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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Directors' report |
4 |
Independent auditor's report to the member |
6 |
Consolidated statement of comprehensive income |
10 |
Consolidated statement of financial position |
11 |
Company statement of financial position |
12 |
Consolidated statement of changes in equity |
13 |
Company statement of changes in equity |
14 |
Consolidated statement of cash flows |
15 |
Notes to the financial statements |
16 |
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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United Kingdom |
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Auditor |
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Chartered Accountants & Statutory Auditors |
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173 Cleveland Street |
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London |
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UK |
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W1T 6QR |
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Strategic Report |
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Director |
Director |
Registered office: |
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United Kingdom |
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Directors' Report |
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Director |
Director |
Registered office: |
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United Kingdom |
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Independent Auditor's Report to the Member of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Accountants & Statutory Auditors |
173 Cleveland Street |
London |
UK |
W1T 6QR |
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Consolidated Statement of Comprehensive Income |
2021 |
2020 |
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Note |
£ |
£ |
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Turnover |
4 |
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Cost of sales |
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------------ |
------------- |
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Gross profit |
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Administrative expenses |
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------------ |
------------ |
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Operating profit |
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Other interest receivable and similar income |
7 |
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Interest payable and similar expenses |
8 |
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------------ |
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Profit before taxation |
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Tax on profit |
9 |
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Profit for the financial year and total comprehensive income |
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------------ |
------------ |
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Consolidated Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
Tangible assets |
11 |
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– |
Stocks |
13 |
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Debtors |
14 |
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Cash at bank and in hand |
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------------- |
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Creditors: amounts falling due within one year |
15 |
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Net current assets |
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------------ |
------------ |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
16 |
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Net assets |
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------------ |
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Called up share capital |
17 |
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Profit and loss account |
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------------ |
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Shareholder funds |
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------------ |
------------ |
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Director |
Director |
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Company Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
Investments |
12 |
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Debtors |
14 |
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Cash at bank and in hand |
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------------ |
--------- |
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Creditors: amounts falling due within one year |
15 |
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Net current liabilities |
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------------- |
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Total assets less current liabilities |
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(
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------------ |
-------- |
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Net assets/(liabilities) |
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(
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------------ |
-------- |
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Called up share capital |
17 |
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Profit and loss account |
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(
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------------ |
-------- |
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Shareholder funds/(deficit) |
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(
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------------ |
-------- |
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Director |
Director |
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Consolidated Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 January 2020 |
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Profit for the year |
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---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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At 31 December 2020 |
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Profit for the year |
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---- |
------------ |
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Total comprehensive income for the year |
– |
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---- |
------------ |
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At 31 December 2021 |
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---- |
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Company Statement of Changes in Equity |
Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 1 January 2020 |
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(
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(
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Loss for the year |
(
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(
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---- |
-------- |
-------- |
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Total comprehensive income for the year |
– |
(
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(
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At 31 December 2020 |
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(
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(
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Profit for the year |
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---- |
------------ |
------------ |
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Total comprehensive income for the year |
– |
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---- |
------------ |
------------ |
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At 31 December 2021 |
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---- |
------------ |
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Consolidated Statement of Cash Flows |
2021 |
2020 |
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£ |
£ |
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Profit for the financial year |
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Adjustments for: |
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
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Tax on profit/(loss) |
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Accrued expenses |
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Changes in: |
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Stocks and tangible assets |
(
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(
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Trade and other debtors |
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(
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Trade and other creditors |
(
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------------- |
------------ |
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Cash generated from operations |
(
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(
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Interest paid |
(
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(
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Interest received |
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Tax paid |
(
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(
