121 Kings Road Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05866498 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

121 KINGS ROAD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Accountants' Report

6

Directors:

M J Randall

Dr L Alassar

C M Eagle

Registered office:

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Registered number:

05866498 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Fixed assets

Investment property

4

154,000

154,000

Current assets

Debtors

5

28,309

21,947

Cash at bank

9,330

7,818

37,639

29,765

Creditors

Amounts falling due within one year

6

5,309

3,876

Net current assets

32,330

25,889

Total assets less current liabilities

186,330

179,889

Provisions for liabilities

7

29,260

29,260

Net assets

157,070

150,629

Capital and reserves

Called up share capital

8

1,000

1,000

Revaluation reserve

9

124,740

124,740

Retained earnings

31,330

24,889

Shareholders' funds

157,070

150,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 March 2024 and were signed on its behalf by:

Dr L Alassar - Director

C M Eagle - Director

M J Randall - Director

1.	Statutory information

121 Kings Road 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

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.

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).

4.	Investment property

Total

£

Fair value

At 1 January 2022

and 31 December 2022

154,000

Net book value

At 31 December 2022

154,000

At 31 December 2021

154,000

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

10,900

14,550

Other debtors

17,409

7,397

28,309

21,947

6.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

2,136

703

Amounts owed to group undertakings

673

673

Other creditors

2,500

2,500

5,309

3,876

7.	Provisions for liabilities

2022

2021

£

£

Deferred tax

29,260

29,260

Deferred tax

£

Balance at 1 January 2022

29,260

Balance at 31 December 2022

29,260

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

455

Ordinary A shares

£1

455

455

180

Ordinary B shares

£1

180

180

365

Ordinary D shares

£1

365

365

1,000

1,000

9.

Reserves

Revaluation

reserve

£

At 1 January 2022

and 31 December 2022

124,740

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.

Cooper Parry Advisory Limited

Aissela

46 High Street

Esher

Surrey

KT10 9QY

31 March 2024