COMPANY REGISTRATION NUMBER:
15522302
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
STATEMENT OF FINANCIAL POSITION |
|
28 February 2026
FIXED ASSETS
|
Tangible assets |
4 |
|
480,000 |
|
475,000 |
|
|
|
|
|
|
CURRENT ASSETS
|
Cash at bank and in hand |
4,118 |
|
2,907 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
5 |
181,497 |
|
181,449 |
|
|
--------- |
|
--------- |
|
|
NET CURRENT LIABILITIES |
|
177,379 |
|
178,542 |
|
|
--------- |
|
--------- |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
302,621 |
|
296,458 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
6 |
|
319,556 |
|
319,556 |
|
|
|
|
|
|
|
PROVISIONS |
|
8,894 |
|
– |
|
|
--------- |
|
--------- |
|
NET LIABILITIES |
|
(
25,829) |
|
(
23,098) |
|
|
--------- |
|
--------- |
|
|
|
|
|
CAPITAL AND RESERVES
|
Called up share capital fully paid |
|
4 |
|
4 |
|
Revaluation reserve |
|
26,682 |
|
30,576 |
|
Profit and loss account |
|
(
52,515) |
|
(
53,678) |
|
|
-------- |
|
-------- |
|
SHAREHOLDERS DEFICIT |
|
(
25,829) |
|
(
23,098) |
|
|
-------- |
|
-------- |
|
|
|
|
|
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 comprehensive income has not been delivered.
For the year ending 28 February 2026 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) |
|
28 February 2026
These financial statements were approved by the
board of directors
and authorised for issue on
22 October 2026
, and are signed on behalf of the board by:
Company registration number:
15522302
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 28 FEBRUARY 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 Unit 1 Hill Farm Estate, Little Addington, Kettering, NN14 4AS.
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.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues and financial support from the directors. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Revenue recognition
Turnover represents the amount derived from rent receivable.
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
Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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.
4.
TANGIBLE ASSETS
|
Investment Property |
|
£ |
|
Cost or valuation |
|
|
At 1 March 2025 |
475,000 |
|
Revaluations |
5,000 |
|
--------- |
|
At 28 February 2026 |
480,000 |
|
--------- |
|
Depreciation |
|
|
At 1 March 2025 and 28 February 2026 |
– |
|
--------- |
|
Carrying amount |
|
|
At 28 February 2026 |
480,000 |
|
--------- |
|
At 28 February 2025 |
475,000 |
|
--------- |
|
|
5.
CREDITORS:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Other creditors |
181,497 |
181,449 |
|
--------- |
--------- |
|
|
|
6.
CREDITORS:
amounts falling due after more than one year
|
2026 |
2025 |
|
£ |
£ |
|
Mortgages |
319,556 |
319,556 |
|
--------- |
--------- |
|
|
|
The mortgages are secured on properties held by the company.
7.
RELATED PARTY TRANSACTIONS
The directors have advanced monies to the company. At 28 February 2026 the amount due from the company was £180,249 (2025 £180,249).
8.
GOING CONCERN
The directors have considered the period to 31 October 2027 when assessing the company's ability to continue as a going concern. It is believed that the company will be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.