Canute Road Apartments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12085085

Canute Road Apartments Limited

Filleted Unaudited Financial Statements

31 July 2024

Canute Road Apartments Limited

Statement of Financial Position

31 July 2024

	2024	2023
Note	£	£

Fixed assets

Investments	4	2,292,178	2,267,520

Current assets

Debtors	5	62,002	127,141
Cash at bank and in hand		4,228	1,770
		--------	---------
		66,230	128,911

Creditors: amounts falling due within one year	6	649,855	654,399
		---------	---------
Net current liabilities		583,625	525,488
		------------	------------
Total assets less current liabilities		1,708,553	1,742,032

Creditors: amounts falling due after more than one year	7	1,783,031	1,758,374
		------------	------------
Net liabilities		( 74,478)	( 16,342)
		------------	------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 74,479)	( 16,343)
	--------	--------
Shareholders deficit	( 74,478)	( 16,342)
	--------	--------

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 income and retained earnings has not been delivered.

For the year ending 31 July 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 .

Canute Road Apartments Limited

Statement of Financial Position (continued)

31 July 2024

These financial statements were approved by the board of directors and authorised for issue on 1 September 2025 , and are signed on behalf of the board by:

Mr J D Ondhia
Director

Company registration number: 12085085

Canute Road Apartments Limited

Notes to the Financial Statements

Year ended 31 July 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 1a Adamson Road, London, NW3 3HX, England.

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.

Going concern

In the opinion of the directors, continued financial support will be available such that the company can continue trading and meet it's liabilities as they fall due. Based on this, the directors consider it appropriate that the financial statements are prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments

	Other investments other than loans
	£
Cost
At 1 August 2023	2,267,520
Additions	24,658
	------------
At 31 July 2024	2,292,178
	------------
Impairment
At 1 August 2023 and 31 July 2024	–
	------------

Carrying amount
At 31 July 2024	2,292,178
	------------
At 31 July 2023	2,267,520
	------------

5. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	62,001	127,140
Other debtors	1	1
	--------	---------
	62,002	127,141
	--------	---------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	13,795	18,339
Other creditors	636,060	636,060
	---------	---------
	649,855	654,399
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	1,783,031	1,758,374
	------------	------------

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Shojin Property Partners Limited	62,001	77,161	15,160	127,140
Swinton Street Studios LLP	4,365	(633,987)	( 13,975)	( 18,340)
	--------	---------	--------	---------

Mr J Ondhia is a director and shareholder of Retropark Limited and Shojin Capital Limited,both of which are corporate members of Swinton Street Studios LLP. Mr J Ondhia is a director and shareholder of Shojin Property Partners Limited. My J Ondhia has provided personal guarantee against the bank loans secured on the investment properties.