Company registration number 10658465 (England and Wales)
39 FITZJOHNS AVENUE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
39 FITZJOHNS AVENUE LIMITED
COMPANY INFORMATION
Directors
P G Lewis
J Tobin
(Appointed 1 March 2024)
R T Bucke
(Appointed 1 March 2024)
Company number
10658465
Registered office
100 Marylebone Road
London
United Kingdom
NW1 5DX
Accountants
Gerald Edelman LLP
73 Cornhill
London
EC3V 3QQ
Business address
100 Marylebone Road
London
United Kingdom
NW1 5DX
39 FITZJOHNS AVENUE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
39 FITZJOHNS AVENUE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
3
40,683,777
37,844,584
Debtors
4
7,119
21,410
Cash at bank and in hand
23,585
2,974
40,714,481
37,868,968
Creditors: amounts falling due within one year
5
(11,544,042)
(10,826,710)
Net current assets
29,170,439
27,042,258
Creditors: amounts falling due after more than one year
6
(29,188,529)
(27,055,313)
Net liabilities
(18,090)
(13,055)
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
(18,100)
(13,065)
Total equity
(18,090)
(13,055)
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 4 March 2025 and are signed on its behalf by:
P G Lewis
Director
Company registration number 10658465 (England and Wales)
39 FITZJOHNS AVENUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
39 Fitzjohns Avenue Limited is a private company limited by shares incorporated in England and Wales. The registered office is 100 Marylebone Road, London, United Kingdom, NW1 5DX.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Stocks
Work in progress is valued at the lower of cost and net realisable value.
Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
39 FITZJOHNS AVENUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Stocks
2024
2023
£
£
Stocks
40,683,777
37,844,584
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,867
Other debtors
7,119
12,543
7,119
21,410
39 FITZJOHNS AVENUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
55,347
71,325
Other creditors
11,488,695
10,755,385
11,544,042
10,826,710
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
29,188,529
27,055,313
The loan due to Ki Finance S.A.R.L is secured by a fixed and floating charge on the assets of the company.
7
Related party transactions
As a wholly owned subsidiary, the company has taken advantage of the exemption to not disclose transactions and balances with its parent company.