REGISTERED NUMBER: 08578850 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

AREA RESIDENTIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C R Ritchie

REGISTERED OFFICE:

313 Dyke Road

Hove

East Sussex

BN3 6PE

REGISTERED NUMBER:

08578850 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Investment property

4

386,000

346,000

CURRENT ASSETS

Debtors

5

1,089,834

1,086,547

Cash at bank

53,403

57,410

1,143,237

1,143,957

CREDITORS

Amounts falling due within one year

6

(811,251

)

(811,530

)

NET CURRENT ASSETS

331,986

332,427

TOTAL ASSETS LESS CURRENT LIABILITIES

717,986

678,427

CREDITORS

Amounts falling due after more than one year

7

(129,675

)

(129,675

)

PROVISIONS FOR LIABILITIES

9

(57,456

)

(47,456

)

NET ASSETS

530,855

501,296

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

182,194

152,194

Retained earnings

348,561

349,002

530,855

501,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 December 2025 and were signed by:

C R Ritchie - Director

1.	STATUTORY INFORMATION

Area Residential 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, stated net of discounts and value added tax.

Turnover is recognised in the period which the sale occurs and is comprised of proceeds from re-sale of developed properties.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with members within the group.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.

EMPLOYEES

The average number of employees during the year was NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

346,000

Revaluations

40,000

At 31 March 2025

386,000

NET BOOK VALUE

At 31 March 2025

386,000

At 31 March 2024

346,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2019

138,650

Valuation in 2021

15,000

Valuation in 2022

15,000

Valuation in 2023

27,000

Valuation in 2025

40,000

Cost

150,350

386,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

150,350

150,350

Investment property was valued on an open market basis on 31 March 2025 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

1,622

Amounts owed by group undertakings

1,081,194

1,075,141

Directors' loan accounts

620

620

Accrued income

800

900

Prepayments

7,220

8,264

1,089,834

1,086,547

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,311

3,047

Amounts owed to group undertakings

667,865

669,409

Amounts owed to associates

136,736

136,736

Accrued expenses

2,339

2,338

811,251

811,530

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans more 5 yr by instal

129,675

129,675

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

129,675

129,675

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

129,675

129,675

Bank loans were secured by fixed and floating charges over assets owned by the company.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Other timing differences

57,456

47,456

Deferred

tax

£

Balance at 1 April 2024

47,456

Charge to Income Statement during year

10,000

Balance at 31 March 2025

57,456

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Balance outstanding at start of the year

620

200

Amounts advanced

-

420

Amounts repaid

-

-

Balance outstanding at end of the year

620

620

These balances are included in debtors.

11.	RELATED PARTY DISCLOSURES

Companies under common control

Amoun t due from

Amoun t due to

£

£

Opening balance

100

136,736

Amounts advanced

-

-

Amounts repaid

-

-

Closing balance

100

136,736

These balances are included in debtors and creditors respectively.