REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2022 |
for |
121 KINGS ROAD LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2022 |
for |
121 KINGS ROAD LIMITED |
121 KINGS ROAD LIMITED (REGISTERED NUMBER: 05866498) |
Contents of the Financial Statements |
for the year ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Accountants' Report | 6 |
121 KINGS ROAD LIMITED |
Company Information |
for the year ended 31 December 2022 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
121 KINGS ROAD LIMITED (REGISTERED NUMBER: 05866498) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 7 |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
121 KINGS ROAD LIMITED (REGISTERED NUMBER: 05866498) |
Notes to the Financial Statements |
for the year ended 31 December 2022 |
1. | Statutory information |
121 Kings Road Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents sales to external customers in relation to ground rents at invoiced amounts. |
Investment property |
Investment properties are shown at their fair value and not depreciated. The surpluses arising from the any revaluation are transferred to the revaluation reserve. |
This is in accordance with the provision of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" which, unlike Schedule 4 to the Companies Act 2006, does not require depreciation of investment properties. |
Investment properties are not held for use by the company, so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
3. | Employees and directors |
The average number of employees during the year was NIL (2021 - NIL). |
121 KINGS ROAD LIMITED (REGISTERED NUMBER: 05866498) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 January 2022 |
and 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
The company owns the interest in the freehold of a property. The historic cost is £Nil. At 31 December 2022, the directors have revalued the interest in the freehold to its market value of £154,000 (2021 - £154,000). |
Fair value at 31 December 2022 is represented by: |
£ |
Valuation in 2022 | 154,000 |
5. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | Provisions for liabilities |
2022 | 2021 |
£ | £ |
Deferred tax | 29,260 | 29,260 |
Deferred tax |
£ |
Balance at 1 January 2022 |
Balance at 31 December 2022 |
121 KINGS ROAD LIMITED (REGISTERED NUMBER: 05866498) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary A shares | £1 | 455 | 455 |
Ordinary B shares | £1 | 180 | 180 |
Ordinary D shares | £1 | 365 | 365 |
1,000 | 1,000 |
9. | Reserves |
Revaluation |
reserve |
£ |
At 1 January 2022 |
and 31 December 2022 |
Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
121 Kings Road Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 121 Kings Road Limited for the year ended 31 December 2022 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of 121 Kings Road Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 121 Kings Road Limited and state those matters that we have agreed to state to the Board of Directors of 121 Kings Road Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 121 Kings Road Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that 121 Kings Road Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 121 Kings Road Limited. You consider that 121 Kings Road Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of 121 Kings Road Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |