REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
IMPERIAL ECDB MANORGATE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
IMPERIAL ECDB MANORGATE LIMITED |
IMPERIAL ECDB MANORGATE LIMITED (REGISTERED NUMBER: 12346775) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
IMPERIAL ECDB MANORGATE LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
IMPERIAL ECDB MANORGATE LIMITED (REGISTERED NUMBER: 12346775) |
STATEMENT OF FINANCIAL POSITION |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
IMPERIAL ECDB MANORGATE LIMITED (REGISTERED NUMBER: 12346775) |
STATEMENT OF FINANCIAL POSITION - continued |
31 December 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
IMPERIAL ECDB MANORGATE LIMITED (REGISTERED NUMBER: 12346775) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Imperial ECDB Manorgate Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis, the applicability of which is dependent upon the continued support of the company's creditors and financiers. The Statement of Financial Position shows net liabilities, the directors are of the opinion that the creditors and financiers will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Imperial ECDB Manorgate Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the risks and rewards of ownership have been transfers at exchange of contracts. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stock is stated at the lower of cost and estimated selling price to complete and sell. Cost comprises the initial purchase consideration for the property and the ongoing development costs incurred to prepare the property for resale. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
IMPERIAL ECDB MANORGATE LIMITED (REGISTERED NUMBER: 12346775) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Impairment of assets |
A review of 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 reversals at each reporting date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Amounts owed by participating interests | - | 50 |
Other debtors |
IMPERIAL ECDB MANORGATE LIMITED (REGISTERED NUMBER: 12346775) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to participating interests | - | 134,390 |
Other creditors |
Included in other creditors are accrued expenses of £3,760 (2021: £2,500) |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.22 | 31.12.21 |
£ | £ |
Other loans |
Included within other creditors is a third party loan which is secured by fixed and floating charges over all undertakings and all property and assets of the company. |
8. | RELATED PARTY DISCLOSURES |
Included in current asset is an amount £nil (2021: £50) due from a company in which the 50% shareholding company has ownership. |
Included in current liabilities are amounts of £nil (2021: £134,390) and £nil (2021: £2,502) due to companies in which the 50% shareholding company has ownership. |