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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 Compton House, 20A Selsdon Road, South Croydon, CR2 6PA. |
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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. 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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Rendering of Services
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| Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised. |
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Interest income
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| Interest income is recognised using the effective interest method. |
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Investment Properties
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Investment Properties are accounted for using the revaluation model and are checked for impairment annually.
The market value is as determined by the directors. There hasn't been any professional valuation carried out as the directors are of the opinion that it is not cost effective.
Other fixed assets are stated at cost less accumulated depreciation at the below rates: | | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | 15% reducing balance | | Equipment | 15% reducing balance | | Motor Cars | |
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Investments in subsidiaries, jointly controlled entities or associates
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| Investments in subsidiaries, jointly controlled entities or associates are accounted for at cost less provision for impairment. |
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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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(4) Critical accounting judgements and key sources of estimation uncertainty
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No judgement
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| No significant judgements or estimates have been made in preparation of these financial statements. |
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(5) Employees
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| During the year, the average number of employees including director was 4 (2024 : 4). |
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(6) Commitments, guarantees and contingencies
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Contingent Liabilities
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| There were no material contingent liabilities as at the year end date. |
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Capital Commitments
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| There were no material capital commitments as at the year end date. |
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(7) Related party transactions
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Other debtors in Note 11 includes loans of £265,513 (2024: £258,913) due from the company's wholly owned subsidiaries.
It also includes a loan of £29,220 (2024: £29,220) from a company in which the directors own a material and controlling interest.
Other Creditors in Note 13 includes a loan amount of £43,378 (2024: £49,392) from a wholly owned subsidiary. |
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(8) Fixed assets
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| Tangible
£ | Investments
£ | Investments
Property
£ | Totals
£ | | Cost | | | | | | As at 01 April 2024 | 750 | 446,432 | 1,300,000 | 1,747,182 | | As at 31 March 2025 | 750 | 446,432 | 1,300,000 | 1,747,182 | | Depreciation/Amortisation | | | | | | As at 01 April 2024 | 112 | - | - | 112 | | For the year | 96 | - | - | 96 | | As at 31 March 2025 | 208 | - | - | 208 | | Net book value | | | | | | As at 31 March 2025 | 542 | 446,432 | 1,300,000 | 1,746,974 | | As at 31 March 2024 | 638 | 446,432 | 1,300,000 | 1,747,070 |
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(9) Director's Loan Account
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| Other Creditors in Note 14 is made up of loans from the directors to the company of £155,239 (2024: £160,193). There is no agreement as to the repayment of these loans, except that they be free of any interest charges. |
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(10) Fixed Asset Investments
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Fixed Asset Investments in the Balance Sheet is made up of:
Investments in Subsidiaries: £300 (2024: £300)
Other lnvestments: £446,432 (2024: £396,128)
In the directors' opinion, the market value of investments included in Other Investments is higher than the book value in the accounts. |
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