Company registration number 13599076 (England and Wales)
DOWNSWAY SSB (1) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
DOWNSWAY SSB (1) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DOWNSWAY SSB (1) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
2
2,430,000
2,430,000
Current assets
Debtors
3
106,110
101,100
Cash at bank and in hand
369
66,144
106,479
167,244
Creditors: amounts falling due within one year
4
(1,097,253)
(1,218,083)
Net current liabilities
(990,774)
(1,050,839)
Total assets less current liabilities
1,439,226
1,379,161
Creditors: amounts falling due after more than one year
5
(1,545,000)
(1,442,190)
Net liabilities
(105,774)
(63,029)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(105,775)
(63,030)
Total equity
(105,774)
(63,029)

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 10 September 2025
Mr B Thakrar
Director
Company registration number 13599076 (England and Wales)
DOWNSWAY SSB (1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Downsway SSB (1) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Argyle House 3rd Floor, Joel Street, Nothwood Hills, Middlesex, United Kingdom, HA6 1NW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represent rental income and is shown net of VAT and other sales related taxes.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

DOWNSWAY SSB (1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
2,430,000
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
6,901
3,100
Other debtors
99,209
98,000
106,110
101,100
4
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
28,800
Other creditors
1,097,253
1,189,283
1,097,253
1,218,083
DOWNSWAY SSB (1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
5
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,545,000
1,442,190

The bank loans are secured by a fixed charge over the leasehold and by a debenture over the other assets of the company. The loan is subject to commercial rates of interest. There is a guarantee between other companies of the group supported by the debentures.

6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
7
Related party transactions

At the year end the balance owed to the parent company and fellow subsidiaries was £1,077,100 (202 4: £1,1 86,14 4). These loans are interest free and repayable on demand.

8
Parent company

The parent company of Downsway SSB (1) Limited is Croydon Five Ltd and its registered office is Argyle House, 3rd Floor Northside, Joel Street, Northwood Hills, England, HA6 1NW.

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