COMPANY REGISTRATION NUMBER:
13801680
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Filleted Unaudited Abridged Financial Statements |
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|
Abridged Financial Statements |
|
Year ended 31 December 2024
|
Abridged statement of financial position |
1 |
|
|
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Notes to the abridged financial statements |
3 |
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Abridged Statement of Financial Position |
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31 December 2024
Fixed assets
|
Tangible assets |
5 |
1,145,185 |
1,112,222 |
|
|
|
|
Current assets
|
Debtors |
176 |
167 |
|
Cash at bank and in hand |
90,146 |
52,647 |
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-------- |
-------- |
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90,322 |
52,814 |
|
|
|
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Creditors: amounts falling due within one year |
370,840 |
362,938 |
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--------- |
--------- |
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Net current liabilities |
280,518 |
310,124 |
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------------ |
------------ |
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Total assets less current liabilities |
864,667 |
802,098 |
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|
|
|
Creditors: amounts falling due after more than one year |
6 |
769,972 |
769,972 |
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|
|
|
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Provisions |
6,298 |
– |
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--------- |
--------- |
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Net assets |
88,397 |
32,126 |
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--------- |
--------- |
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|
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Capital and reserves
|
Called up share capital |
90 |
90 |
|
Other reserves |
26,849 |
– |
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Profit and loss account |
61,458 |
32,036 |
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-------- |
-------- |
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Shareholders funds |
88,397 |
32,126 |
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-------- |
-------- |
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These abridged 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 abridged 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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
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Abridged Statement of Financial Position (continued) |
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31 December 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 September 2025
, and are signed on behalf of the board by:
Company registration number:
13801680
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Notes to the Abridged 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 Gables House, 62 Kenilworth Road, Leamington Spa, CV32 6JX, England.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represent amounts invoiced and accrued in the period in relation to rental income.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fixtures and fittings |
- |
25% straight line |
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Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
Excluding the directors the company has no employees.
5.
Tangible assets
|
£ |
|
Cost or valuation |
|
|
At 1 January 2024 |
1,112,591 |
|
Revaluations |
33,147 |
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------------ |
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At 31 December 2024 |
1,145,738 |
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------------ |
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Depreciation |
|
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At 1 January 2024 |
369 |
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Charge for the year |
184 |
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------------ |
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At 31 December 2024 |
553 |
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------------ |
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Carrying amount |
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At 31 December 2024 |
1,145,185 |
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------------ |
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At 31 December 2023 |
1,112,222 |
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------------ |
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Included within the above is investment property as follows:
|
£ |
|
At 1 January 2024 |
1,111,853 |
|
Fair value adjustments |
33,147 |
|
------------ |
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At 31 December 2024 |
1,145,000 |
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------------ |
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Investment property was valued at the balance sheet date by the directors using the open market value. Had the properties not been revalued, they would have been shown with an aggregate historic cost of £1,111,853.
6.
Creditors:
amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £769,972 (2023: £769,972) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
The loans are interest only and secured with charges over the investment property.
7.
Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
|
2024 |
2023 |
|
£ |
£ |
|
Reclassification from fair value reserve to profit and loss account |
26,849 |
– |
|
-------- |
---- |
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At end of year |
26,849 |
– |
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-------- |
---- |
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8.
Related party transactions
At the balance sheet date the company owed the directors £360,727 (2023: £355,718). This loan is interest free with no fixed repayment terms. The directors hold certain assets and liabilities on absolute trust for the company.