REGISTERED NUMBER: 11935075 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

198 VICTORIA ROAD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

M D Smith

Secretary:

M D Smith

Registered office:

3rd Floor 86-90 Paul Street

London

EC2A 4NE

Registered number:

11935075 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Current assets

Stocks

-

317,487

Debtors

4

235,578

616,193

Cash at bank and in hand

63,807

308,083

299,385

1,241,763

Creditors

Amounts falling due within one year

5

704,867

1,615,381

Net current liabilities

(405,482

)

(373,618

)

Total assets less current liabilities

(405,482

)

(373,618

)

Creditors

Amounts falling due after more than one year

6

-

13,167

Net liabilities

(405,482

)

(386,785

)

Capital and reserves

Called up share capital

8

100

100

Retained earnings

(405,582

)

(386,885

)

Shareholders' funds

(405,482

)

(386,785

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2026 and were signed by:

M D Smith - Director

1.	Statutory information

198 Victoria Road Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

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

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Net borrowing costs in respect of capital expenditure on properties under development or undergoing refurbishment are capitalised. Interest capitalised is the cost of borrowing from the commencement of development work until the date of practical completion. The capitalisation of finance costs is suspended if there are prolonged periods when development actively is interrupted. All other borrowing costs are recognised in profit and loss.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

The financial statements have been prepared on the going concern basis. The director has reviewed the company's cashflows over the next twelve months from the date of signing the financial statements and considers that, based on the support that is likely to be available, the company will be able to meet its debts as and when they fall due.

3.	Employees and directors

The average number of employees during the year was 1 (2024 - 1 ) .

4.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

-

10,344

Amounts owed by associates

234,478

573,936

Other debtors

1,100

31,913

235,578

616,193

5.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts (see note 7)

11,667

8,500

Trade creditors

3,913

708,418

Amounts owed to associates

269,873

894,417

Taxation and social security

13,743

-

Other creditors

405,671

4,046

704,867

1,615,381

6.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Other creditors

-

13,167

7.

Loans

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

BBL Loan Account

11,667

8,500

Amounts falling due between one and two years:

Other loans - 1-2 years

-

8,500

Amounts falling due between two and five years:

Other loans - 2-5 years

-

4,667

The BBL Bank loan is guaranteed by the UK Government as part of the Bounce Back Loan Scheme (BBLS). This bank loan was received on 6 July 2020.

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

9.	Related party disclosures

As at the year end, a total amount of £234,478 (2024: £573,936) is due from companies related by virtue of common ownership.

As at the year end, a total amount of £269,873 (2024: £894,417) is due to companies related by virtue of common ownership. All the companies are connected by virtue of having M Smith as a common director