Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31false2022-03-03The principal activity of the company was that of buying and selling of own real estates00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13952088 2022-03-02 13952088 2022-03-03 2023-05-31 13952088 2021-03-03 2022-03-02 13952088 2023-05-31 13952088 c:CompanySecretary1 2022-03-03 2023-05-31 13952088 c:Director1 2022-03-03 2023-05-31 13952088 c:Director1 2023-05-31 13952088 c:Director2 2022-03-03 2023-05-31 13952088 c:Director2 2023-05-31 13952088 c:Director3 2022-03-03 2023-05-31 13952088 c:Director3 2023-05-31 13952088 c:Director4 2022-03-03 2023-05-31 13952088 c:Director4 2023-05-31 13952088 c:Director5 2022-03-03 2023-05-31 13952088 c:Director5 2023-05-31 13952088 c:Director6 2022-03-03 2023-05-31 13952088 c:Director6 2023-05-31 13952088 c:Director7 2022-03-03 2023-05-31 13952088 c:Director7 2023-05-31 13952088 c:RegisteredOffice 2022-03-03 2023-05-31 13952088 d:FreeholdInvestmentProperty 2022-03-03 2023-05-31 13952088 d:FreeholdInvestmentProperty 2023-05-31 13952088 d:FreeholdInvestmentProperty 2 2022-03-03 2023-05-31 13952088 d:CurrentFinancialInstruments 2023-05-31 13952088 d:Non-currentFinancialInstruments 2023-05-31 13952088 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13952088 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 13952088 d:ShareCapital 2023-05-31 13952088 d:RetainedEarningsAccumulatedLosses 2023-05-31 13952088 c:FRS102 2022-03-03 2023-05-31 13952088 c:AuditExempt-NoAccountantsReport 2022-03-03 2023-05-31 13952088 c:FullAccounts 2022-03-03 2023-05-31 13952088 c:PrivateLimitedCompanyLtd 2022-03-03 2023-05-31 iso4217:GBP xbrli:pure
Registered number: 13952088














TOPLAND VINTAGE (NO.5) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 MAY 2023

 
TOPLAND VINTAGE (NO.5) LIMITED
 
 
COMPANY INFORMATION


Directors
S B Benaim (appointed 3 March 2022)
T D O'Beirne (appointed 3 March 2022)
S Zakay (appointed 3 March 2022)
C F Moharm (appointed 3 March 2022, resigned 13 January 2023)
B N Zakay (appointed 1 November 2022)
T R Betts (appointed 9 February 2023)
D E H Sanderson (appointed 23 March 2023)




Company secretary
N Franchini Gliorsi



Registered number
13952088



Registered office
105 Wigmore Street
7th Floor

London

England

W1U 1QY




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
TOPLAND VINTAGE (NO.5) LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
TOPLAND VINTAGE (NO.5) LIMITED
REGISTERED NUMBER:13952088

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
Note
£

Fixed assets
  

Investment property
 4 
3,332,152

  
3,332,152

Current assets
  

Debtors: amounts falling due within one year
 5 
200,989

Cash at bank and in hand
  
123

  
201,112

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(954,873)

Net current liabilities
  
 
 
(753,761)

Total assets less current liabilities
  
2,578,391

Creditors: amounts falling due after more than one year
  
(3,000,000)

  

Net liabilities
  
(421,609)


Capital and reserves
  

Called up share capital 
  
1,000

Profit and loss account
  
(422,609)

  
(421,609)


Page 1

 
TOPLAND VINTAGE (NO.5) LIMITED
REGISTERED NUMBER:13952088
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T D O'Beirne
Director

Date: 1 December 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TOPLAND VINTAGE (NO.5) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Topland Vintage (No.5) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 105 Wigmore Street, 7th Floor, London, England, W1U 1QY.
The principal activity of the company for the period was that of property investment.
The company was incorporated on 3 March 2022 and commenced trading on 1 June 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company will have the continued support from its group members and has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

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 profit or loss 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 Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TOPLAND VINTAGE (NO.5) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable.
Turnover comprises rent receivable during the year.
Rent receivable is recognised on a straight-line basis over the period of the lease. 

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Investment property

Investment property is carried at fair value determined annually by the Directors and 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. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
TOPLAND VINTAGE (NO.5) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.9

Debtors

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.

 
2.10

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.

 
2.11

Creditors

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.

 
2.12

Financial instruments

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 to related parties and investments.

Trade debtors and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors.
 
Cash at bank and in hand comprise cash balances and call deposits.


3.


Employees

The average monthly number of employees, including directors, during the period was 0.

Page 5

 
TOPLAND VINTAGE (NO.5) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

4.


Investment property


Investment property

£



Valuation


Additions at cost
3,802,050


Surplus on revaluation
(469,898)



At 31 May 2023
3,332,152

The directors carried out an internal valuation of the property as at 31 May 2023 using an income capitalisation technique, whereby contracted and market rental values are capitalised with a market capitalisation rate. The resulting valuations are cross-checked against the equivalent yields and the fair market values derived from comparable recent market transactions on arm's length terms. 
The directors anticipate having the investment property periodically valued by an external independent valuer. 




Page 6

 
TOPLAND VINTAGE (NO.5) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Debtors

2023
£


Trade debtors
5,219

Other debtors
195,770

200,989



6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
21,249

Amounts owed to group undertakings
664,566

Corporation tax
11,824

Other taxation and social security
2,744

Accruals and deferred income
254,490

954,873



7.


Creditors: Amounts falling due after more than one year

2023
£

Other loans
3,000,000


The loan is secured by way of a fixed and floating charge over assets of the company.


8.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 '"The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.


9.


Controlling party

The immediate parent undertaking is Topland Vintage Holdings Limited, incorporated in Gibraltar.
There is no ultimate controlling party.

 
Page 7