Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31false0Buying and selling of own real estate2022-06-270falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14198751 2022-06-26 14198751 2022-06-27 2023-05-31 14198751 2021-06-27 2022-06-26 14198751 2023-05-31 14198751 c:CompanySecretary1 2022-06-27 2023-05-31 14198751 c:Director1 2022-06-27 2023-05-31 14198751 c:Director1 2023-05-31 14198751 c:Director2 2022-06-27 2023-05-31 14198751 c:Director2 2023-05-31 14198751 c:Director3 2022-06-27 2023-05-31 14198751 c:Director3 2023-05-31 14198751 c:Director4 2022-06-27 2023-05-31 14198751 c:Director4 2023-05-31 14198751 c:Director5 2022-06-27 2023-05-31 14198751 c:Director5 2023-05-31 14198751 c:Director6 2022-06-27 2023-05-31 14198751 c:Director6 2023-05-31 14198751 c:RegisteredOffice 2022-06-27 2023-05-31 14198751 d:LeaseholdInvestmentProperty 2022-06-27 2023-05-31 14198751 d:LeaseholdInvestmentProperty 2023-05-31 14198751 d:CurrentFinancialInstruments 2023-05-31 14198751 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14198751 d:ShareCapital 2023-05-31 14198751 d:RetainedEarningsAccumulatedLosses 2023-05-31 14198751 c:FRS102 2022-06-27 2023-05-31 14198751 c:AuditExempt-NoAccountantsReport 2022-06-27 2023-05-31 14198751 c:FullAccounts 2022-06-27 2023-05-31 14198751 c:PrivateLimitedCompanyLtd 2022-06-27 2023-05-31 14198751 e:PoundSterling 2022-06-27 2023-05-31 iso4217:GBP xbrli:pure
Registered number: 14198751














TOPLAND VINTAGE RETAIL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 MAY 2023

 
TOPLAND VINTAGE RETAIL LIMITED
 
 
COMPANY INFORMATION


Directors
T D O'Beirne (appointed 4 April 2023)
S B Benaim (appointed 27 June 2022)
T R Betts (appointed 27 June 2022)
D E H Sanderson (appointed 23 February 2023)
B N Zakay (appointed 1 November 2022)
S Zakay (appointed 27 June 2022)




Company secretary
N F Gliorsi



Registered number
14198751



Registered office
105 Wigmore Street
7th Floor

London

W1U 1QY




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
TOPLAND VINTAGE RETAIL LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 6


 
TOPLAND VINTAGE RETAIL LIMITED
REGISTERED NUMBER:14198751

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
Note
£

Fixed assets
  

Investment property
 4 
6,000,000

  
6,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
73,613

  
73,613

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(6,023,630)

Net current liabilities
  
 
 
(5,950,017)

Total assets less current liabilities
  
49,983

  

Net assets
  
49,983


Capital and reserves
  

Called up share capital 
  
1,000

Profit and loss account
  
48,983

  
49,983


Page 1

 
TOPLAND VINTAGE RETAIL LIMITED
REGISTERED NUMBER:14198751
    
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: 9 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
TOPLAND VINTAGE RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Topland Vintage Retail 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.

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

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'.

 
2.3

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. 

Page 3

 
TOPLAND VINTAGE RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

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.

  
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.8

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.

 
2.9

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.

Page 4

 
TOPLAND VINTAGE RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

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

Page 5

 
TOPLAND VINTAGE RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

4.


Investment property


Investment property

£



Valuation


Additions at cost
6,000,000



At 31 May 2023
6,000,000

The investment property was valued at 31 May 2023 by the directors on a fair value basis.





5.


Debtors

2023
£


Amounts owed by group undertakings
73,613

73,613



6.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
5,999,370

Corporation tax
12,307

Accruals and deferred income
11,953

6,023,630



7.


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.


8.


Controlling party

The immediate and ultimate parent undertaking is Topland Vintage Holdings Limited, a company
registered in Gibraltar, with its registered office address at Madison Building, Midtown, Queensway,
Gibraltar, GX11 1AA.

 
Page 6