Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2023 | 2022 | |||||
£ | £ | ||||||
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 | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
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 | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans and overdrafts | - | |||||||
Trade creditors | ||||||||
Amounts owed to connected companies | ||||||||
Other creditors | ||||||||
6 | Loans | 2023 | 2022 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans | - | 492,299 | ||||||
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 - £782,176 (2022 - £859,676) Atlantic (Hertford) Limited - £787,871 (2022 - £792,371) Aspire Nation Limited - £Nil (2022 - £45,200) Atlantic Developments (Cudworth) Ltd - £106,400 (2022 - £173,800) STUK04 Ltd - £194,281 (2022 - £194,281) STUK05 Ltd - £2,600 (2022 - £3,800) STUK06 Ltd - £865,854 (2022 - £865,854) STUK07 Ltd - £26,500 (2022 - £26,500) STUK10 Ltd - £464,300 (2022 - £501,300) STUK11 Ltd - £5,000 (2022 - £5,000) STUK09 Ltd - £380,096 (2022 - £Nil) Marlyn Properties Ltd - £576,701 (2022 - £576,701) 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 included in creditors: Southern Territory Limited - £2,806,132 (2022 - £2,806,632) Atlantic Lodge (Housing) Limited - £3,129,534 (2022 - £3,023,374) Icospec Limited - £219,900 (2022 - £214,500) These are companies in which the directors have a controlling interest. Loans from Southern Territory Limited and Atlantic Lodge (Housing) Limited were due for repayment 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 |