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REGISTERED NUMBER: 03612565 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

12 CHARLES STREET (FREEHOLD) LIMITED

12 CHARLES STREET (FREEHOLD) LIMITED (REGISTERED NUMBER: 03612565)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


12 CHARLES STREET (FREEHOLD) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Miss T Madhvani
D B Mahmood
Shawdale Ltd
Ms L R Ranger





SECRETARY: F S Secretarial Limited





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 03612565 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

12 CHARLES STREET (FREEHOLD) LIMITED (REGISTERED NUMBER: 03612565)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 18,065 18,062
Cash at bank 76,522 70,430
94,587 88,492
CREDITORS
Amounts falling due within one year 7,760 4,872
NET CURRENT ASSETS 86,827 83,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

86,827

83,620

CAPITAL AND RESERVES
Called up share capital 11 11
Retained earnings 86,816 83,609
SHAREHOLDERS' FUNDS 86,827 83,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:



Miss T Madhvani - Director



Ms R Al Juffali - Director


12 CHARLES STREET (FREEHOLD) LIMITED (REGISTERED NUMBER: 03612565)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

12 Charles Street (Freehold) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible fixed assets
On 6 January 1999 the company acquired the freehold interest in the property known as 12 Charles Street and 10 Hays Mews London W1 for the sum of £1,158,111 including legal costs subject to and with the benefit of a head lease. The cost of acquisition was financed by loan notes from sub-lessees who each accepted an extension of their lease to 999 years at a peppercorn rent in lieu of repayment of their loan. The net cost of the freehold property is included in the accounts at £nil as follows:-

£

Cost of freehold property 1,158,111

Less: Loans to the company waived following lease extensions granted 1,158,111
-

12 CHARLES STREET (FREEHOLD) LIMITED (REGISTERED NUMBER: 03612565)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 18,065 18,062