| Directors | |
| Registered office | |
| Registered number | 16036725 |
| Accountant | Jeffreys Glass Accountants Limited |
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The financial statements were approved and authorised for issue by the Board of Directors on
Sandler, Simcha Yehuda
Director |
Company registration number 16036725
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The financial statements are presented in sterling and this is the functional currency of the company.
The financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
The financial statements have been prepared under the historical cost convention in accordance with the Companies Act 2006.
Turnover represents rental income receivable from the letting of investment property during the year, exclusive of value added tax.
Rental income is recognised on a straight-line basis over the period of the tenancy when the Company's right to receive the income has been established and it is probable that the economic benefits associated with the transaction will flow to the Company.
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss.
The investment property comprises a residential property held for rental income and capital appreciation.
The directors consider that the carrying value of the investment property at 31 October 2025 represents its fair value. Fair value has been determined by the directors having regard to the recent arm's length purchase of the property during the year and available market evidence. No external valuation was obtained.
The Company has elected to apply the provisions of Sections 11 and 12 of FRS 102 in respect of financial instruments.
Basic financial assets, which include debtors 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.