COMPANY REGISTRATION NUMBER:
09084357
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
30 December 2024
Fixed assets
|
Tangible assets |
4 |
|
270,000 |
270,000 |
|
|
|
|
|
Current assets
|
Debtors |
5 |
663,356 |
|
585,120 |
|
Cash at bank and in hand |
2,070 |
|
24,822 |
|
--------- |
|
--------- |
|
665,426 |
|
609,942 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
590,224 |
|
831,855 |
|
--------- |
|
--------- |
|
Net current assets/(liabilities) |
|
75,202 |
(
221,913) |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
345,202 |
48,087 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
841,841 |
544,741 |
|
|
--------- |
--------- |
|
Net liabilities |
|
(
496,639) |
(
496,654) |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
1 |
1 |
|
Profit and loss account |
|
(
496,640) |
(
496,655) |
|
|
--------- |
--------- |
|
Shareholders deficit |
|
(
496,639) |
(
496,654) |
|
|
--------- |
--------- |
|
|
|
|
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 30 December 2024 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
.
|
Statement of Financial Position (continued) |
|
30 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
24 December 2025
, and are signed on behalf of the board by:
Company registration number:
09084357
|
Notes to the Financial Statements |
|
Year ended 30 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY, UK.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts received for property licence fee during the period, exclusive of Value Added Tax, in respect of principal activity.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Tangible assets
|
Land and buildings |
|
£ |
|
Cost |
|
|
At 31 December 2023 and 30 December 2024 |
270,000 |
|
--------- |
|
Depreciation |
|
|
At 31 December 2023 and 30 December 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 30 December 2024 |
270,000 |
|
--------- |
|
At 30 December 2023 |
270,000 |
|
--------- |
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
2,450 |
– |
|
Other debtors |
660,906 |
585,120 |
|
--------- |
--------- |
|
663,356 |
585,120 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
420 |
– |
|
Trade creditors |
33,782 |
55,624 |
|
Other creditors |
556,022 |
776,231 |
|
--------- |
--------- |
|
590,224 |
831,855 |
|
--------- |
--------- |
|
|
|
Other creditors include directors loan of £800 (2023:£1,000).
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Other creditors |
841,841 |
544,741 |
|
--------- |
--------- |
|
|
|
8.
Related party transactions
Other creditors include a short term loan from an associated company, CG (WBR) Ltd of £541,841 (2023: £544,741) and shareholder's loan of £300,000 from Cloudwing Investment Co Ltd.
9.
Controlling party
The immediate holding company is Leander Slough Limited which is incorporated in the UK. Leander Slough Limited is the sole owner, but is controlled by Cloudwing Investments Company Ltd incorporated in BVI.