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REGISTERED NUMBER: 04220018 (England and Wales)









Financial Statements

for the Year Ended

30 September 2021

for

York Apartments Limited

York Apartments Limited (Registered number: 04220018)






Contents of the Financial Statements
for the Year Ended 30 September 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


York Apartments Limited

Company Information
for the Year Ended 30 September 2021







DIRECTORS: V Mehra
Mrs A Mehra





SECRETARY: V Mehra





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 04220018 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

York Apartments Limited (Registered number: 04220018)

Statement of Financial Position
30 September 2021

2021 2020
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 6,242 9,362
Investment property 5 16,855,542 18,436,941
16,861,784 18,446,303

CURRENT ASSETS
Debtors 6 173,532 158,659
Cash at bank 83,804 209,154
257,336 367,813
CREDITORS
Amounts falling due within one year 7 (389,961 ) (470,087 )
NET CURRENT LIABILITIES (132,625 ) (102,274 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,729,159

18,344,029

CREDITORS
Amounts falling due after more than one
year

8

(5,269,742

)

(5,361,336

)

PROVISIONS FOR LIABILITIES (935,302 ) (1,254,931 )
NET ASSETS 10,524,115 11,727,762

CAPITAL AND RESERVES
Called up share capital 488,896 488,896
Retained earnings 10 10,035,219 11,238,866
10,524,115 11,727,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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.

York Apartments Limited (Registered number: 04220018)

Statement of Financial Position - continued
30 September 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:





V Mehra - Director


York Apartments Limited (Registered number: 04220018)

Notes to the Financial Statements
for the Year Ended 30 September 2021

1. STATUTORY INFORMATION

York Apartments 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.

Turnover
Income comprises rent receivable from investment properties net of value added tax and is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 33.33% on reducing balance

Investment property
Investment property comprises freehold and long leasehold properties.

Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

York Apartments Limited (Registered number: 04220018)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
& fittings
£   
COST
At 1 October 2020
and 30 September 2021 83,267
DEPRECIATION
At 1 October 2020 73,905
Charge for year 3,120
At 30 September 2021 77,025
NET BOOK VALUE
At 30 September 2021 6,242
At 30 September 2020 9,362

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2020 18,436,941
Additions 80,081
Revaluations (1,630,081 )
Exchange differences (31,399 )
At 30 September 2021 16,855,542
NET BOOK VALUE
At 30 September 2021 16,855,542
At 30 September 2020 18,436,941

Fair value at 30 September 2021 is represented by:
£   
Valuation in 2019 7,559,315
Valuation in 2020 2,639,553
Valuation in 2021 (1,630,081 )
Cost 8,286,755
16,855,542

If the investment properties had not been revalued they would have been included at the following historical cost:

2021 2020
£    £   
Cost 8,286,755 8,238,073

Investment properties were valued on an open market basis on 30 September 2021 by the directors .

York Apartments Limited (Registered number: 04220018)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 24,399 13,194
Other debtors 138,905 131,589
Prepayments & accrued income 10,228 13,876
173,532 158,659

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 87,860 81,193
Trade creditors 11,191 3,407
Tax 26,723 58,906
Social security & other taxes 5,768 1,333
Other creditors 184,945 257,431
Accruals & deferred income 73,474 67,817
389,961 470,087

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans repayable in under
5 years 348,107 351,440
Bank loans repayable by
instalments after more than 5
years 242,635 402,396
Bank loans repayable otherwise
than by instalments in more
than 5 years 4,679,000 4,607,500
5,269,742 5,361,336

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans repayable otherwise
than by instalments in more
than 5 years 4,679,000 4,607,500
4,679,000 4,607,500

Repayable by instalments
Bank loans repayable by
instalments after more than 5
years 242,635 402,396
242,635 402,396

The loans are for a duration of 10 years maturing in 2027 and 2028. Under the terms of two loans, the lender has the option to call in these loans on the fourth and fifth anniversaries from commencement respectively. If the lender was to exercise the option then, in addition to the normal instalments, £1,039,500 would fall due for payment in 2022 and £635,000 would fall due for payment in 2023.

York Apartments Limited (Registered number: 04220018)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 5,310,935 5,392,529

The bank loans are secured on the investment properties.

10. RESERVES

The retained earnings of £10,035,219 (2020: £11,238,866) comprise of distributable reserves of £2,401,734 (2020: £2,294,429) and non-distributable reserves of £7,633,485 (2020: £8,944,437) which relate to property revaluations less related deferred tax provision.