REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
REGENT NORTH END PROPERTIES 2 LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
REGENT NORTH END PROPERTIES 2 LIMITED |
REGENT NORTH END PROPERTIES 2 LIMITED (REGISTERED NUMBER: 09305426) |
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 2 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 2 LIMITED (REGISTERED NUMBER: 09305426) |
BALANCE SHEET |
31 DECEMBER 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings | 8 |
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 2 LIMITED (REGISTERED NUMBER: 09305426) |
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 2 LIMITED (REGISTERED NUMBER: 09305426) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Regent North End Properties 2 Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The balance sheet of the company shows net current liabilities of £856,039 (2020 - £894,747). These amounts include a balance of £868,566 owed to a related company. In view of this the directors consider it appropriate to prepare the financial statements on the going concern basis. |
Turnover |
Turnover represents rent received. |
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 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 | 247,381 |
Valuation in 2018 | 300,000 |
Cost | 952,619 |
1,500,000 |
REGENT NORTH END PROPERTIES 2 LIMITED (REGISTERED NUMBER: 09305426) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed by related party |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed to related party |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
31.12.21 | 31.12.20 |
£ | £ |
Deferred tax | 81,954 | 81,954 |
Deferred |
tax |
£ |
Balance at 1 January 2021 |
Balance at 31 December 2021 |
8. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 January 2021 | 522,999 |
Profit for the year |
At 31 December 2021 | 561,707 |
The fair value reserve is non distributable. |
REGENT NORTH END PROPERTIES 2 LIMITED (REGISTERED NUMBER: 09305426) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
9. | RELATED PARTY DISCLOSURES |
Included in creditors is an amount of £868,566 (2020: £898,566) owed to Regent North End Properties 1 Limited, a company related by common shareholding. |
Included in debtors is an amount of £7,000 (2020: £7,000) owed by Regent North End Properties 3 Limited, a company related by common shareholding. |
The related company, Regent North End Properties 1 Limited, has a loan facility with Investec Bank plc which is secured with a fixed charge over the investment property and a debenture over the remaining assets held by Regent North End Properties 2 Limited. |