Company registration number 06793278 (England and Wales)
SUBLIME LAND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
SUBLIME LAND LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SUBLIME LAND LIMITED
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
1,241
110
Cash at bank and in hand
28,700
37,415
29,941
37,525
Creditors: amounts falling due within one year
4
(4,840,135)
(4,841,535)
Net current liabilities
(4,810,194)
(4,804,010)
Capital and reserves
Called up share capital
5
110
110
Profit and loss reserves
(4,810,304)
(4,804,120)
Total equity
(4,810,194)
(4,804,010)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 12 September 2022
T Otway
Director
Company Registration No. 06793278
SUBLIME LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
- 2 -
1
Accounting policies
Company information
Sublime Land Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Elmfield Park, Bromley, Kent, BR1 1LU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Sublime Land Limited is a wholly owned subsidiary of Lindon Capital Ltd, a company registered in the British Virgin Islands.
1.2
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future as the shareholder will not seek to recover loans unless circumstances permit. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
SUBLIME LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Unpaid share capital
110
110
Other debtors
1,131
1,241
110
4
Creditors: amounts falling due within one year
2022
2021
£
£
Amounts owed to group undertakings
4,838,535
4,838,535
Accruals and deferred income
1,600
3,000
4,840,135
4,841,535
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary A shares of £1 each
100
100
100
100
Ordinary B shares of £1 each
10
10
10
10
110
110
110
110
6
Related party transactions
The company has taken advantage of the exemption under the terms of FRS102 not to disclose related party transactions with wholly owned subsidiaries within the group.true