ACCOUNTS - Final Accounts preparation

Registered number: 11660187

19 FIFE ROAD LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


19 FIFE ROAD LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 5


19 FIFE ROAD LIMITED REGISTERED NUMBER:11660187

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Stocks	4	4,915,876		4,679,694
Debtors: amounts falling due within one year	5	135,591		104,138
		5,051,467		4,783,832
Creditors: amounts falling due within one year	6	(5,401,342)		(5,127,873)
Net current liabilities			(349,875)		(344,041)
Total assets less current liabilities			(349,875)		(344,041)

Net liabilities			(349,875)		(344,041)

Capital and reserves
Called up share capital	7	2	2
Profit and loss account		(349,877)	(344,043)
		(349,875)	(344,041)

The directors consider 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 directors acknowledge their 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 profit and loss account 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

R J Beim

Director

Date:6 October 2025

The notes on pages 2 to 5 form part of these financial statements.


19 FIFE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is a private company, limited by shares, registered in England and Wales, registered number 11660187. The registered address of the company and its principal place of business is Unit 7, The Old Power Station, 121 Mortlake High Street, London, SW14 8SN.

The principal activity is that of property development.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

2.2

Going concern

The parent company have agreed to continue to provide financial support to the company to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements and therefore the accounts have been prerpared on a going concern basis.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of property

Turnover from the sale of property is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the property sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


19 FIFE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in the statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

Stocks

Stocks of development property are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on an actual basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of comprehensive income.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.10

Creditors

Short-term creditors are measured at the transaction price.

2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to and from related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


19 FIFE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

4.	Stocks
		2024	2023
		£	£

	Development property	4,915,876	4,679,694

Debtors

					2024	2023
					£	£


Other debtors	135,591	89,962
Prepayments and accrued income	-	14,176
	135,591	104,138

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	300	12,009
Amounts owed to group undertakings	5,392,159	5,109,539
Other creditors	2,625	2,625
Accruals and deferred income	6,258	3,700
	5,401,342	5,127,873

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

2 Ordinary shares of £1 each	2	2

There is a single class of ordinary share. There are no restrictions on the distribution of dividends and the repayment of capital.


19 FIFE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Contingent liabilities

At the reporting date, the parent company had a bank loan due to Alpha Bank London Limited.

The bank loan is secured by a fixed and floating charge over the development property of the company.

9.	Related party transactions
	No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.