| Adderstone (216 Com) Limited |
| Registered number: 12406738 |
| Balance Sheet |
| as at 31 March 2025 |
| Restated |
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
8,672,391 |
|
|
7,528,521 |
|
| Current assets |
| Debtors |
4 |
|
412,210 |
|
|
526,346 |
| Cash at bank and in hand |
|
|
366,734 |
|
|
425,435 |
|
|
|
778,944 |
|
|
951,781 |
|
| Creditors: amounts falling due within one year |
5 |
|
(853,248) |
|
|
(772,969) |
|
| Net current (liabilities)/assets |
|
|
|
(74,304) |
|
|
178,812 |
|
| Total assets less current liabilities |
|
|
|
8,598,087 |
|
|
7,707,333 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(4,868,538) |
|
|
(4,779,342) |
|
| Provisions for liabilities |
|
|
|
(959,061) |
|
|
(702,045) |
|
|
| Net assets |
|
|
|
2,770,488 |
|
|
2,225,946 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
2,770,487 |
|
|
2,225,945 |
|
| Shareholder's funds |
|
|
|
2,770,488 |
|
|
2,225,946 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| I R Baggett, Professor, BSc (Hons), PhD, MRICS, FRGS |
| Director |
| Approved by the board on 14 October 2025 |
|
| Adderstone (216 Com) Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities, net of discounts and value added taxes. Turnover includes revenue earned from the leasing of investment property. |
|
|
Investment properties |
|
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 the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
Investment |
Other |
| property |
investments |
Total |
| £ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2024 |
7,528,130 |
|
391 |
|
7,528,521 |
|
Additions |
195,447 |
|
- |
|
195,447 |
|
Fair value adjustment |
948,423 |
|
- |
|
948,423 |
|
|
At 31 March 2025 |
8,672,000 |
|
391 |
|
8,672,391 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
2025 |
|
2024 |
| £ |
£ |
|
|
|
|
|
|
4,863,637 |
|
4,668,190 |
|
|
|
|
|
|
|
|
|
|
The fair value of the investment property has been arrived at on the basis of the valuation carried out at 31 March 2025 by the directors. The valuation was made on an open market basis. |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
210,886 |
|
355,297 |
|
Other debtors |
201,324 |
|
171,049 |
|
|
|
|
|
|
412,210 |
|
526,346 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
Restated |
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
107,144 |
|
Trade creditors |
415,624 |
|
10,467 |
|
Amounts owed to group undertakings |
|
82,500 |
|
- |
|
Taxation and social security costs |
3,509 |
|
65,413 |
|
Other creditors |
351,615 |
|
589,945 |
|
|
|
|
|
|
853,248 |
|
772,969 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
Restated |
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
- |
|
3,857,140 |
|
Amounts owed to group undertakings |
|
4,868,538 |
|
922,202 |
|
|
|
|
|
|
4,868,538 |
|
4,779,342 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
- |
|
3,964,284 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by way of a first ranking debenture over the company's assets, and a legal charge over the relevant investment property. |
|
|
| 8 |
Related party transactions |
|
|
The company has taken advantage of the exemption under FRS 102 from disclosing transactions with other wholly owned members of Adderstone (200) Limited. |
|
|
| 9 |
Controlling party |
|
|
The immediate parent undertaking is Adderstone (200) Limited, a company incorporated in England & Wales.
The registered address of Adderstone (200) Limited is: Nelson House, The Felming, Burdon Terrace, Jesmond, Newcastle upon Tyne, NE2 3AE. |
|
|
| 10 |
Other information |
|
|
Adderstone (216 Com) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Nelson House, The Fleming |
|
Burdon Terrace, Jesmond |
|
Newcastle upon Tyne |
|
NE2 3AE |