COMPANY REGISTRATION NUMBER:
12164667
|
Filleted Unaudited Financial Statements |
|
Year ended 31 December 2024
|
Statement of financial position |
1 |
|
|
|
Notes to the financial statements |
2 |
|
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
5 |
270,677 |
270,677 |
|
|
|
|
Current assets
|
Cash at bank and in hand |
10,203 |
15,628 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
21,574 |
8,081 |
|
-------- |
-------- |
|
Net current (liabilities)/assets |
(
11,371) |
7,547 |
|
--------- |
--------- |
|
Total assets less current liabilities |
259,306 |
278,224 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
277,672 |
294,155 |
|
--------- |
--------- |
|
Net liabilities |
(
18,366) |
(
15,931) |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
500 |
500 |
|
Profit and loss account |
(
18,866) |
(
16,431) |
|
-------- |
-------- |
|
Shareholders deficit |
(
18,366) |
(
15,931) |
|
-------- |
-------- |
|
|
|
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 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
4 September 2025
, and are signed on behalf of the board by:
Company registration number:
12164667
|
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 504 118 Southwark Bridge Road, London, SE1 0BQ, United Kingdom.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director will continue to support the company and believes that the company will generate a profit in future periods therefore the accounts have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Tangible assets
|
Freehold investment property |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
270,677 |
|
--------- |
|
Depreciation |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2024 |
270,677 |
|
--------- |
|
At 31 December 2023 |
270,677 |
|
--------- |
|
|
The 2024 Freehold investment property valuations were made by the director, on an open market value for existing use basis.
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
16,484 |
4,398 |
|
Other creditors |
5,090 |
3,683 |
|
-------- |
------- |
|
21,574 |
8,081 |
|
-------- |
------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
277,672 |
294,155 |
|
--------- |
--------- |
|
|
|
Certain bank loans totalling £270,333 are secured by way of a fixed charge over the company's investment property.
8.
Related party transactions
At the year end the company owed the director £2,015 (2023: £533).