COMPANY REGISTRATION NUMBER:
11114119
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2025
Fixed assets
|
Tangible assets |
4 |
|
1,047,651 |
1,401,099 |
|
|
|
|
|
Current assets
|
Debtors |
5 |
296,401 |
|
240,966 |
|
Cash at bank and in hand |
5,149 |
|
434 |
|
---------- |
|
---------- |
|
301,550 |
|
241,400 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
619,494 |
|
598,818 |
|
---------- |
|
---------- |
|
Net current liabilities |
|
317,944 |
357,418 |
|
|
------------- |
------------- |
|
Total assets less current liabilities |
|
729,707 |
1,043,681 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
750,670 |
1,043,581 |
|
|
---------- |
------------- |
|
Net (liabilities)/assets |
|
(
20,963) |
100 |
|
|
---------- |
------------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
(
21,063) |
– |
|
|
--------- |
---- |
|
Shareholders (deficit)/funds |
|
(
20,963) |
100 |
|
|
--------- |
---- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
4 June 2026
, and are signed on behalf of the board by:
Company registration number:
11114119
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cayuga House, 2a Addison Road, Hove, BN3 ITN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's directors and associated entities.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
The directors consider that the uncertainty caused in the industry as a result of Coronavirus and the restrictions put in place by the government should not materially affect the company's ability to continue as a going concern.
The company may take advantage of the support packages offered by the government, as appropriate and will continue to review and monitor costs as the situation develops.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
|
Short leasehold property |
|
£ |
|
Cost |
|
|
At 1 April 2024 |
1,401,099 |
|
Disposals |
(
353,448) |
|
------------- |
|
At 31 March 2025 |
1,047,651 |
|
------------- |
|
Depreciation |
|
|
At 1 April 2024 and 31 March 2025 |
– |
|
------------- |
|
Carrying amount |
|
|
At 31 March 2025 |
1,047,651 |
|
------------- |
|
At 31 March 2024 |
1,401,099 |
|
------------- |
|
|
5.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
229,401 |
225,966 |
|
Other debtors |
67,000 |
15,000 |
|
---------- |
---------- |
|
296,401 |
240,966 |
|
---------- |
---------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Corporation tax |
162,824 |
143,234 |
|
Social security and other taxes |
1,378 |
3,092 |
|
Other creditors |
455,292 |
452,492 |
|
---------- |
---------- |
|
619,494 |
598,818 |
|
---------- |
---------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
750,670 |
1,043,581 |
|
---------- |
------------- |
|
|
|
There are charges on the freehold property, the entities entitled are Onesavings Bank PLC.
8.
Controlling party
The Company regards Cayuga Developments Limited, incorporated in England and Wales, as its immediate and ultimate parent undertaking. The registered office of Cayuga Developments Limited is Cayuga House, 2a Addison Road, Hove, BN3 1TN.