REGISTERED NUMBER: 11563460

Unaudited Financial Statements for the Year Ended 31 December 2024

for

49 Leicester Road Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P L Mills

REGISTERED OFFICE:

144-146 Kings Cross Road

London

WC1X 9DU

REGISTERED NUMBER:

11563460

ACCOUNTANTS:

Bracey's Accountants (Stevenage) Limited

18-20 High Street

Stevenage

Hertfordshire

SG1 3EJ

FIXED ASSETS

Investment property

5

1,541,329

1,541,329

CURRENT ASSETS

Debtors

6

16,958

14,787

Cash at bank

2,546

4,501

19,504

19,288

CREDITORS

Amounts falling due within one year

7

515,917

513,860

NET CURRENT LIABILITIES

(496,413

)

(494,572

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,044,916

1,046,757

CREDITORS

Amounts falling due after more than one year

8

1,055,610

1,047,536

NET LIABILITIES

(10,694

)

(779

)

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

19,305

19,305

Retained earnings

(30,099

)

(20,184

)

(10,694

)

(779

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

P L Mills - Director

1.	STATUTORY INFORMATION

49 Leicester Road Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Going concern

At the balance sheet date the company had net current liabilities of £501,133 (2023: £491,686) and

distributable reserves amount to losses of £34,389 (2023: £8,139). The directors have pledged to

continue to financially support the company for the following 12 months. On this basis the director feels it appropriate to prepare these financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the rent receivable for the period in the ordinary course of the

company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by either an external valuer or the Director. In determining the value, observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset are used. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of

business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed for bad debts on an annual basis, any adjustment is made accordingly in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,541,329

NET BOOK VALUE

At 31 December 2024

1,541,329

At 31 December 2023

1,541,329

There has been no valuation of investment properties by an independent valuer. The director has

considered the market value of the properties and consider that the current value is representative of the market value of the investment properties at the balance sheet date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

4,715

4,715

Other debtors

12,243

10,072

16,958

14,787

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

514,124

512,124

Other creditors

1,793

1,736

515,917

513,860

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

1,055,610

1,047,536

Loans and borrowings due after more than one year are secured by way of a fixed and floating charge as well as negative pledges on the investment properties concerned in favour of Charter Court Financial Services Limited.

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due between one and two years:

Other loans - 1-2 years

1,055,610

1,047,536

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Paul Mills, by virtue of his shareholding.

11.	RELATED PARTY TRANSACTIONS

2024

At 1 January2024

Advances todirector

Repayments to director

At 31December2 024

Mr P L Mills

£

£

£

£

Directors loan account

(161

)

8,919

-

8,758

2023

At 1 January2023

Advances todirector

Repayments to director

At 31December2 023

Mr P L Mills

£

£

£

£

Directors loan account

(327

)

11,568

(12057

(161

)

This loan is repayable on demand and interest is charged at a market value.

Summary of transactions with other related parties

Included in other creditors under note 6 is £4,715 (2023:£4,715) owed to PLM Holdings Limited), which is owed from PLM Holdings Limited, a company connected due to common directorships. This loan is provided interest free and is repayable on demand.

Included in other creditors under note 6 is £512,124 (2023: £512,124), which is owed to Absolute

Accountancy Recruitment Limited. a company connected due to common directorships. This loan is provided interest free and is repayable on demand.