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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, 382 Kenton Road, Harrow, Middlesex, United Kingdom, 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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Rental income
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| Rental income from operating leases are recognised on a straight-line basis over the term of the relevant lease. Rental Income is included within other income from fixed assets. |
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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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Property, plant and equipment
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Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.
Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
| | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | 25% reducing balance | | Equipment | | | Motor Cars | |
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Financial instruments
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The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings.
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value. |
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Loans and borrowings
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| These are initially recognised at fair value, based upon the nominal amount outstanding. Subsequent to initial recognition, they are recorded at amortised cost. Borrowing costs arising on bank borrowings are expensed as incurred within financial expense using the effective interest method. |
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Effective interest method
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| The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or where appropriate a shorter period, to the net carrying amount on initial recognition. |
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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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Deferred Tax
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A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
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Investments
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| Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognized in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an ongoing basis. |
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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) Fixed assets
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| Tangible
£ | Investments
Property
£ | Totals
£ | | Cost | | | | | As at 01 August 2024 | 1,871 | 264,000 | 265,871 | | Revaluation | - | (5,000) | (5,000) | | As at 31 July 2025 | 1,871 | 259,000 | 260,871 | | Depreciation/Amortisation | | | | | As at 01 August 2024 | 1,427 | - | 1,427 | | For the year | 111 | - | 111 | | As at 31 July 2025 | 1,538 | - | 1,538 | | Net book value | | | | | As at 31 July 2025 | 333 | 259,000 | 259,333 | | As at 31 July 2024 | 444 | 264,000 | 264,444 |
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(6) Investment properties revaluation
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These financial statements for the year ended 31st July 2025 are the financial statements of the company prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The property is being measured at fair value under FRS 102 and fair value gains and losses are reported in profit or loss.
FRS 102 also requires deferred tax to be accounted for on assets that are subject to revaluation. Consequently, deferred tax of £950 was recognised at 31st July 2025 to reflect the provisions of FRS 102.
The loss on revaluation at 31st July 2025 has been reported in profit or loss and the effect on profit for the year ended 31st July 2025 is decrease in the profit for the amount £4,050 is after deferred tax. |
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(7) Creditors > 1 year (Bank loans)
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| The mortgage loan is secured on the property "23 Nursery Close, Swanley, Kent BR8 7HÐ. |
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