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Registered number: 01782745










THE SAVOY LATHAM PARTNERSHIP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
THE SAVOY LATHAM PARTNERSHIP LIMITED
REGISTERED NUMBER: 01782745

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
1
1

Investment property
 5 
759,497
735,507

  
759,498
735,508

Current assets
  

Debtors: amounts falling due within one year
 6 
65,252
89,278

Cash at bank and in hand
  
179
143

  
65,431
89,421

Total assets less current liabilities
  
 
 
824,929
 
 
824,929

  

Net assets
  
824,929
824,929


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 7 
(69,433)
(69,433)

Profit and loss account
 7 
894,262
894,262

  
824,929
824,929

Page 1

 
THE SAVOY LATHAM PARTNERSHIP LIMITED
REGISTERED NUMBER: 01782745
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

For the year ended 31 December 2021 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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 the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2022.



T W Brown FCCA CTA FCIS
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
THE SAVOY LATHAM PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 3

 
THE SAVOY LATHAM PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2021
1



At 31 December 2021
1





5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2021
735,507


Additions at cost
23,990



At 31 December 2021
759,497

The 2021 valuations were made by the directors, on an open market value for existing use basis.





6.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
60,252
83,798

Other debtors
5,000
5,480

65,252
89,278


Page 4

 
THE SAVOY LATHAM PARTNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Reserves

Other reserves

The Other reserves comprises fair value movements on Investment property.

Profit and loss account

The Profit and loss account comprises accumulated profits available for distribution.

Page 5