REGISTERED NUMBER: 10069572 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

AREA LIVING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Antoniades

Mrs M Harvey

REGISTERED OFFICE:

1 Turnpike Lane

London

N8 OEP

REGISTERED NUMBER:

10069572 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investments

4

45

45

Investment property

5

400,000

395,000

400,045

395,045

CURRENT ASSETS

Debtors

6

55,454

60,679

Cash at bank and in hand

839

2,463

56,293

63,142

CREDITORS

Amounts falling due within one year

7

164,669

165,726

NET CURRENT LIABILITIES

(108,376

)

(102,584

)

TOTAL ASSETS LESS CURRENT LIABILITIES

291,669

292,461

CREDITORS

Amounts falling due after more than one year

8

(283,866

)

(283,866

)

PROVISIONS FOR LIABILITIES

(5,437

)

(3,201

)

NET ASSETS

2,366

5,394

CAPITAL AND RESERVES

Called up share capital

11

100

100

Fair value reserve

12

24,310

21,546

Retained earnings

(22,044

)

(16,252

)

SHAREHOLDERS' FUNDS

2,366

5,394

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 directors acknowledge their 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 Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

Mr C Antoniades - Director

1.	STATUTORY INFORMATION

Area Living 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.

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 represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2024

and 31 March 2025

45

NET BOOK VALUE

At 31 March 2025

45

At 31 March 2024

45

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

395,000

Revaluations

5,000

At 31 March 2025

400,000

NET BOOK VALUE

At 31 March 2025

400,000

At 31 March 2024

395,000

The directors have revalued the properties in accordance with valuations of similar properties in the area as at 31/03/2025.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amount due from related party

49,445

54,445

Prepayments

6,009

6,234

55,454

60,679

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

1,847

1,208

Other creditors

2,110

2,387

Amount due to related party

3,019

1,000

Directors' current accounts

156,493

158,356

Accrued expenses

1,200

2,775

164,669

165,726

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 9)

283,866

283,866

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

283,866

283,866

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

283,866

283,866

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

283,866

283,866

The bank loan is secured against a first legal charge over the investment property owned by the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary Shares

£1

100

100

12.

RESERVES

Fair

value

reserve

£

At 1 April 2024

21,546

Fair value

2,764

At 31 March 2025

24,310