COMPANY REGISTRATION NUMBER:
11745196
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
|
31 October 2022
FIXED ASSETS
CURRENT ASSETS
Debtors |
6 |
10,109,372 |
|
4,461,013 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
(
3,053,974) |
|
(
8,578) |
|
|
--------------- |
|
------------- |
|
NET CURRENT ASSETS |
|
7,055,398 |
|
4,452,435 |
|
|
------------- |
|
------------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
7,055,448 |
|
4,452,485 |
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
|
(
7,055,337) |
|
(
4,437,704) |
|
|
------------- |
|
------------- |
NET ASSETS |
|
111 |
|
14,781 |
|
|
------------- |
|
------------- |
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
100 |
|
100 |
Profit and loss account |
|
11 |
|
14,681 |
|
|
---- |
|
--------- |
SHAREHOLDERS FUNDS |
|
111 |
|
14,781 |
|
|
---- |
|
--------- |
|
|
|
|
|
These abridged 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 abridged profit and loss account has not been delivered.
For the year ending 31 October 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 abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged profit and loss account and the balance sheet for the year ending 31 October 2022 in accordance with Section 444(2A) of the Companies Act 2006.
BALANCE SHEET (continued) |
|
31 October 2022
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 October 2023
, and are signed on behalf of the board by:
Company registration number:
11745196
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 OCTOBER 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 New Burlington House, 1075 Finchley Road, London, NW11 0PU.
2.
STATEMENT OF COMPLIANCE
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The directors do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investments in participating interests
Investments in joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. The Company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to nil.
5.
INVESTMENTS
|
£ |
Cost |
|
At 1 November 2021 and 31 October 2022 |
50 |
|
---- |
Impairment |
|
At 1 November 2021 and 31 October 2022 |
– |
|
---- |
Carrying amount |
|
At 31 October 2022 |
50 |
|
---- |
At 31 October 2021 |
50 |
|
---- |
|
|
6.
DEBTORS
Debtors include amounts of £7,620,706 (2021: £4,461,013) falling due after more than one year.
7.
OTHER FINANCIAL COMMITMENTS
The company has granted a charge over its shares in the participating interest to the bank lender of the participating interest.
8.
RELATED PARTY TRANSACTIONS
The company holds directly 50% of the issued share capital of Ringhurst Limited, a company incorporated in England and Wales. Included in debtors are amounts aggregating £4,690,660 due from Ringhurst Limited which bears interest at 3.1% per annum. Included in other creditors are amounts aggregating £5,613 due to a company which has a director in common with this company. The company has taken advantage of the exemption conferred by FRS 102 Section 1A and has not disclosed details of transactions with group member undertakings.