COMPANY REGISTRATION NUMBER:
08200006
FILLETED FINANCIAL STATEMENTS |
|
Year ended 31 December 2023
Notes to the financial statements |
2 |
|
|
31 December 2023
FIXED ASSETS
CREDITORS: amounts falling due within one year |
5 |
(
9,440) |
(
4,420) |
|
------- |
------- |
NET CURRENT LIABILITIES |
(
9,440) |
(
4,420) |
|
------- |
------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
(
8,617) |
(
3,597) |
|
------- |
------- |
NET LIABILITIES |
(
8,617) |
(
3,597) |
|
------- |
------- |
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
1,000 |
1,000 |
Profit and loss account |
(
9,617) |
(
4,597) |
|
------- |
------- |
SHAREHOLDERS FUNDS |
(
8,617) |
(
3,597) |
|
------- |
------- |
|
|
|
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 profit and loss account has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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
30 August 2024
, and are signed on behalf of the board by:
Company registration number:
08200006
NOTES TO THE FINANCIAL STATEMENTS |
|
Year ended 31 December 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 c/o Acuity Legal Limited, 3 Assembly Square, Britannia Quay, Cardiff, CF10 4PL. The principal place of business is 76 Cannon Street, London, EC4N 6AE.
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.
Going concern
The accounts show that the company had net liabilities of £8,617 (2022 - £3,597) at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis. The company has been able to finance its operations largely because of support from the directors and other creditors. Were this support not available, the company may not be able to continue trading. The directors are confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of these creditors. They therefore consider it appropriate to prepare the accounts on the going concern basis.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
INVESTMENTS
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
823 |
|
---- |
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 December 2023 |
823 |
|
---- |
At 31 December 2022 |
823 |
|
---- |
|
|
5.
CREDITORS:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
9,440 |
4,420 |
|
------- |
------- |
|
|
|
6.
SUMMARY AUDIT OPINION
The auditor's report for the year dated
6 September 2024
was
unqualified
.
The senior statutory auditor was
Ataf Salim
, for and on behalf of
Kilsby & Williams LLP
.
7.
RELATED PARTY TRANSACTIONS
The company has taken advantage of the exemption provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions between wholly owned members of the same group.
8.
CONTROLLING PARTY
The parent undertaking of the smallest group, which includes the company, is Verdion Group Limited, a company registered in Jersey. The parent undertaking of the largest group, which includes the company, is MJH Capital Ltd, a company registered in Jersey.