REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021 |
FOR |
ST VINCENTS ESTATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021 |
FOR |
ST VINCENTS ESTATES LIMITED |
ST VINCENTS ESTATES LIMITED (REGISTERED NUMBER: 11658790) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ST VINCENTS ESTATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
and Chartered Tax Advisers |
Larch House |
Parklands Business Park |
Denmead |
Hampshire |
PO7 6XP |
ST VINCENTS ESTATES LIMITED (REGISTERED NUMBER: 11658790) |
BALANCE SHEET |
30 NOVEMBER 2021 |
30.11.21 | 30.11.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ST VINCENTS ESTATES LIMITED (REGISTERED NUMBER: 11658790) |
BALANCE SHEET - continued |
30 NOVEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
ST VINCENTS ESTATES LIMITED (REGISTERED NUMBER: 11658790) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
1. | STATUTORY INFORMATION |
St Vincents Estates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements show a net current liability position at the balance sheet date. This position is due to loans from connected companies and company director. The connected companies and the director can legally demand repayment of these loans at anytime but will only seek repayment if the company has sufficient funds to do so. On this basis, the directors have prepared the financial statements on the going concern basis. |
Turnover |
Turnover represents rents receivable in the period net of Value Added Tax. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to property - 20% on cost |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ST VINCENTS ESTATES LIMITED (REGISTERED NUMBER: 11658790) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
4. | TANGIBLE FIXED ASSETS |
Improvements |
to |
property |
£ |
COST |
At 1 December 2020 |
and 30 November 2021 |
DEPRECIATION |
At 1 December 2020 |
Charge for year |
At 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2020 |
Revaluations | 775,102 |
At 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
Fair value at 30 November 2021 is represented by: |
£ |
Valuation in 2021 | 775,102 |
Cost | 624,898 |
1,400,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
30.11.21 | 30.11.20 |
£ | £ |
Cost | 624,898 | 624,898 |
Investment property was valued on an open market basis on 30 November 2021 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Other debtors |
ST VINCENTS ESTATES LIMITED (REGISTERED NUMBER: 11658790) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.21 | 30.11.20 |
£ | £ |
Other loans |
The company's other loans are secured by a first legal charge over the company's investment property and a debenture. |
10. | PROVISIONS FOR LIABILITIES |
30.11.21 | 30.11.20 |
£ | £ |
Deferred tax | 148,234 | 1,312 |
Deferred |
tax |
£ |
Balance at 1 December 2020 |
Provided during year |
Balance at 30 November 2021 |
11. | RELATED PARTY DISCLOSURES |
During the period the company received rent from connected companies totalling £80,004 (30.11.20: £80,004). |
The aggregate amount owed to connected companies at the balance sheet date is £241,779 (30.11.20: £234,788). |
The aggregate amount owed to the directors at the balance sheet date is £5,392 (30.11.20: £4,220). |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |