COMPANY REGISTRATION NUMBER:
13094853
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2024
Current assets
|
Debtors |
6 |
2 |
4 |
|
Investments |
7 |
3,489,293 |
7,241,036 |
|
------------ |
------------ |
|
3,489,295 |
7,241,040 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
– |
2 |
|
------------ |
------------ |
|
Net current assets |
3,489,295 |
7,241,038 |
|
------------ |
------------ |
|
Total assets less current liabilities |
3,489,295 |
7,241,038 |
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
10 |
3,489,295 |
7,241,038 |
|
------------ |
------------ |
|
Shareholders funds |
3,489,295 |
7,241,038 |
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
13 August 2025
, and are signed on behalf of the board by:
Company registration number:
13094853
|
Notes to the Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Radnor Cliff, Folkestone, CT20 2JN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
4.
Other financial commitments
As at the reporting date the Company had no capital or other commitments or contracts for capital expenditure in place.
5.
Employee numbers
There are no contracts of employment in place with the directors or key management.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
2 |
4 |
|
---- |
---- |
|
|
|
7.
Investments
|
2024 |
2023 |
|
£ |
£ |
|
Investments in group undertakings |
3,489,293 |
7,241,036 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Other creditors |
– |
2 |
|
---- |
---- |
|
|
|
9.
Financial instruments
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
10.
Called up share capital
In the prior year the company had 7,241,038 ordinary shares with a nominal value of £1.00 each. On 11th Jan 2024 the ordinary share capital was subdivided into 72,410,380 ordinary shares of £0.10 each and the company then undertook a capital reduction, extinguishing 37,517,430 and leaving 34,892,950 ordinary shares of £0.10 each.
The shares have attached to them full rights regarding voting and rank equally in respect of payment of dividends and distribution (including on winding up).
11.
Related party transactions
During the year the company transferred the entire issued share capital of SLC Financial Ltd to JJ Property Kent Ltd. During the year the company transferred the entire issued share capital of JLC Financial Ltd to Springwood Financial Ltd. No further transactions with related parties were undertaken such as is required to be disclosed under the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
12.
Controlling party
Since incorporation the company was under the joint control of Mrs J &
Mr S Cullen
. From 2nd May 2024 control was transferred to Mr S Cullen
as sole director and shareholder.