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Registered number: 11864069
BLACKFRIARS ROAD PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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BLACKFRIARS ROAD PROPERTIES LIMITED
REGISTERED NUMBER: 11864069
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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BLACKFRIARS ROAD PROPERTIES LIMITED
REGISTERED NUMBER: 11864069
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 5 form part of these financial statements.
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BLACKFRIARS ROAD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Blackfriars Road Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis even though at the balance sheet date the company incurred a net loss of £110,274 (2023: £82,209). At 31 December 2024, the Company had net current liabilities of £9,456,690 (2023: £9,346,416).
The Director considers the going concern basis to be appropriate due to the fact that the controlling parties have agreed to provide financial support for the next 12 months as from the date of the approval of the financial statements in order for the Company to meet its current liabilities.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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BLACKFRIARS ROAD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Freehold investment property
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The 2024 valuations were made by the director, on an open market value for existing use basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Amount owed by related parties
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Cash and cash equivalents
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BLACKFRIARS ROAD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Related party transactions
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During the year ended 31 December 2024, there have been no new transactions with the company's director, UBO or related parties. All outstanding balances, detailed below, have been brought forward.
At 31 December 2024, the balance owed to the company director, due to payments made towards the purchase of the property and payments of company administrative expenses, was £616,780 (2023: £836,780).
At 31 December 2024, the balance owed to the company's UBO, for the purchase of the company's property, was £9,757,349 (2023: £9,757,349).
At 31 December 2024, the Company had debtor balances with the following related parties (companies under common control):
- Stradella Ventures Limited: £2,308 (2023: £2,308).
- Oxford Street Properties Limited: £799 (2023: £799).
- Marylebone Commercial Buildings Limited: £375 (2023: £Nil).
- Thames Commercial Properties Limited: £375 (2023: £Nil)..
At 31 December 2024, the Company also had a debtor balance with its parent company, Rho Holding Limited, of £46,621 (2023: £12,582).
At the year end date, the Company also had a creditor balance with Ancona Capital Limited of £5,700 (2023: £5,700).
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The ultimate controlling party is Huseyn Mirhadiyev.
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