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------------- |
------------ |
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Net cash used in operating activities |
(
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(
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------------- |
------------ |
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Proceeds from borrowings |
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Proceeds from loans from group undertakings |
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------------- |
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Net cash from financing activities |
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------------- |
------------ |
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Net (decrease)/increase in cash and cash equivalents |
(
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Cash and cash equivalents at beginning of year |
2,659,868 |
1,882,758 |
------------ |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
2021 |
2020 |
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£ |
£ |
|
Property sales |
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Rental income |
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Ground rent |
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Insurance income |
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Service charge income |
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Satellite income |
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Sinking fund |
– |
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Other income |
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Reservation deposits retained |
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------------ |
------------- |
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------------ |
------------- |
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2021 |
2020 |
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£ |
£ |
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Fees payable for the audit of the financial statements |
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-------- |
-------- |
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2021 |
2020 |
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No. |
No. |
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Number of directors |
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---- |
---- |
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2021 |
2020 |
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£ |
£ |
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Other interest receivable and similar income |
|
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---- |
---- |
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2021 |
2020 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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Other interest payable and similar charges |
– |
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--------- |
--------- |
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--------- |
--------- |
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2021 |
2020 |
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£ |
£ |
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UK current tax income |
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Adjustments in respect of prior periods |
– |
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--------- |
--------- |
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Total current tax |
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--------- |
--------- |
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Tax on profit/(loss) |
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--------- |
--------- |
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2021 |
2020 |
|
£ |
£ |
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Profit on ordinary activities before taxation |
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------------ |
------------ |
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Profit on ordinary activities by rate of tax |
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Adjustment to tax charge in respect of prior periods |
– |
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Group and consortium relief |
(
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(
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Payment of consortium relief |
– |
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------------ |
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Tax on profit/(loss) |
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------------ |
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Group |
Investment property |
£ |
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Valuation |
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At 1 January 2021 |
– |
Transfer from stock |
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------------ |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 and 31 December 2021 |
– |
------------ |
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Carrying amount |
|
At 31 December 2021 |
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------------ |
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At 31 December 2020 |
– |
------------ |
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Company |
Shares in group undertakings |
Loans to group undertakings |
Total |
£ |
£ |
£ |
|
Cost |
|||
At 1 January 2021 |
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Additions |
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Repayments |
– |
(
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(
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------- |
------------- |
------------- |
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At 31 December 2021 |
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------- |
------------- |
------------- |
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Impairment |
|||
At 1 January 2021 and 31 December 2021 |
– |
– |
– |
------- |
------------- |
------------- |
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Carrying amount |
|||
At 31 December 2021 |
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------- |
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At 31 December 2020 |
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------- |
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Class of share |
Percentage of shares held |
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Subsidiary undertakings |
||
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Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
|
Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
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Ordinary |
100 |
Group |
Company |
|||
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
|
Closing stock of development properties |
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– |
– |
------------- |
------------- |
---- |
---- |
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Group |
Company |
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2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
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Trade debtors |
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– |
– |
Amounts owed by group undertakings |
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Prepayments and accrued income |
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– |
– |
Other debtors |
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– |
– |
------------ |
------------ |
------------ |
--------- |
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------------ |
------------ |
------------ |
--------- |
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Group |
Company |
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2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
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– |
– |
Trade creditors |
|
|
– |
– |
Amounts owed to group undertakings |
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Accruals and deferred income |
|
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Corporation tax |
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– |
– |
Other creditors |
|
|
– |
– |
------------- |
------------- |
------------- |
------------- |
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------------- |
------------- |
------------- |
------------- |
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Group |
Company |
|||
2021 |
2020 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
|
Bank loans and overdrafts |
|
|
– |
– |
------------ |
------------ |
---- |
---- |
|
2021 |
2020 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
---- |
---- |
---- |
---- |
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At 1 Jan 2021 |
Cash flows |
At 31 Dec 2021 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(1,767,390) |
|
Debt due within one year |
(26,284,000) |
(8,971,656) |
(35,255,656) |
Debt due after one year |
(1,950,000) |
(390,000) |
(2,340,000) |
------------- |
------------- |
------------- |
|
(
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(
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(
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------------- |
------------- |
------------- |
|
2021 | 2020 | ||
£ | £ | ||
Construction costs recharge | 5,745,578 | 3,032,660 | |
Senior management and director fees | 181,000 | 176,300 | |
Other fees | 1,312,937 | 866,694 | |
------------ | ------------ | ||
7,239,515 | 4,075,653 | ||
------------ | ------------ | ||