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(1) General Information
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| The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Dns House, Kenton Road, Harrow, HA3 8DP. |
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(2) Statement of compliance
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| These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime. |
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(3) Significant Accounting Policies
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Basis of Preparation
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| The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Revenue recognition
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| 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. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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Sale of goods
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| Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them. |
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Borrowing costs
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| All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method. |
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Taxation
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| Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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Current Tax
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| The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
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(4) Employees
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| During the year, the average number of employees including director was 0 (2024 : 0). |
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(5) Directors advances, credit and guarantees
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| Mr Luke Negal has advanced interest free loan amount of £420,059 to the company at the year-end which is repayable on demand. (2024: £429,965) |
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(6) Fixed assets
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| Tangible
£ | Investments
Property
£ | Totals
£ | | Cost | | | | | As at 01 April 2024 | 385,000 | 750,000 | 1,135,000 | | As at 31 March 2025 | 385,000 | 750,000 | 1,135,000 | | Depreciation/Amortisation | | | | | As at 31 March 2025 | - | - | - | | Net book value | | | | | As at 31 March 2025 | 385,000 | 750,000 | 1,135,000 | | As at 31 March 2024 | 385,000 | 750,000 | 1,135,000 |
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(7) Investment Properties
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| These financial statements for the year ended 30 November 2024 are the financial statements of the company prepared in accordance with FRS 102 1a "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The property is being measured at fair value under FRS 102 1a and there are no fair value gain or loss found during the year, hence no deferred tax accounted during the year. |
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(8) Creditors > 1 year (Mortgage Loans)
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| The mortgage loans are secured on the Investment property. |
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