Company Registration No. 12327498 (England and Wales)
School Road Acton Limited
Unaudited accounts
for the year ended 31 March 2025
School Road Acton Limited
Unaudited accounts
Contents
School Road Acton Limited
Company Information
for the year ended 31 March 2025
Directors
R E Barth
S Priller
D Ziatabari
Company Number
12327498 (England and Wales)
Registered Office
Capital Office
124-128 City Road
London
London
EC1V 2NX
England
Accountants
Stoic Gold Ltd
124 City Road
London
EC1V 2NX
School Road Acton Limited
Statement of financial position
as at 31 March 2025
Cash at bank and in hand
88,907
37,450
Creditors: amounts falling due within one year
(796,751)
(7,612,109)
Net current liabilities
(688,821)
(1,864,634)
Total assets less current liabilities
(688,821)
(1,864,634)
Creditors: amounts falling due after more than one year
(852,498)
(13,146)
Net liabilities
(1,541,319)
(1,877,780)
Called up share capital
2
2
Profit and loss account
(1,541,321)
(1,877,782)
Shareholders' funds
(1,541,319)
(1,877,780)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by
R E Barth
Director
Company Registration No. 12327498
School Road Acton Limited
Notes to the Accounts
for the year ended 31 March 2025
School Road Acton Limited is a private company, limited by shares, registered in England and Wales, registration number 12327498. The registered office is Capital Office, 124-128 City Road, London, London, EC1V 2NX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
At 31 March 2024, the Company had net liabilities of £1,522,177.
Notwithstanding this, the financial statements have been prepared on the going concern basis.
The company is involved in a legal claim which may significantly impact the company's financial position. The Directors are therefore confident that it remains appropriate to prepare the accounts on a going concern basis.
Rental income is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives being offered to occupiers to enter into a lease, such as an initial rent-free period or a cash contribution to fit out or similar costs, are an integral part of the net consideration for the use of the property and are therefore recognised on the same straight-line basis.
Inventories comprise land and buildings held for development and are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises the original purchase price and
associated costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
Contracts for the purchase or sale of land and buildings are brought into the financial statements when they are exchanged or when they become unconditional, whichever is the later.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
School Road Acton Limited
Notes to the Accounts
for the year ended 31 March 2025
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion
of the company.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
School Road Acton Limited
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
Trade debtors
1,361
13,503
Amounts due from group undertakings etc.
2,610
982
Other debtors
2,355
12,127
5
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
9,952
9,952
Trade creditors
2,266
86,867
Amounts owed to group undertakings and other participating interests
751,465
907,796
Taxes and social security
20,068
-
Other creditors
10,000
5,641,099
Bank loans consists of: a loan from Metro Bank under the government supported Coronavirus Business Interruption Loan Scheme. The loan of £50,000 was drawn down in September 2020 and is due to be repaid in full in 2026. No repayments were due in first 13 months, with payments commencing in July 2021. The Government agreed to pay the interest for the first 12 months after which, interest accrues on a monthly basis at the rate of 2.5% per annum.
Within other creditors there are the following loans:
A loan of £4,814,346 from Ronoco Capital Limited that is secured by a fixed and floating charge over the development property owned by the company. The loan carries interest at a daily rate of 0.055%. The loan is due for repayment in full on 12 March 2025.
A loan of £325,000 from Jonathan Godfrey Investments Limited. The loan carries interest of 10% per annum and is due for repayment on demand. No interest has been accrued as it may not be affordable for the company to pay.
A loan of £525,000 from A Mose Investments Limited. The loan carries interest of 10% per annum and is due for repayment on demand. No interest has been accrued as it may not be affordable for the company to pay.
6
Creditors: amounts falling due after more than one year
2025
2024
Allotted, called up and fully paid:
1 Ordinary A shares of £1 each of £1 each
1
1
1 Ordinary B shares of £1 each of £1 each
1
1
School Road Acton Limited
Notes to the Accounts
for the year ended 31 March 2025
8
Transactions with related parties
At year end, the company was indebted to Charlbury Homes Limited in the amount of £751,465 (2024: £847,197). Interest of £103,794 was charged in the year to 31 March 2023 however this has now been written back as it may not be realistic for the company to pay the interest. The loan is unsecured and repayable on demand.
At the year end the company was owed £9,201 from Equinox Living Limited (2024 - owed £59,999). The loan is interest free, unsecured and repayable on demand.
Mr R E Barth is also a director of Acton Property Lending Ltd. At year end, Acton Property Lending Ltd owed the company £632 (2024: £632). The loan is interest free, unsecured and repayable on demand.
At the year end, the company was owed from Charlbury Homes (Management) Limited, a connected company, in the amount of £180 (2024: £600). The amount is interest free, unsecured and repayable on demand.
At the year end, Mr R E Barth, a director, owed £966 to the company (2024 - £966) The amount is unsecured, interest free and repayable on demand.
At the year end, Mr S Priller, a director, owed the company £145 (2024: £145). The amount is unsecured, interest free and repayable on demand.
No interest has been recognised on any loans payable as there is currently no certainty of the company's ability to pay. The creditors are comfortable with this assumption given the current legal matter which is ongoing.
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).