Baker Street Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09012596

Baker Street Properties Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Baker Street Properties Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		–		2,232

Current assets

Stocks		–	2,999,938
Debtors	6	1,360	917
Cash at bank and in hand		16,021	5,888
		--------	------------
		17,381	3,006,743

Creditors: amounts falling due within one year	7	48,705		38,813
		--------		------------
Net current (liabilities)/assets			( 31,324)		2,967,930
			--------		------------
Total assets less current liabilities			( 31,324)		2,970,162

Creditors: amounts falling due after more than one year	8		1,974,273		4,924,720

Provisions

Taxation including deferred tax	–		558
Other provisions	100,000		–
	---------		----
		100,000		558
		------------		------------
Net liabilities		( 2,105,597)		( 1,955,116)
		------------		------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 2,105,697)	( 1,955,216)
	------------	------------
Shareholders deficit	( 2,105,597)	( 1,955,116)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Baker Street Properties Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 7 December 2025 , and are signed on behalf of the board by:

Mr R A D Bateson BSc (Hons) NDA

Director

Company registration number: 09012596

Baker Street Properties Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is High Gilbrea Cottage, High Lorton, Cockermouth, Cumbria, CA13 9TX, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors note that the company has negative shareholder funds of £2,105,597 as at the balance sheet date. This includes £1,974,273 owed to the parent company. The directors have received an assurance from the parent company that the loan balance owed to them will not be called in for repayment until such time as the company can afford to repay. In addition the parent company has confirmed that it will continue to provide support to allow the company to meet its obligations as and when they fall due for the foreseeable future and for at least 12 months from the signing of these financial statements. On this basis the directors have prepared the financial statements on a going concern basis.

Revenue recognition

The turnover shown in the profit and loss represents amounts receivable for development properties sold, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Show home furniture	-	15% reducing balance

Non-contractual work in progress

Non-contractual work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all direct costs incurred in bringing the work in progress to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted nil (2024: nil).

5. Tangible assets

	Show home furniture
	£
Cost
At 1 April 2024	5,839
Disposals	( 5,839)
	-------
At 31 March 2025	–
	-------
Depreciation
At 1 April 2024	3,607
Charge for the year	189
Disposals	( 3,796)
	-------
At 31 March 2025	–
	-------
Carrying amount
At 31 March 2025	–
	-------
At 31 March 2024	2,232
	-------

6. Debtors

	2025	2024
	£	£
Other debtors	1,360	917
	-------	----

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,691	19,338
Other creditors	40,014	19,475
	--------	--------
	48,705	38,813
	--------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Amounts owed to group undertakings	1,974,273	4,924,720
	------------	------------

9. Related party transactions

During the year Rannerlow Limited, the parent company, paid expenses on behalf of the company and made further loans to the company amounting to £99,553 (2024: £47,318). During the year Baker Street Properties Limited sold properties to Rannerlow Limited for £3,050,000 (2024: £Nil). The balance owed to Rannerlow Limited at the balance sheet date is £1,974,273 (2024: £4,924,720) including all interest charged on the loan balance to date. The loan balance is not repayable until at least 1 April 2026. No interest was charged on the loan amount for the current financial year (2024: £Nil).