COMPANY REGISTRATION NUMBER:
10918824
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 March 2026
Fixed assets
|
Tangible assets |
4 |
700,000 |
700,000 |
|
|
|
|
Current assets
|
Cash at bank and in hand |
17,717 |
51,223 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
264,719 |
271,457 |
|
--------- |
--------- |
|
Net current liabilities |
247,002 |
220,234 |
|
--------- |
--------- |
|
Total assets less current liabilities |
452,998 |
479,766 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
61,562 |
131,636 |
|
|
|
|
|
Provisions |
45,007 |
30,823 |
|
--------- |
--------- |
|
Net assets |
346,429 |
317,307 |
|
--------- |
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
106 |
100 |
|
Fair value reserves |
41,780 |
45,123 |
|
Profit and loss account |
304,543 |
272,084 |
|
--------- |
--------- |
|
Shareholders funds |
346,429 |
317,307 |
|
--------- |
--------- |
|
|
|
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 income statement has not been delivered.
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 2026
These financial statements were approved by the
board of directors
and authorised for issue on
21 September 2026
, and are signed on behalf of the board by:
Company registration number:
10918824
|
Notes to the Financial Statements |
|
Year ended 31 March 2026
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 The Ropewalk, Nottingham, NG1 5DU.
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.
Revenue recognition
Turnover comprises rental income receivable in the ordinary course of business, excluding value added tax. Rental income is recognised on a straight-line basis over the term of the rental agreement. Where payments are received in advance, these are deferred and recognised in the period to which they relate. Where rental income has been earned but not yet invoiced, it is accrued within debtors. Revenue is measured at the fair value of consideration received or receivable and is recognised to the extent that it is probable that the economic benefits will flow to the company and the amount can be reliably measured.
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.
Tangible assets
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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
|
Investment property |
|
£ |
|
Cost |
|
|
At 1 April 2025 and 31 March 2026 |
700,000 |
|
--------- |
|
Depreciation |
|
|
At 1 April 2025 and 31 March 2026 |
– |
|
--------- |
|
Carrying amount |
|
|
At 31 March 2026 |
700,000 |
|
--------- |
|
At 31 March 2025 |
700,000 |
|
--------- |
|
|
The directors consider that the investment property is held at its fair value.
5.
Creditors:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Bank loans and overdrafts |
7,972 |
12,838 |
|
Corporation tax |
8,765 |
10,631 |
|
Social security and other taxes |
2,976 |
4,976 |
|
Other creditors |
245,006 |
243,012 |
|
--------- |
--------- |
|
264,719 |
271,457 |
|
--------- |
--------- |
|
|
|
The bank loans and overdrafts are secured by a fixed and floating charge by Lloyds Bank Plc.
6.
Creditors:
amounts falling due after more than one year
|
2026 |
2025 |
|
£ |
£ |
|
Bank loans and overdrafts |
61,562 |
131,636 |
|
-------- |
--------- |
|
|
|
Included within creditors: amounts falling due after more than one year is an amount of £29,673 (2025: £80,288) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loans and overdraft are secured by a fixed and floating charge by Lloyds Bank Plc.
7.
Fair value reserve
The following movements on the fair value reserve are included within fair value reserves in the statement of changes in equity:
|
2026 |
2025 |
|
£ |
£ |
|
At start of year |
45,123 |
45,123 |
|
Profit and loss - Reclassification to fair value reserve from profit and loss account |
|
– |
|
-------- |
-------- |
|
At end of year |
41,780 |
45,123 |
|
-------- |
-------- |
|
|
|
8.
Related party transactions
During the year the director provided the company with an interest free loan repayable on demand. The amount due at the balance sheet date was £242,216 (2025: £241,722).