COMPANY REGISTRATION NUMBER:
00616329
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 July 2022
Fixed assets
Tangible assets |
4 |
|
115,000 |
115,000 |
|
|
|
|
|
Current assets
Creditors: amounts falling due within one year |
6 |
51,520 |
|
50,336 |
|
-------- |
|
-------- |
Net current liabilities |
|
17,658 |
17,173 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
97,342 |
97,827 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
6,000 |
6,000 |
|
|
-------- |
-------- |
Net assets |
|
91,342 |
91,827 |
|
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Fair value reserve |
8 |
|
93,213 |
93,213 |
Profit and loss account |
8 |
|
(
1,971) |
(
1,486) |
|
|
-------- |
-------- |
Shareholders funds |
|
91,342 |
91,827 |
|
|
-------- |
-------- |
|
|
|
|
|
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 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 July 2022
These financial statements were approved by the
board of directors
and authorised for issue on
23 October 2023
, and are signed on behalf of the board by:
Company registration number:
00616329
Notes to the Financial Statements |
|
Year ended 31 July 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
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.
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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
4.Tangible assets
|
Land and buildings |
|
£ |
Cost |
|
At 1 August 2021 and 31 July 2022 |
115,000 |
|
--------- |
Depreciation |
|
At 1 August 2021 and 31 July 2022 |
– |
|
--------- |
Carrying amount |
|
At 31 July 2022 |
115,000 |
|
--------- |
At 31 July 2021 |
115,000 |
|
--------- |
|
|
The investment property is stated at fair value as at 31 July 2021 having considered the open market value of the property. No independent valuation was undertaken.
5.
Debtors
|
2022 |
2021 |
|
£ |
£ |
Other debtors |
33,862 |
33,163 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Other creditors |
51,520 |
50,336 |
|
-------- |
-------- |
|
|
|
7.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
2022 |
2021 |
|
£ |
£ |
Included in provisions |
6,000 |
6,000 |
|
------- |
------- |
|
|
|
8.
Reserves
Fair value reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income which are not available for distribution. Profit and loss account - This reserve records retained earnings and accumulated losses.