COMPANY REGISTRATION NUMBER:
14441584
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
Current assets
|
Debtors |
6 |
30,000 |
|
30,000 |
|
|
Cash at bank and in hand |
19,928 |
|
– |
|
|
-------- |
|
-------- |
|
|
49,928 |
|
30,000 |
|
|
-------- |
|
-------- |
|
|
Net current assets |
|
49,928 |
|
30,000 |
|
|
-------- |
|
-------- |
|
Total assets less current liabilities |
|
50,062 |
|
30,134 |
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
48,000 |
|
28,000 |
|
|
-------- |
|
-------- |
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Net assets |
|
2,062 |
|
2,134 |
|
|
-------- |
|
-------- |
|
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
134 |
|
134 |
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Profit and loss account |
|
1,928 |
|
2,000 |
|
|
------- |
|
------- |
|
Shareholders funds |
|
2,062 |
|
2,134 |
|
|
------- |
|
------- |
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|
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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 income statement 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Statement of Financial Position (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
8 September 2025
, and are signed on behalf of the board by:
|
Mrs S Cartwright |
|
|
Director |
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|
|
Company registration number:
14441584
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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 Fulford Lodge, 1 Heslington Lane, Fulford, York, North Yorkshire, YO10 4HW.
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
(a)
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.
(b)
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.
(c)
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(d)
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
(e)
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
(f)
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
(g)
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year, including directors, amounted to 1 (2023: 1).
5.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
134 |
|
---- |
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Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
---- |
|
|
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Carrying amount |
|
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At 31 December 2024 |
134 |
|
---- |
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At 31 December 2023 |
134 |
|
---- |
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|
The investments of £134 consists of 100 £1 shares in Varsity Builders Limited, 33 £1 shares in Northmount Limited and 1 £1 share in Portward Limited.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Varsity Builders Limited |
30,000 |
30,000 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Portward Limited |
27,000 |
7,000 |
|
Northmount Limited |
21,000
|
21,000
|
|
-------- |
-------- |
|
48,000 |
28,000 |
|
-------- |
-------- |
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8.
Related party transactions
The company is the holding company of Portward Limited, Northmount Limited and Varsity Builders Limited and acquired 100% of the shares in those companies on 24 November 2022. During the period the director made available loans to Varsity Builders Limited, Portward Limited and Northmount Limited, companies owned by
Varsity Holdings Limited
. The loans are interest free and repayable on demand. At the period end date the balance due from Varsity Builders Limited
totalled £ 30,000
(2023: £ 30,000
), the balance due to Portward Limited
totalled £ 27,000
(2023: £ 7,000
) and the balance due to Northmount Limited
totalled £ 21,000
(2023: £ 21,000
).