Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | - | ||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current liabilities | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholders' funds | ( |
( |
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A Alexandrou | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Stocks | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
2 | Going concern | |||||||
The accounts have been prepared on the going concern basis assuming the continued support of its directors, connected companies and the bank facilities it has available. | ||||||||
3 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts owed by associated companies | ||||||||
Clawback of joint venture overpayment | 514,476 | 514,476 | ||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Amounts owed to connected companies | ||||||||
Other creditors | ||||||||
6 | Loans | 2022 | 2021 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans | 492,299 | 197,694 | ||||||
First legal charge over the freehold property of the company, known as Friday Hill House, 7 Simmons Lane, London, E4 6JH. Debenture over the company's assets. |
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7 | Related party transactions | |||||||
Southern Territory (UK) Limited - £859,676 (2021 - £665,876) Atlantic (Hertford) Limited - £792,371 (2021 - £764,371) Aspire Nation Limited - £45,200 (2021 - £45,200) Atlantic Developments (Cudworth) Ltd - £173,800 (2021 - £96,000) STUK04 Ltd - £194,281 (2021 - £194,281) STUK05 Ltd - £3,800 (2021 - £Nil) STUK06 Ltd - £865,854 (2021 - £855,854) STUK07 Ltd - £26,500 (2021 - £20,000) STUK10 Ltd - £501,300 (2021 - £533,000) STUK11 Ltd - £5,000 (2021 - £Nil) Marlyn Properties Ltd - £576,701 (£Nil) These are companies in which the director/directors have a controlling interest. These loans were made on an interest free basis. During the year the company was loaned the following amounts: Southern Territory Limited - £2,806,632 (2021 - £2,811,632) Atlantic Lodge (Housing) Limited - £3,023,374 (2021 - £3,501,762) Icospec Limited - £214,500 (2021 - £218,000) These are companies in which the directors have a controlling interest. Interest is charged on the loans from Southern Territory Limited and Atlantic Lodge (Housing) Limited at 10% per annum and the repayment date was to be made on or before 12 January 2020. As this period has expired, the loans are due on demand. |
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8 | Controlling party | |||||||
The remaining 20% of shares is held by Southern Territory (UK) Limited, a company in which A Alexandrou is a director and controlling shareholder. |
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9 | Other information | |||||||
Friday Hill House Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Atlantic Business Centre | ||||||||
1 The Green | ||||||||
London | ||||||||
E4 7ES |