Company Registration No. 13076764 (England and Wales)
171 Cromwell Road Ltd
Unaudited accounts
for the year ended 31 December 2022
171 Cromwell Road Ltd
Unaudited accounts
Contents
171 Cromwell Road Ltd
Company Information
for the year ended 31 December 2022
Directors
Mrs J Rassam
Mr L Rassam
Mr Z Rassam
Company Number
13076764 (England and Wales)
Registered Office
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
England
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
171 Cromwell Road Ltd
Statement of financial position
as at 31 December 2022
Investment property
16,151,082
16,151,182
Cash at bank and in hand
15,169
-
Creditors: amounts falling due within one year
(17,341,250)
(17,148,154)
Net current liabilities
(16,089,413)
(16,162,337)
Net assets/(liabilities)
61,669
(11,155)
Called up share capital
1
1
Profit and loss account
61,668
(11,156)
Shareholders' funds
61,669
(11,155)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by
Mr Z Rassam
Director
Company Registration No. 13076764
171 Cromwell Road Ltd
Notes to the Accounts
for the year ended 31 December 2022
171 Cromwell Road Ltd is a private company, limited by shares, registered in England and Wales, registration number 13076764. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Foreign currency translation
Functional and presentation currency
The Company's functional and presentational currency is GBP and rounded to nearest £.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
171 Cromwell Road Ltd
Notes to the Accounts
for the year ended 31 December 2022
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Investment property is included at market fair value. Gains are recognised in the income statement. .
Fair value at 1 January 2022
16,151,182
At 31 December 2022
16,151,082
171 Cromwell Road Ltd
Notes to the Accounts
for the year ended 31 December 2022
Amounts falling due within one year
Amounts due from group undertakings etc.
1,087,216
853,958
Accrued income and prepayments
10,696
8,026
Other debtors
5,891
123,833
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
22,853
1,513
Amounts owed to group undertakings and other participating interests
17,268,066
17,131,447
Taxes and social security
48,449
13,409
7
Average number of employees
During the year the average number of employees was 3 (2021: 3).