COMPANY REGISTRATION NUMBER:
10819687
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2024
Current assets
Debtors |
4 |
247,060 |
|
245,601 |
Cash at bank and in hand |
272 |
|
226 |
|
---------- |
|
---------- |
|
247,332 |
|
245,827 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
2,034 |
|
2,777 |
|
---------- |
|
---------- |
Net current assets |
|
245,298 |
243,050 |
|
|
---------- |
---------- |
Total assets less current liabilities |
|
245,298 |
243,050 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
|
242,882 |
242,882 |
|
|
---------- |
---------- |
Net assets |
|
2,416 |
168 |
|
|
---------- |
---------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
2,415 |
167 |
|
|
------- |
---- |
Shareholder funds |
|
2,416 |
168 |
|
|
------- |
---- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 February 2025
, and are signed on behalf of the board by:
Company registration number:
10819687
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 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 168 Church Road, Hove, East Sussex, BN3 2DL.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the creditors and on funding from other external sources. If the company were unable to continue in operational existence for the foreseeable future, adjustment would have to be made to reduce the balance sheet values of the assets to their recoverable amounts, and to provide for further liabilities that might arise. The director believes that it is appropriate for the financial statements to be prepared on the going concern basis.
Revenue recognition
Turnover represents amounts invoiced, net of value added tax, derived from the company's principal activity. Rental income is recognised over the term of the lease on a straight-line basis. The aggregate cost of incentives is deducted from the rental income and allocated to the profit and loss account over the lease term or to the next review date, whichever is shorter. Sales income and asset management fees are recognised when the financial risks and rewards are transferred.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
5 |
– |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
235,039 |
233,704 |
Other debtors |
12,016 |
11,897 |
|
---------- |
---------- |
|
247,060 |
245,601 |
|
---------- |
---------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Corporation tax |
– |
743 |
Other creditors |
2,034 |
2,034 |
|
------- |
------- |
|
2,034 |
2,777 |
|
------- |
------- |
|
|
|
6.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
242,882 |
242,882 |
|
---------- |
---------- |
|
|
|
The bank loans are secured over the assets of the company.
7.
Controlling party
The company's parent company is Broxbourne Properties Ltd, a company incorporated in the UK.