COMPANY REGISTRATION NUMBER:
05715591
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 2025
|
Officers and professional advisers |
1 |
|
|
|
Notes to the financial statements |
4 |
|
|
31 December 2025
FIXED ASSETS
|
Tangible assets |
5 |
|
946,000 |
998,000 |
|
|
|
|
|
CURRENT ASSETS
|
Debtors |
6 |
316,921 |
|
328,786 |
|
Cash at bank and in hand |
33,854 |
|
16,138 |
|
---------- |
|
---------- |
|
350,775 |
|
344,924 |
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
(
1,657) |
|
(
632) |
|
---------- |
|
---------- |
|
NET CURRENT ASSETS |
|
349,118 |
344,292 |
|
|
------------- |
------------- |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
1,295,118 |
1,342,292 |
|
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
8 |
|
(
606,314) |
(
608,557) |
|
|
|
|
|
|
PROVISIONS |
|
(
120,000) |
(
133,000) |
|
|
------------- |
------------- |
|
NET ASSETS |
|
568,804 |
600,735 |
|
|
------------- |
------------- |
|
|
|
|
CAPITAL AND RESERVES
|
Called up share capital |
|
2 |
2 |
|
Profit and loss account |
|
568,802 |
600,733 |
|
|
---------- |
---------- |
|
SHAREHOLDERS' FUNDS |
|
568,804 |
600,735 |
|
|
---------- |
---------- |
|
|
|
|
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 profit and loss account has not been delivered.
For the year ending 31 December 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
.
|
BALANCE SHEET (continued) |
|
31 December 2025
These financial statements were approved by the
board of directors
and authorised for issue on
22 September 2026
, and are signed on behalf of the board by:
Company registration number:
05715591
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 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 33 Leweston Place, London, N16 6RJ. The presentation currency of these financial statements is sterling.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows: (i) Property valuation The valuation of the company's investment property is inherently subjective, depending on many factors including the nature of the property, its location and expected future net rental values, market yields and comparable market transactions. Therefore, the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
Turnover
The turnover of the company is represented by Rents and Charges receivable in respect of its investment property.
Taxation
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.
Investment properties
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - i. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and ii. No depreciation is provided in respect of investment properties applying the fair value model. Investment property fair value is determined by the Directors based on their understanding of property market conditions and the specific properties concerned using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition. Acquisitions and disposals of properties Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
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.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year, including the directors, amounted to 2 (2024: 2).
5.
TANGIBLE ASSETS
|
Freehold property |
|
£ |
|
Fair value |
|
|
At 1 January 2025 |
998,000 |
|
Revaluations |
(
52,000) |
|
---------- |
|
At 31 December 2025 |
946,000 |
|
---------- |
|
Carrying amount |
|
|
At 31 December 2025 |
946,000 |
|
---------- |
|
At 31 December 2024 |
998,000 |
|
---------- |
|
|
The historical cost of the properties is £330,921 (2024: £330,921). Investment property fair value is determined by the Directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach.
6.
DEBTORS
|
2025 |
2024 |
|
£ |
£ |
|
Other debtors |
316,921 |
328,786 |
|
---------- |
---------- |
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Corporation tax |
1,657 |
632 |
|
------- |
---- |
|
|
|
8.
CREDITORS:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
606,314 |
608,557 |
|
---------- |
---------- |
|
|
|
Bank loans and overdrafts are secured by the investment properties of the Company.
9.
RELATED PARTY TRANSACTIONS
No transactions with related parties, other than those disclosed above, were undertaken such as are required to be disclosed under FRS 102.