| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st August 2024 |
| for |
| The Leicester One (Students) Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st August 2024 |
| for |
| The Leicester One (Students) Ltd |
| The Leicester One (Students) Ltd (Registered number: 13340406) |
| Contents of the Financial Statements |
| for the Year Ended 31st August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| The Leicester One (Students) Ltd |
| Company Information |
| for the Year Ended 31st August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 54 Newberries Avenue |
| Radlett |
| WD7 7EP |
| The Leicester One (Students) Ltd (Registered number: 13340406) |
| Balance Sheet |
| 31st August 2024 |
| 31/8/24 | 31/8/23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| The director acknowledges his 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 Leicester One (Students) Ltd (Registered number: 13340406) |
| Balance Sheet - continued |
| 31st August 2024 |
| The financial statements were approved by the director and authorised for issue on |
| The Leicester One (Students) Ltd (Registered number: 13340406) |
| Notes to the Financial Statements |
| for the Year Ended 31st August 2024 |
| 1. | STATUTORY INFORMATION |
| The Leicester One (Students) Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The Director has undertaken a thorough assessment of the company’s financial position and its ability to continue as a going concern. This assessment has considered various relevant factors, including recent trading performance, financial forecasts, projected cash flows, and the availability of financial resources. |
| Based on this review, the Director has a reasonable expectation that the company has adequate resources to meet its liabilities as they fall due and to continue in operational existence for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements. |
| Accordingly, these financial statements have been prepared on a going concern basis. This assumes that the company will continue to operate and that assets and liabilities will be realised and discharged in the normal course of business. |
| Preparation of consolidated financial statements |
| The company is a subsidiary undertaking of Central Leicester Limited. The smallest and largest group of undertakings for which group accounts are not prepared and of which the company is a member is headed by London Bridging Finance Limited. |
| London Bridging Finance Limited is a private company incorporated in the United Kingdom. Consolidated financial statements have not been prepared for the year as the group qualifies as a small group under the provisions of section 383 of the Companies Act 2006, and the parent company has taken advantage of the exemption under section 399 of that Act. |
| Accordingly, the company has not been included in any consolidated financial statements for the year ended 31 August 2024. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| The Leicester One (Students) Ltd (Registered number: 13340406) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Long |
| leasehold |
| £ |
| COST |
| Additions |
| At 31st August 2024 |
| DEPRECIATION |
| Charge for year |
| At 31st August 2024 |
| NET BOOK VALUE |
| At 31st August 2024 |
| The Leicester One (Students) Ltd (Registered number: 13340406) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/24 | 31/8/23 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/24 | 31/8/23 |
| £ | £ |
| Amounts owed to group undertakings |
| Other creditors |
| 7. | OFF-BALANCE SHEET ARRANGEMENTS |
| The company has granted a legal charge over its property as security for a bank loan held by its parent company, Central Leicester Limited. The company has entered into a cross-guarantee arrangement with Central Leicester Limited in respect of the loan. The facility is also supported by a personal guarantee provided by a director of the parent company. |
| From September 2023, pursuant to internal group arrangements, the company has assumed responsibility for servicing the interest payments on the bank loan, although the loan remains legally in the name of the parent company. |
| 8. | RELATED PARTY DISCLOSURES |
| The company is a wholly owned subsidiary of Central Leicester Limited, a company incorporated in the United Kingdom. The ultimate parent company is London Bridging Finance Limited, also incorporated in the United Kingdom. Neither the immediate parent nor the ultimate parent prepares consolidated financial statements for the group. As such, the company has not been included in consolidated financial statements for the financial year. |
| During the year, the company purchased a leasehold property from its immediate parent, Central Leicester Limited, for a total consideration of £6,500,000. The transaction was conducted at an agreed valuation between the parties and completed via an intercompany financing arrangement. |
| At the balance sheet date, the amount outstanding to Central Leicester Limited was £6,750,162 (2024: £nil). |
| The directors consider that all transactions with related parties were undertaken on terms equivalent to those that would prevail in an arm’s length transaction, unless otherwise stated. |