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REGISTERED NUMBER: 04144070 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

38 BANK STREET LIMITED

38 BANK STREET LIMITED (REGISTERED NUMBER: 04144070)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

38 BANK STREET LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: S B Morgan
Mrs V J Fox
Mrs E L T F Morgan





REGISTERED OFFICE: 2 Oakfield Road
Clifton
Bristol
BS8 2AL





REGISTERED NUMBER: 04144070 (England and Wales)





ACCOUNTANTS: PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL

38 BANK STREET LIMITED (REGISTERED NUMBER: 04144070)

BALANCE SHEET
31 JANUARY 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 575,000 800,000

CURRENT ASSETS
Debtors 5 3,302 2,071
Cash at bank 2,396 20,760
5,698 22,831
CREDITORS
Amounts falling due within one year 6 13,517 21,002
NET CURRENT (LIABILITIES)/ASSETS (7,819 ) 1,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

567,181

801,829

CAPITAL AND RESERVES
Called up share capital 6 6
Fair value reserve 7 - 47,918
Retained earnings 567,175 753,905
567,181 801,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

38 BANK STREET LIMITED (REGISTERED NUMBER: 04144070)

BALANCE SHEET - continued
31 JANUARY 2025


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

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 13 August 2025 and were signed on its behalf by:





S B Morgan - Director


38 BANK STREET LIMITED (REGISTERED NUMBER: 04144070)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

38 Bank Street 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.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

38 BANK STREET LIMITED (REGISTERED NUMBER: 04144070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024 800,000
Revaluations (225,000 )
At 31 January 2025 575,000
NET BOOK VALUE
At 31 January 2025 575,000
At 31 January 2024 800,000

The investment property is on lease to third parties. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors and shareholders of the company. They have determined that a revaluation to £575,000 is appropriate based on market factors and reversionary rent.

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2003 57,918
Valuation in 2010 440,000
Valuation in 2020 (450,000 )
Valuation in 2025 (225,000 )
Cost 752,082
575,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
VAT 1,116 -
Prepayments and accrued income 2,186 2,071
3,302 2,071

38 BANK STREET LIMITED (REGISTERED NUMBER: 04144070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Other loans 3,500 -
Tax 200 12,219
Directors' loan accounts 7,000 -
Accruals and deferred income 2,817 8,783
13,517 21,002

7. RESERVES
Fair
value
reserve
£   
At 1 February 2024 47,918
Transfers (47,918 )

At 31 January 2025 -

The fair value reserve is representative of the net of the revaluation of the investment property, being £nil (2024: £47,918), less the deferred tax liability arising on the investment property, being £0 (2024: £0).

8. ULTIMATE CONTROLLING PARTY

The company was under the control of the Board of directors during the current and previous year, by virtue of their joint majority shareholding.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
38 BANK STREET LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 38 Bank Street Limited for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of 38 Bank Street Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 38 Bank Street Limited and state those matters that we have agreed to state to the Board of Directors of 38 Bank Street Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 38 Bank Street Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that 38 Bank Street Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 38 Bank Street Limited. You consider that 38 Bank Street Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 38 Bank Street Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL


13 August 2025