Caseware UK (AP4) 2024.0.164 2024.0.164 2023-11-302023-11-301trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Rental2022-12-01false1falsefalse 08303966 2022-12-01 2023-11-30 08303966 2021-12-01 2022-11-30 08303966 2023-11-30 08303966 2022-11-30 08303966 c:Director1 2022-12-01 2023-11-30 08303966 d:FreeholdInvestmentProperty 2023-11-30 08303966 d:FreeholdInvestmentProperty 2022-11-30 08303966 d:CurrentFinancialInstruments 2023-11-30 08303966 d:CurrentFinancialInstruments 2022-11-30 08303966 d:Non-currentFinancialInstruments 2023-11-30 08303966 d:Non-currentFinancialInstruments 2022-11-30 08303966 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08303966 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08303966 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 08303966 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 08303966 d:RetainedEarningsAccumulatedLosses 2023-11-30 08303966 d:RetainedEarningsAccumulatedLosses 2022-11-30 08303966 c:FRS102 2022-12-01 2023-11-30 08303966 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08303966 c:FullAccounts 2022-12-01 2023-11-30 08303966 c:CompanyLimitedByGuarantee 2022-12-01 2023-11-30 08303966 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 08303966









7-10 CONNAUGHT PLACE LIMITED
(A company limited by guarantee)







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
7-10 CONNAUGHT PLACE LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 08303966

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
As restated 2022
Note
£
£

Fixed assets
  

Investment property
 4 
1
1

  
1
1

  

Creditors: amounts falling due within one year
 5 
(3,000)
(3,000)

Net current liabilities
  
 
 
(3,000)
 
 
(3,000)

Total assets less current liabilities
  
(2,999)
(2,999)

Creditors: amounts falling due after more than one year
 6 
(4,821,176)
(4,821,076)

  

Net liabilities
  
(4,824,175)
(4,824,075)


Capital and reserves
  

Profit and loss account
  
(4,824,175)
(4,824,075)

  
(4,824,175)
(4,824,075)


The director considers 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 director acknowledges his 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 statement of comprehensive income 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 on 9 June 2025.

J S Saggar
Director

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
7-10 CONNAUGHT PLACE LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

7-10 Connaught Place Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 8 Connaught Place, London, W2 2ET.
The principal activity of the company continued to be that of letting and operating of own or leased real estate.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, despite the company reporting net current liabilities of £3,000 (as restated 2022 - £3,000). The director notes that the company is trading adequately and has sufficient working capital and access to other finance in order to continue trading for a period of not less than 12 months from the Statement of financial position date. As such, the director believes that there are no significant uncertainties in his assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.

Page 2

 
7-10 CONNAUGHT PLACE LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.5

Investment property

Investment properties are held to earn rentals or for capital appreciation, or both. Investment properties are initially measured at cost. At each Statement of financial position date, properties are measured at fair value with changes in fair value recognised in the Statement of comprehensive income.

 
2.6

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.

Page 3

 
7-10 CONNAUGHT PLACE LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022 (as restated)
1



At 30 November 2023
1

The 2023 valuation has been made by the director, who is not a property professional, on an open market value for existing use basis. The investment properties are held at a market value of £1, as 999-year leases have been granted over the property as part of a wider enfranchisement strategy.






5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
3,000
3,000

3,000
3,000



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
4,821,176
4,821,076

4,821,176
4,821,076


Page 4

 
7-10 CONNAUGHT PLACE LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £9 towards the assets of the company in the event of liquidation.


8.


Controlling party

The company is controlled by J S Saggar by virtue of his sole directorship of a company that is limited by guarantee.


9.


Prior year restatement

The prior year accounts have been restated to reduce the market value of the investment properties to £1 as 999-year leases had been granted over the property in previous years. As a result of this restatement the net liabilities as at 1 December 2021 and 30 November 2022 have both increased by £4,820,475. There was no effect on the prior year Statement of comprehensive income as the leases were granted before 2021.

 
Page 5