Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 440,000 | 440,000 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 2,840 | 1,939 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (22,568) | (26,035) | ||
| Total assets less current liabilities | 417,432 | 413,965 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of 21 Lushington Road Limited (registered number:
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R Bridge
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
21 Lushington Road Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is 21 Lushington Road, Hyde Gardens, Eastbourne, BN21 4PX.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 January 2025 |
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| At 31 December 2025 |
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| Accumulated depreciation | |||
| At 01 January 2025 |
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| At 31 December 2025 |
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| Net book value | |||
| At 31 December 2025 | 440,000 | 440,000 | |
| At 31 December 2024 | 440,000 | 440,000 |
Investment properties
The market value of the company's investment property was reviewed by Lawson Commercial on 28 May 2024 and was valued at £440,000. The Directors confirmed that the investment property value at 31 December 2025 is accurate at £440,000. The basis of the valuation is at open market value.
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| £ | £ | ||
| Other debtors |
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| £ | £ | ||
| Other loans |
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| Accruals |
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| Taxation and social security |
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The loan is secured over the investment property it relates to.
| 2025 | 2024 | ||
| £ | £ | ||
| Other loans |
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Included in the balance above are amounts due after 5 years of £168,023 (2024: £192,741)
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| £ | £ | ||
| Allotted, called-up and not yet paid | |||
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Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to LLP | 265,098 | 283,582 |
The company received a facility from Stephen Rimmer LLP, a Limited Liability Partnership in which the Directors are Members, on 12 January 2018 amounting to £436,708. The purpose of the loan was to provide the company with funds to purchase the property in Lushington Road. Interest is payable on this loan.
The LLP also set up a lease arrangement with the company to utilise part of the property as office space. The contractual term is agreed at 12 years and commenced on 24 June 2018 with annual rental of £30,000 payable on a quarterly basis by the LLP. The rental charge is partially offset by interest income via a separate facilities agreement which is payable by the company back to the LLP.
The net effect of the transactions was an amount owed to the LLP at the year-end of £265,098 (2024: £283,582).
Included within the profit and loss account are non-distributable reserves totalling £3,292 (2024: £3,292).