REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
REGENT NORTH END PROPERTIES 1 LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
REGENT NORTH END PROPERTIES 1 LIMITED |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
REGENT NORTH END PROPERTIES 1 LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 Prince Albert Road |
London |
NW1 7SN |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
BALANCE SHEET |
31 DECEMBER 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
FIXED ASSETS |
Loan to related party | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 11 |
Retained earnings | 11 |
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. |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Regent North End Properties 1 Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Regent North End Properties 1 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents rent received. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in fair value reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT IN SUBSIDIARY |
Shares in |
group |
undertaking |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
4. | INVESTMENT IN SUBSIDIARY - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 4 Prince Albert Road, London, England, NW1 7SN |
Nature of business: |
% |
Class of shares: | holding |
31.12.21 | 31.12.20 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Fair value at 31 December 2021 is represented by: |
£ |
Valuation in 2017 | 602,837 |
Valuation in 2018 | 200,000 |
Cost | 697,163 |
1,500,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 1,725,000 | 1,825,000 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans |
The bank indebtedness is secured by a fixed charge over the investment property and a debenture over the |
remaining assets of both the company and the related party Regent North End Properties 2 Limited. |
10. | PROVISIONS FOR LIABILITIES |
31.12.21 | 31.12.20 |
£ | £ |
Deferred tax | 134,111 | 134,111 |
Deferred |
tax |
£ |
Balance at 1 January 2021 |
Balance at 31 December 2021 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 January 2021 | 735,278 |
Profit for the year |
At 31 December 2021 | 769,556 |
The fair value reserve is non distributable. |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
12. | RELATED PARTY DISCLOSURES |
Included in other debtors is an amount of £708,900 (2020: £754,900) due from the subsidiary company . |
Regent North End Properties 3 Limited. |
Included in debtors is an amount of £868,566 (2020: £898,566) due from Regent North End Properties 2 Limited, a company related by common shareholding. |
The company's loan facility with Investec Bank plc is secured with fixed charge over the investment property and a debenture over the remaining assets of Regent North End Properties 3 Limited and Regent North End Properties 2 Limited. |