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Company No: 12880792 (England and Wales)

30 COMMERCE ROAD LIMITED

Unaudited Financial Statements
For the financial period from 01 October 2023 to 31 December 2024
Pages for filing with the registrar

30 COMMERCE ROAD LIMITED

Unaudited Financial Statements

For the financial period from 01 October 2023 to 31 December 2024

Contents

30 COMMERCE ROAD LIMITED

COMPANY INFORMATION

For the financial period from 01 October 2023 to 31 December 2024
30 COMMERCE ROAD LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 October 2023 to 31 December 2024
DIRECTORS J Carson
B Carson
L Carson
REGISTERED OFFICE 35 Ballards Lane
London
N3 1XW
United Kingdom
COMPANY NUMBER 12880792 (England and Wales)
ACCOUNTANTS Berg Kaprow Lewis LLP
35 Ballards Lane
London
N3 1XW
30 COMMERCE ROAD LIMITED

BALANCE SHEET

As at 31 December 2024
30 COMMERCE ROAD LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 30.09.2023
£ £
Fixed assets
Investment property 4 266,635 266,635
266,635 266,635
Current assets
Debtors 5 20,191 12,355
Cash at bank and in hand 6 612 6,217
20,803 18,572
Creditors: amounts falling due within one year 7 ( 280,160) ( 282,816)
Net current liabilities (259,357) (264,244)
Total assets less current liabilities 7,278 2,391
Net assets 7,278 2,391
Capital and reserves
Called-up share capital 300 300
Profit and loss account 6,978 2,091
Total shareholders' funds 7,278 2,391

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of 30 Commerce Road Limited (registered number: 12880792) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Jamie Anthony Carson
Director

26 March 2025

30 COMMERCE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2023 to 31 December 2024
30 COMMERCE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2023 to 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

30 Commerce Road Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The accounts have been prepared for the 16th Month period to 31 December 2024. The previous period was for the year to 31st August 2023. This was due to bringing the company's year-end in line with the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Leases


The company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

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 Income and Retained Earnings/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.

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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

Period from
01.10.2023 to
31.12.2024
Year ended
30.09.2023
Number Number
Monthly average number of persons employed by the company during the period, including directors 3 3

4. Investment property

Investment property
£
Valuation
As at 01 October 2023 266,635
As at 31 December 2024 266,635

5. Debtors

31.12.2024 30.09.2023
£ £
VAT recoverable 743 0
Other debtors 19,448 12,355
20,191 12,355

6. Cash and cash equivalents

31.12.2024 30.09.2023
£ £
Cash at bank and in hand 612 6,217

7. Creditors: amounts falling due within one year

31.12.2024 30.09.2023
£ £
Trade creditors 0 481
Accruals 2,101 4,645
Taxation and social security 1,199 1,055
Other creditors 276,860 276,635
280,160 282,816

8. Related party transactions

Other related party transactions

31.12.2024 30.09.2023
£ £
Amounts owed to other related parties 276,860 276,635
Amounts due from other related parties 19,448 12,355

During the period the company entered into the following transactions with related parties:
Rent received from other related parties - £6,250 (2023: £5,000)