Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31false2024-01-01The Company is principally engaged in the management of its one property: 101 New Bond Street, London W1.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06389811 2024-01-01 2024-12-31 06389811 2023-01-01 2023-12-31 06389811 2024-12-31 06389811 2023-12-31 06389811 2023-01-01 06389811 c:Director1 2024-01-01 2024-12-31 06389811 c:Director2 2024-01-01 2024-12-31 06389811 c:RegisteredOffice 2024-01-01 2024-12-31 06389811 d:FreeholdInvestmentProperty 2024-12-31 06389811 d:FreeholdInvestmentProperty 2023-12-31 06389811 d:CurrentFinancialInstruments 2024-12-31 06389811 d:CurrentFinancialInstruments 2023-12-31 06389811 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06389811 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06389811 d:ShareCapital 2024-12-31 06389811 d:ShareCapital 2023-12-31 06389811 d:ShareCapital 2023-01-01 06389811 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 06389811 d:RetainedEarningsAccumulatedLosses 2024-12-31 06389811 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06389811 d:RetainedEarningsAccumulatedLosses 2023-12-31 06389811 d:RetainedEarningsAccumulatedLosses 2023-01-01 06389811 d:OtherDeferredTax 2024-12-31 06389811 d:OtherDeferredTax 2023-12-31 06389811 c:OrdinaryShareClass1 2024-01-01 2024-12-31 06389811 c:OrdinaryShareClass1 2024-12-31 06389811 c:OrdinaryShareClass1 2023-12-31 06389811 c:FRS102 2024-01-01 2024-12-31 06389811 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06389811 c:FullAccounts 2024-01-01 2024-12-31 06389811 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06389811 2 2024-01-01 2024-12-31 06389811 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06389811









101 NEW BOND STREET LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
101 NEW BOND STREET LIMITED
 
 
COMPANY INFORMATION


Directors
E J R Lee 
J M A Schalken 




Registered number
06389811



Registered office
Eighth Floor
6 New Street Square

New Fetter Lane

London

EC4A 3AQ




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
101 NEW BOND STREET LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 7


 
101 NEW BOND STREET LIMITED
REGISTERED NUMBER: 06389811

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
53,500,000
53,500,000

  
53,500,000
53,500,000

  

Creditors: amounts falling due within one year
 5 
(15,224,478)
(16,765,514)

Net current liabilities
  
 
 
(15,224,478)
 
 
(16,765,514)

Total assets less current liabilities
  
38,275,522
36,734,486

Provisions for liabilities
  

Deferred tax
 6 
(11,034,644)
(11,034,644)

  
 
 
(11,034,644)
 
 
(11,034,644)

Net assets
  
27,240,878
25,699,842


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
 8 
27,240,877
25,699,841

  
27,240,878
25,699,842


Page 1

 
101 NEW BOND STREET LIMITED
REGISTERED NUMBER: 06389811
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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: 




E J R Lee
Director

Date: 21 February 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
101 NEW BOND STREET LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
1
24,107,712
24,107,713



Profit for the year
-
1,592,129
1,592,129



At 1 January 2024
1
25,699,841
25,699,842



Profit for the year
-
1,541,036
1,541,036


At 31 December 2024
1
27,240,877
27,240,878


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
101 NEW BOND STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

101 New Bond Street Limited is a private company, limited by shares, incorporated in England and Wales with registration number 06389811. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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 a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company expects the continued support of the parent company to provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.

 
2.3

Revenue

Revenue represents rental income receivable and the recharge of rates and service charges (where appropriate). This is accrued on a straight line basis.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
101 NEW BOND STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Investment property

Investment property is carried at fair value determined every three years by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The directors undertake their own valuation in the intervening years. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
101 NEW BOND STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
53,500,000



At 31 December 2024
53,500,000

The company's investment property was revalued to fair value at 31 December 2022 based on an assessment of the valuation undertaken by Jones Lang LaSalle Limited, on an open market value for existing use basis. The directors consider there to be no material change to the valuation.

The group has pledged this investment property, valued at a total of £53,500,000, to secure loan notes provided to the ultimate parent undertaking by related parties.







5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
14,486,336
16,127,134

Corporation tax
238,142
138,380

Accruals and deferred income
500,000
500,000

15,224,478
16,765,514


Page 6

 
101 NEW BOND STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Deferred taxation




2024


£






At beginning of year
(11,034,644)



At end of year
(11,034,644)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Property revaluation timing differences
(11,034,644)
(11,034,644)


7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1
1
1



8.


Reserves

Profit and loss account

The profit and loss account represents cumulative realised and unrealised profits and losses net of dividends and other adjustments.


9.


Contingent liabilities

The company is in a VAT group headed by its parent company PS&N (Holdings) Limited. Whilst the returns are filed under PS&N (Holdings) Limited and the liability paid by PS&N (Holdings) Limited, the company remains jointly and severally responsible for group VAT liabilities.


10.


Controlling party

The immediate and ultimate parent company and controlling party is PS&N (Holdings) Limited, a company incorporated and registered in England and Wales. Consolidated financial statements are prepared for PS&N (Holdings) Limited, which is the smallest and largest group for which consolidated financial statements are prepared of which the company is a member.
Copies of the PS&N (Holdings) Limited financial statements are available from Companies House.

 
Page 7