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(1) General Information
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| The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 349 Royal College Street, London, NW1 9QS. |
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(2) Statement of compliance
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| These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime. |
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(3) Significant Accounting Policies
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Basis of Preparation
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| The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Revenue recognition
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| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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Investment property
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| Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. |
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Taxation
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| Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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Current Tax
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| The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
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Deferred Tax
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A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
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(4) Employees
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| During the year, the average number of employees including director was 5 (2024 : 4). |
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(5) Investment property
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| Land and Buildings | | £ | | Cost | | | As at 01 January 2025 | 256,000 | | As at 31 December 2025 | 256,000 | | Depreciation | | | As at 31 December 2025 | - | | Net book value | | | As at 31 December 2025 | 256,000 | | As at 31 December 2024 | 256,000 |
The property is being measured at fair value under FRS102 and fair value gains and losses are reported in profit and loss.
FRS 102 also requires deferred tax to be accounted for on assets that are subject to revaluation. Consequently, deferred tax of £nil (To date £9,188) was recognised as at 31 December 2025 to reflect the provision of FRS 102. |
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(6) Debtors
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Amounts falling due within one year
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| | | 2025 | | 2024 | | £ | | £ | | | | | | | Other debtors | - | | 25 | | | | | | - | | 25 |
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(7) Creditors: Amounts falling due within one year
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| | | 2025 | | 2024 | | £ | | £ | | | Trade creditors | 21,014 | | 21,014 | | | | | | | | | | | | | | Other creditors | 550 | | - | | Accruals and deferred income | 630 | | 600 | | 22,194 | | 21,614 |
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(8) Share capital and reserves
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| | Alloted, called up and fully paid: | 2025 | | 2024 | | £ | | £ | | | 48 (2024 : 45) Share Capital of of £ 1 each | 48 | | 45 | | 48 | | 45 | | | Included within retained earnings is a non-distributable reserve of £105,749 (£114,937 fair value gain on investment property to date, less deferred tax thereon of £9,188). No movement arose in the year ended 31 December 2025 (2024: £nil). This amount is not available for distribution to shareholders | | | Retained earnings | | | 2025 | | | | £ | | At 1 January 2025 | | | 154,393 | | Profit of the year | | | 4,237 | | | | | | At 31 December 2025 | | | 158,630 | |
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(9) Post Balance Sheet Events
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Trade creditors include £21,014 (2024: £21,014) relating to an unidentified historic balance. Enquiries are ongoing and, if no creditor is identified, the amount will be released to profit or loss in a future period.
No adjustment has been made as this is a non‑adjusting post balance sheet event under FRS 102. |
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