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Company Registration No. 14548090 (England and Wales)
42 The Esplanade Ltd Unaudited accounts for the year ended 31 December 2024
42 The Esplanade Ltd Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
42 The Esplanade Ltd Company Information for the year ended 31 December 2024
Directors
Christopher John Henry Christopher Paton
Company Number
14548090 (England and Wales)
Registered Office
40 WARTON TERRACE NEWCASTLE UPON TYNE TYNE AND WEAR NE6 5LS ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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42 The Esplanade Ltd Accountants' report
Accountants' report to the board of directors of 42 The Esplanade Ltd on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 42 The Esplanade Ltd for the year ended 31 December 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of 42 The Esplanade Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of 42 The Esplanade Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 42 The Esplanade Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 42 The Esplanade Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 42 The Esplanade Ltd. You consider that 42 The Esplanade Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of 42 The Esplanade Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 26 June 2025
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42 The Esplanade Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
700,000 
576,390 
Current assets
Debtors
5
682 
388 
Cash at bank and in hand
3,349 
11,372 
4,031 
11,760 
Creditors: amounts falling due within one year
6
(36,931)
(25,486)
Net current liabilities
(32,900)
(13,726)
Total assets less current liabilities
667,100 
562,664 
Creditors: amounts falling due after more than one year
7
(652,455)
(650,642)
Provisions for liabilities
Deferred tax
8
(3,685)
- 
Net assets/(liabilities)
10,960 
(87,978)
Capital and reserves
Called up share capital
12 
12 
Revaluation reserve
85,895 
- 
Profit and loss account
(74,947)
(87,990)
Shareholders' funds
10,960 
(87,978)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by
Christopher John Henry Director Company Registration No. 14548090
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42 The Esplanade Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
42 The Esplanade Ltd is a private company, limited by shares, registered in England and Wales, registration number 14548090. The registered office is 40 WARTON TERRACE, NEWCASTLE UPON TYNE, TYNE AND WEAR, NE6 5LS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0%
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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42 The Esplanade Ltd Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At valuation 
At 1 January 2024
576,390 
Additions
9,083 
Revaluations
114,527 
At 31 December 2024
700,000 
Depreciation
At 31 December 2024
- 
Net book value
At 31 December 2024
700,000 
At 31 December 2023
576,390 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
682 
388 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
3,681 
- 
Amounts owed to group undertakings and other participating interests
12,524 
8,096 
Other creditors
19,656 
16,320 
Loans from directors
50 
50 
Accruals
1,020 
1,020 
36,931 
25,486 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
3,047 
- 
Other creditors
649,408 
650,642 
652,455 
650,642 
Included in long term creditors is a SSAS loan secured on the investment property. A personal guarantee has been provided.
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42 The Esplanade Ltd Notes to the Accounts for the year ended 31 December 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of land and buildings
28,632 
- 
Tax losses carried forward
(24,947)
- 
3,685 
- 
2024 
2023 
£ 
£ 
Charged to the profit and loss account
3,685 
- 
Provision at end of year
3,685 
- 
9
Controlling party
Aspire Group Holdings Ltd 40 Warton Terrace Newcastle upon Tyne Tyne and Wear NE6 5LS England
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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