| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| 1 BATTISON CRESCENT LTD |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| 1 BATTISON CRESCENT LTD |
| 1 BATTISON CRESCENT LTD (REGISTERED NUMBER: 13641025) |
| Contents of the Financial Statements |
| for the year ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| 1 BATTISON CRESCENT LTD |
| Company Information |
| for the year ended 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Global House |
| 303 Ballards Lane |
| London |
| N12 8NP |
| 1 BATTISON CRESCENT LTD (REGISTERED NUMBER: 13641025) |
| Statement of Financial Position |
| 30 September 2024 |
| 30/9/24 | 30/9/23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the Board of Directors and authorised for issue on |
| 1 BATTISON CRESCENT LTD (REGISTERED NUMBER: 13641025) |
| Notes to the Financial Statements |
| for the year ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| 1 Battison Crescent Ltd is a |
| 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 as modified by the revaluation of certain assets. |
| Turnover |
| Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis is measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or less in the period in which they arise. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| 1 BATTISON CRESCENT LTD (REGISTERED NUMBER: 13641025) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The directors have assessed the company’s ability to operate as a going concern for the 12 months from the date of signing the financial statements. |
| The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As part of their review, the directors have considered the likely impact of factors such as the current macroeconomic events. Accordingly, the company has continued to adopt the going concern basis of accounting in the preparation of these financial statements. |
| Cash and cash equivalent |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| Investment property includes purchased cost and improvement made during the year. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 1 BATTISON CRESCENT LTD (REGISTERED NUMBER: 13641025) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Bank loans and overdrafts (see note 7) |
| Trade creditors |
| Other creditors |
| Directors' current accounts | 3,723 | 10,210 |
| Accrued expenses |
| The loan is from the shareholders and interest is charged at the rate between 5% & 6% once the renovations have been completed.The loan is repayable on demand and it is not secured. |
| 7. | LOANS |
| An analysis of the maturity of loans is given below: |
| 30/9/24 | 30/9/23 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Other loans | 763,390 | 623,850 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30/9/24 | 30/9/23 |
| value: | £ | £ |
| ordinary shares class A | 1 | 100 | 100 |
| ordinary shares class B | 1 | 10 | 10 |
| 110 | 110 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 October 2023 | ( |
) |
| Profit for the year |
| Dividends | ( |
) |
| At 30 September 2024 | ( |
) |
| 10. | RELATED PARTY DISCLOSURES |
| The loan provided for the acquisition of the property and future refurbishment. It is lent by a combination of the shareholders. The directors are also connected by way of being shareholders in one of the lending companies. There is no security for the loan and it is charged rate of 5%. Interest is accrued until the refurbishment is finished and income commences to be derived. |
| 1 BATTISON CRESCENT LTD (REGISTERED NUMBER: 13641025) |
| Notes to the Financial Statements - continued |
| for the year ended 30 September 2024 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The director controls the company by virtue of his family's direct interest in the whole of the issued share capital. |