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(1) Statutory information
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| 78 Park Street Bristol Limited 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. |
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(2) Accounting Policies
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Basis of preparing the financial statements
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| 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. |
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Turnover
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| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets
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| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. | | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | 25% reducing balance | | Equipment | 25% reducing balance | | Motor Cars | |
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Investment property
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| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Financial instruments
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| The company classifies its financial instruments as basic financial instruments in accordance with Section 11 of FRS 102. Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method, less any impairment. Basic financial liabilities, including trade and other payables and loans, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method. Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled. Financial liabilities are derecognised when the obligation is discharged, cancelled, or expires. |
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Taxation
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Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Deferred Tax
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits |
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(3) Employees
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| During the year, the average number of employees including director was 2 (2024 : 2). |
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(4) Related party disclosures
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During the period, the company paid management fees of £17,874 (2024 £14,612) to Urban Creation Ltd, of which J Brecknell, director, is director and shareholder.
The company has a loan from a director amounting to £1,691,379 (2024 £1,691,379). This loan is unsecured, interest-free, and repayable on demand. As the loan is repayable on demand and interest-free, it is measured at the amount repayable and classified as a current liability in the balance sheet. |
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(5) Fixed assets
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| Tangible
£ | Investments
Property
£ | Totals
£ | | Cost | | | | | As at 01 January 2025 | 80,140 | 3,200,000 | 3,280,140 | | As at 31 December 2025 | 80,140 | 3,200,000 | 3,280,140 | | Depreciation/Amortisation | | | | | As at 01 January 2025 | 59,330 | - | 59,330 | | For the year | 5,202 | - | 5,202 | | As at 31 December 2025 | 64,532 | - | 64,532 | | Net book value | | | | | As at 31 December 2025 | 15,608 | 3,200,000 | 3,215,608 | | As at 31 December 2024 | 20,810 | 3,200,000 | 3,220,810 |
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