued director's remuneration | ( | - |
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Financing transactions |
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Amounts owing to parent company | ( |