Barnet (Albert Road) Developments Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10333760 (England and Wales)

Barnet (Albert Road) Developments Ltd

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mr I Dinc

REGISTERED OFFICE:

239-241 Kennington Lane

London

SE11 5QU

REGISTERED NUMBER:

10333760 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barnet (Albert Road) Developments Ltd for the year ended 31 March 2025 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Barnet (Albert Road) Developments Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barnet (Albert Road) Developments Ltd and state those matters that we have agreed to state to the director of Barnet (Albert Road) Developments Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barnet (Albert Road) Developments Ltd and its director for our work or for this report.

It is your duty to ensure that Barnet (Albert Road) Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Barnet (Albert Road) Developments Ltd. You consider that Barnet (Albert Road) Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Barnet (Albert Road) Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

12 June 2026

FIXED ASSETS

Investments

4

-

100

Investment property

5

6,096,538

6,096,638

CURRENT ASSETS

Debtors

6

1,792

5,486

Cash at bank

30,156

20,194

31,948

25,680

CREDITORS

Amounts falling due within one year

7

229,135

162,752

NET CURRENT LIABILITIES

(197,187

)

(137,072

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,899,351

5,959,566

CREDITORS

Amounts falling due after more than one
year

8

(4,772,107

)

(4,797,025

)

PROVISIONS FOR LIABILITIES

10

(302,982

)

(302,982

)

NET ASSETS

824,262

859,559

CAPITAL AND RESERVES

Called up share capital

11

230

Non-distributable reserves

12

1,291,660

Retained earnings

12

(467,628

)

(432,331

)

SHAREHOLDERS' FUNDS

824,262

859,559

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 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.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 June 2026 and were signed by:

Mr I Dinc - Director

1.	STATUTORY INFORMATION

Barnet (Albert Road) Developments 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 as modified by the revaluation of certain assets.

Turnover

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

Turnover includes revenue earned from investments in properties.

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;

-on an accrual basis, based on the tenancy agreement.

Investment property

Under FRS 102 Section 16, investment property is not depreciated. Instead, it is measured at fair value at each reporting date, with changes in fair value recognized in profit or loss. Any improvement costs are capitalized and included in the fair value measurement, but they are also not depreciated separately.

Going concern

The financial statements have been prepared on a going concern basis. At the year end, the Company had negative retained earnings. The sole director has reviewed the Company’s financial position, cash flow forecasts and available financial support, and confirms that adequate funding will continue to be made available to the Company for a period of at least twelve months from the date of approval of these financial statements. On this basis, the director considers the going concern basis of preparation to be appropriate

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

100

Disposals

(100

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

100

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

6,096,538

NET BOOK VALUE

At 31 March 2025

6,096,538

At 31 March 2024

6,096,538

Director’s Assessment of Valuation

The director did not obtain an independent external valuation of the investment properties for the reporting period. The valuation has been determined based solely on the director’s own judgement, informed by their knowledge of the properties and prevailing market conditions. The director considers the carrying amount of the investment properties to approximate their open market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,657

1,986

Other debtors

135

3,500

1,792

5,486

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

25

3

Trade creditors

3,594

3,742

Other creditors

225,516

159,007

229,135

162,752

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Bank loans

4,050,000

4,100,954

Other creditors

722,107

696,071

4,772,107

4,797,025

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

4,050,000

Repayable by instalments

Bank loans

-

50,954

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

4,050,000

Bank loan is secured by a fixed charge over the property located at 9 Albert Road, Barnet, EN4 9SH.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

302,982

Deferred

tax

£

Balance at 1 April 2024

302,982

Balance at 31 March 2025

302,982

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

230

Ordinary

£1

230

12.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

At 1 April 2024

(432,331

)

1,291,660

859,329

Deficit for the year

(35,297

)

(35,297

)

At 31 March 2025

(467,628

)

1,291,660

824,032

13.	RELATED PARTY DISCLOSURES

Loans due to a member of key management personnel

At the balance sheet date, the Company owed £208,191 (2024: £149,107) to a member of key management personnel.The loan is interest-free and repayable on demand.This balance is presented within creditors: amounts falling due within one year.

Loans due to entities under common and joint control

Amounts owed to entities under common and joint control totalled £722,107 at the balance sheet date (2024: £696,071).These loans bear interest at market rates, are unsecured, and do not have fixed repayment terms.These balances are also presented within creditors: amounts falling due within one year.