Silverfin false false 31/12/2024 01/01/2024 31/12/2024 R Bridge 29/11/2024 A C Hobden 29/11/2024 M A R Poulton 31/03/2025 11/12/2017 J C Shah 29/11/2024 S A M Judge 20/08/2024 18/10/2018 13 June 2025 The principal activity of the company in the year to 31 December 2024 was that of holding investment property. 11104556 2024-12-31 11104556 bus:Director1 2024-12-31 11104556 bus:Director2 2024-12-31 11104556 bus:Director3 2024-12-31 11104556 bus:Director4 2024-12-31 11104556 bus:Director5 2024-12-31 11104556 2023-12-31 11104556 core:CurrentFinancialInstruments 2024-12-31 11104556 core:CurrentFinancialInstruments 2023-12-31 11104556 core:Non-currentFinancialInstruments 2024-12-31 11104556 core:Non-currentFinancialInstruments 2023-12-31 11104556 core:ShareCapital 2024-12-31 11104556 core:ShareCapital 2023-12-31 11104556 core:RetainedEarningsAccumulatedLosses 2024-12-31 11104556 core:RetainedEarningsAccumulatedLosses 2023-12-31 11104556 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 11104556 core:InvestmentPropertyIncludedWithinPPE 2024-12-31 11104556 bus:OrdinaryShareClass1 2024-12-31 11104556 2024-01-01 2024-12-31 11104556 bus:FilletedAccounts 2024-01-01 2024-12-31 11104556 bus:SmallEntities 2024-01-01 2024-12-31 11104556 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11104556 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11104556 bus:Director1 2024-01-01 2024-12-31 11104556 bus:Director2 2024-01-01 2024-12-31 11104556 bus:Director3 2024-01-01 2024-12-31 11104556 bus:Director4 2024-01-01 2024-12-31 11104556 bus:Director5 2024-01-01 2024-12-31 11104556 2023-01-01 2023-12-31 11104556 core:InvestmentPropertyIncludedWithinPPE 2024-01-01 2024-12-31 11104556 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 11104556 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 11104556 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11104556 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11104556 (England and Wales)

21 LUSHINGTON ROAD LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

21 LUSHINGTON ROAD LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

21 LUSHINGTON ROAD LIMITED

BALANCE SHEET

As at 31 December 2024
21 LUSHINGTON ROAD LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 440,000 436,708
440,000 436,708
Current assets
Debtors 4 35 35
Cash at bank and in hand 1,904 1,714
1,939 1,749
Creditors: amounts falling due within one year 5 ( 27,974) ( 28,976)
Net current liabilities (26,035) (27,227)
Total assets less current liabilities 413,965 409,481
Creditors: amounts falling due after more than one year 6 ( 261,408) ( 277,635)
Net assets 152,557 131,846
Capital and reserves
Called-up share capital 7 35 35
Profit and loss account 152,522 131,811
Total shareholders' funds 152,557 131,846

For the financial year 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:

The financial statements of 21 Lushington Road Limited (registered number: 11104556) were approved and authorised for issue by the Board of Directors on 13 June 2025. They were signed on its behalf by:

R Bridge
Director
21 LUSHINGTON ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
21 LUSHINGTON ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

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

General information and basis of accounting

21 Lushington 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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, 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 £.

Turnover

Turnover represents amounts chargeable in respect of rents receivable on an accruals basis.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Investment property not depreciated
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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Investment property Total
£ £
Cost
At 01 January 2024 436,708 436,708
Revaluations 3,292 3,292
At 31 December 2024 440,000 440,000
Accumulated depreciation
At 01 January 2024 0 0
At 31 December 2024 0 0
Net book value
At 31 December 2024 440,000 440,000
At 31 December 2023 436,708 436,708

Investment properties

The market value of the company's investment property was reviewed by Lawson Commercial on 28 May 2024 and was valued at £440,000. The basis of the valuation was open market value.

4. Debtors

2024 2023
£ £
Other debtors 35 35

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other loans 22,174 22,126
Accruals 1,700 1,650
Taxation and social security 4,100 5,200
27,974 28,976

The loan is secured over the investment property it relates to.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 261,408 277,635

The loan is secured over the investment property it relates to.

Included in the balance above are amounts due after 5 years of £192,741 (2023: £211,642)

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and not yet paid
35 ordinary shares of £ 1.00 each 35 35

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to LLP 283,582 299,761

The company received a facility from Stephen Rimmer LLP, a Limited Liability Partnership in which the Directors are Members, on 12 January 2018 amounting to £436,708. The purpose of the loan was to provide the company with funds to purchase the property in Lushington Road.

The LLP also set up a lease arrangement with the company to utilise part of the property as office space. The contractual term is agreed at 12 years and commenced on 24 June 2018 with annual rental of £30,000 payable on a quarterly basis by the LLP. The rental charge is partially offset by interest income via a separate facilities agreement which is payable by the company back to the LLP.

The net effect of the transactions was an amount owed to the LLP at the year-end of £283,582 (2023: £299,761).

9. Undistributable Reserve

Included within the profit and loss account are non-distributable reserves totalling £3,292.