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REGISTERED NUMBER: 08346731 (England and Wales)














REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

ST VINCENT ESTATES LIMITED

ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Report of the Directors 2

Statement of Comprehensive Income 3

Statement of Financial Position 4

Statement of Changes in Equity 5

Notes to the Financial Statements 6


ST VINCENT ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: P Gubbay
Mrs L Khalastchi





SECRETARY: Ms S Zainuddin





REGISTERED OFFICE: 7 Praed Street
London
W2 1NJ





REGISTERED NUMBER: 08346731 (England and Wales)






ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2023


The directors present their report with the financial statements of the company for the year ended 31st March 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2022 to the date of this report.

P Gubbay
Mrs L Khalastchi

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Gubbay - Director


16th November 2023

ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31ST MARCH 2023

2023 2022
Notes £ £

TURNOVER 47,570 297,928

Administrative expenses (316,254 ) (38,700 )
(268,684 ) 259,228

Other operating income 180,000 -
Gain/loss on revaluation of investment property (1,500,000 ) -
OPERATING (LOSS)/PROFIT (1,588,684 ) 259,228

Interest receivable and similar income 170 58
(LOSS)/PROFIT BEFORE TAXATION (1,588,514 ) 259,286

Tax on (loss)/profit 4 - (47,867 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (1,588,514 ) 211,419

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE (LOSS)/INCOME FOR
THE YEAR

(1,588,514

)

211,419

ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

2023 2022
Notes £
FIXED ASSETS
Investment property 5 1,500,000 3,000,000

CURRENT ASSETS
Debtors 6 168,759 819,554
Cash at bank 541,030 567,338
709,789 1,386,892
CREDITORS
Amounts falling due within one year 7 (1,685,256 ) (2,273,845 )
NET CURRENT LIABILITIES (975,467 ) (886,953 )
TOTAL ASSETS LESS CURRENT LIABILITIES 524,533 2,113,047

CAPITAL AND RESERVES
Called up share capital 8 30 30
Retained earnings 9 524,503 2,113,017
SHAREHOLDERS' FUNDS 524,533 2,113,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 16th November 2023 and were signed on its behalf by:





P Gubbay - Director


ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST MARCH 2023

Called up
share Retained Total
capital earnings equity
£ £ £

Balance at 1st April 2021 30 1,901,598 1,901,628

Changes in equity
Total comprehensive income - 211,419 211,419
Balance at 31st March 2022 30 2,113,017 2,113,047

Changes in equity
Total comprehensive loss - (1,588,514 ) (1,588,514 )
Balance at 31st March 2023 30 524,503 524,533

ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

St Vincent Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents rental income received, net of value added tax.

Investment property
Acquisitions and disposals of investment property are recognised upon legal completion of contracts, when the risks and rewards of ownership are transferred. Investment properties cease to be recognised when they have been disposed of or withdrawn permanently from use and no future economic benefit is expected from disposal.

Investment property is measured initially at cost including directly attributable transaction costs. Subsequent to initial recognition, investment property is stated at fair value which has been determined by an independent valuer with a recognised and relevant professional qualification and with recent experience in the location and category of the investment property being valued. The value has been included in the balance sheet at fair value by management in accordance with the independent valuation result.The aggregate surplus or deficit arising from changes in fair value is recognised in the statement of comprehensive income. No depreciation is provided.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial assets
Financial assets other than investments and derivatives are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.

Financial liabilities and equity
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding derivatives are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax - 47,867
Tax on (loss)/profit - 47,867

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1st April 2022 3,000,000
Revaluations (1,500,000 )
At 31st March 2023 1,500,000
NET BOOK VALUE
At 31st March 2023 1,500,000
At 31st March 2022 3,000,000

Investment properties have been included in the balance sheet at fair value which was calculated by management in accordance with the company's valuation policies. Values are derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors (4,182 ) 623,173
Other debtors 42,448 66,336
VAT 617 -
Prepayments and accrued income 129,876 130,045
168,759 819,554

ST VINCENT ESTATES LIMITED (REGISTERED NUMBER: 08346731)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 126,466 56,620
Tax - 47,867
VAT - 10,243
Other creditors 1,525,572 2,136,792
Accruals and deferred income 33,218 22,323
1,685,256 2,273,845

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
30 Ordinary £1 30 30

9. RESERVES
Retained
earnings
£

At 1st April 2022 2,113,017
Deficit for the year (1,588,514 )
At 31st March 2023 524,503

10. ULTIMATE CONTROLLING PARTY

The company was controlled by the directors during the year.