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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 71-75 Shelton Street, London, England, WC2H 9JQ. |
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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, stated net of discounts and of Value Added Tax. 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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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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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) Related party transactions
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| Canza Ltd is related party by the virtue of having same directors and shareholders. The balance due to this related party was £100,000 as of 31 March 2025. |
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(6) Fixed assets
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| Investments
Property
£ | | Cost | | | As at 01 April 2024 | 398,896 | | Revaluation | (896) | | As at 31 March 2025 | 398,000 | | Depreciation/Amortisation | | | As at 31 March 2025 | - | | Net book value | | | As at 31 March 2025 | 398,000 | | As at 31 March 2024 | 398,896 |
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(7) Creditors > 1 year (Mortgage Loans)
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The sum of £135,081, provided by Paragon Mortgages, is secured by a first legal charge over the property known as 7 Barnsbury Gardens, Newport Pagnell, MK16 0PH.
The sum of £130,946, provided by Kensington Mortgages, is secured by a first legal charge over the property known as Flat 5, 1 Sussex Place, Slough, Berkshire, SL1 1NH. |
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(8) Investment Properties
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| These financial statements for the year ended 31 March 2025 have been prepared in accordance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. The property is measured at fair value under FRS 102, and fair value gains and losses are recognised in profit or loss. FRS 102 also requires deferred tax to be accounted for on assets that are subject to revaluation. Accordingly, a deferred tax liability of £170 was recognised at 31 March 2025 in line with the provisions of FRS 102. The loss on revaluation at 31 March 2025 has been charged to profit or loss and, after accounting for deferred tax, the effect on profit for the year ended 31 March 2025 is an increase in the loss of £726. |
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