COMPANY REGISTRATION NUMBER:
02655822
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
30 April 2023
FIXED ASSETS
Investments |
4 |
|
20,006 |
|
20,006 |
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
5 |
(
23,144) |
|
(
23,144) |
|
|
-------- |
|
-------- |
|
NET CURRENT LIABILITIES |
|
(
23,144) |
|
(
23,144) |
|
|
-------- |
|
-------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
(
3,138) |
|
(
3,138) |
|
|
------- |
|
------- |
|
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
2 |
|
2 |
Profit and loss account |
|
(
3,140) |
|
(
3,140) |
|
|
------- |
|
------- |
SHAREHOLDERS DEFICIT |
|
(
3,138) |
|
(
3,138) |
|
|
------- |
|
------- |
|
|
|
|
|
These 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 income statement has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
31 January 2024
, and are signed on behalf of the board by:
Company registration number:
02655822
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 30 APRIL 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
2.
Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders deficit during the current year or prior year.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 May 2022 and 30 April 2023 |
20,006 |
|
-------- |
Impairment |
|
At 1 May 2022 and 30 April 2023 |
– |
|
-------- |
|
|
Carrying amount |
|
At 30 April 2023 |
20,006 |
|
-------- |
At 30 April 2022 |
20,006 |
|
-------- |
|
|
Subsidiaries, associates and other investments
|
Class of share |
Percentage of shares held |
Subsidiary undertakings |
|
|
Parkes Hotel Limited |
Ordinary |
100 |
Sloane Apartments Limited |
Ordinary |
100 |
Capital On Site Ltd |
Ordinary |
100 |
Capital On Site Properties Limited |
Ordinary |
100 |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
23,144 |
23,144 |
|
-------- |
-------- |
|
|
|
6.
Controlling party
The company was under the control of Mr Nygren throughout the current and previous year. Mr Nygren is a director of the company and owns the entire issued ordinary share capital of the company.