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No description of principal activity
2021-01-01
Sage Accounts Production Advanced 2020 - FRS102_2019
18,500
18,500
18,500
43,634
43,634
43,634
xbrli:pure
xbrli:shares
iso4217:GBP
03774533
2021-01-01
2021-12-31
03774533
2021-12-31
03774533
2020-12-31
03774533
bus:Director1
2021-01-01
2021-12-31
03774533
bus:Director2
2021-01-01
2021-12-31
03774533
core:WithinOneYear
2021-12-31
03774533
core:WithinOneYear
2020-12-31
03774533
core:ShareCapital
2021-12-31
03774533
core:ShareCapital
2020-12-31
03774533
core:RetainedEarningsAccumulatedLosses
2021-12-31
03774533
core:RetainedEarningsAccumulatedLosses
2020-12-31
03774533
core:CostValuation
core:Non-currentFinancialInstruments
2021-12-31
03774533
core:Non-currentFinancialInstruments
2021-12-31
03774533
core:Non-currentFinancialInstruments
2020-12-31
03774533
core:LandBuildings
2021-12-31
03774533
core:LandBuildings
2020-12-31
03774533
bus:SmallEntities
2021-01-01
2021-12-31
03774533
bus:AuditExemptWithAccountantsReport
2021-01-01
2021-12-31
03774533
bus:FullAccounts
2021-01-01
2021-12-31
03774533
bus:SmallCompaniesRegimeForAccounts
2021-01-01
2021-12-31
03774533
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
COMPANY REGISTRATION NUMBER:
03774533
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 December 2021
Fixed assets
Tangible assets |
4 |
18,500 |
18,500 |
Investments |
5 |
43,634 |
43,634 |
|
--------- |
--------- |
|
62,134 |
62,134 |
|
|
|
|
Current assets
Debtors |
6 |
113 |
368 |
Cash at bank and in hand |
4,609 |
4,991 |
|
------- |
------- |
|
4,722 |
5,359 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
870 |
810 |
|
------- |
------- |
Net current assets |
3,852 |
4,549 |
|
--------- |
--------- |
Total assets less current liabilities |
65,986 |
66,683 |
|
--------- |
--------- |
Net assets |
65,986 |
66,683 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
65,984 |
66,681 |
|
--------- |
--------- |
Shareholders funds |
65,986 |
66,683 |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 December 2021
These financial statements were approved by the
board of directors
and authorised for issue on
15 August 2022
, and are signed on behalf of the board by:
Mr F Sobhanpanah |
Mr G Hamza |
Director |
Director |
|
|
Company registration number:
03774533
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Western Road, Hove, BN3 1FA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. No material uncertainties related to conditions that may cast doubt about the ability of the company to continue as a going concern have been identified by the directors.
Going concern
The COVID-19 pandemic continues to have a minimal impact on the company's finances after the year end. The directors have confirmed that, in their opinion, the pandemic will not affect the company's ability to continue in business as a going concern for the foreseeable future.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - investment property valuations
Revenue recognition
Turnover represents amounts invoiced, net of value added tax, derived from the company's principal activity. Rental income is recognised over the term of the lease on a straight-line basis. The aggregate cost of incentives is deducted from the rental income and allocated to the profit and loss account over the lease term or to the next review date, whichever is shorter. Sales income and asset management fees are recognised when the financial risks and rewards are transferred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
|
Land and buildings |
|
£ |
Cost |
|
At 1 January 2021 and 31 December 2021 |
18,500 |
|
--------- |
Depreciation |
|
At 1 January 2021 and 31 December 2021 |
– |
|
--------- |
Carrying amount |
|
At 31 December 2021 |
18,500 |
|
--------- |
At 31 December 2020 |
18,500 |
|
--------- |
|
|
Tangible assets held at valuation
The investment properties were valued by the directors on an open market value basis at 31 December 2021. No depreciation has been provided on investment properties.
5.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 January 2021 and 31 December 2021 |
43,634 |
|
--------- |
Impairment |
|
At 1 January 2021 and 31 December 2021 |
– |
|
--------- |
|
|
Carrying amount |
|
At 31 December 2021 |
43,634 |
|
--------- |
At 31 December 2020 |
43,634 |
|
--------- |
|
|
The company owns 100% of the issued share capital of Coolwaters Ltd and Caspian Properties (South East) Ltd, companies incorporated in England & Wales.
Aggregate capital and reserves
Coolwaters Ltd - at 31/12/21
£682,108
(2020: £624,242)
Caspian Properties (SE) Ltd - at 31/12/21
£80,653
(2020: £76,234)
Profit and (loss) for the year
Coolwaters Ltd - 2021
£57,866
(2020: £63,574)
Caspian Properties (SE) Ltd - 2021
£4,419
(2020: £1,115)
The company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
6.
Debtors
|
2021 |
2020 |
|
£ |
£ |
Trade debtors |
113 |
75 |
Other debtors |
– |
293 |
|
---- |
---- |
|
113 |
368 |
|
---- |
---- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2021 |
2020 |
|
£ |
£ |
Other creditors |
870 |
810 |
|
---- |
---- |
|
|
|