Ground Rent Trading (Liverpool) Limited - Accounts to registrar (filleted) - small 18.2
Ground Rent Trading (Liverpool) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1 JANUARY 2018 TO 30 DECEMBER 2018 |
| FOR |
| GROUND RENT TRADING (LIVERPOOL) LIMITED |
| GROUND RENT TRADING (LIVERPOOL) LIMITED (REGISTERED NUMBER: 06339801) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 7 |
| GROUND RENT TRADING (LIVERPOOL) LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Russell House |
| 140 High Street |
| Edgware |
| Middlesex |
| HA8 7LW |
| GROUND RENT TRADING (LIVERPOOL) LIMITED (REGISTERED NUMBER: 06339801) |
| BALANCE SHEET |
| 30 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Fair value reserve | 10 |
| Retained earnings | 10 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| GROUND RENT TRADING (LIVERPOOL) LIMITED (REGISTERED NUMBER: 06339801) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Ground Rent Trading (Liverpool) Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents invoiced ground rents on investment properties and insurance commissions received. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognised in profit or loss. |
| No depreciation is provided in respect of these properties in accordance with FRS 102. This is a departure from |
| the requirements of the Companies Act 2006 that depreciation is charged to systematically write off the cost of |
| assets over their useful economic lives. These properties are held primarily for investment and any trading |
| income derived from them is incidental. As such, the director considers depreciation of these properties to be |
| inappropriate. The policy adopted is considered necessary for the financial statements to give a true and fair |
| view. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Cash and cash equivalent |
| Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid |
| investments with original maturities of three months or less. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative expenses. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past |
| event. It is probable that an outflow of economic benefits will be required in settlement and the amount can be |
| reliably estimated. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| GROUND RENT TRADING (LIVERPOOL) LIMITED (REGISTERED NUMBER: 06339801) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2018 |
| and 30 December 2018 |
| NET BOOK VALUE |
| At 30 December 2018 |
| At 31 December 2017 |
| Fair value at 30 December 2018 is represented by: |
| £ |
| Valuation in 2014 | 51,532 |
| Cost | 142,464 |
| 193,996 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 102,218 | 102,218 |
| Investment property was valued on fair value basis on 31 December 2014 by the director . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Amounts owed to group undertakings |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 250,000 | 270,000 |
| GROUND RENT TRADING (LIVERPOOL) LIMITED (REGISTERED NUMBER: 06339801) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 9,791 | 9,791 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2018 |
| Balance at 30 December 2018 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2018 | ( |
) | 14,088 |
| Deficit for the period | ( |
) | ( |
) |
| At 30 December 2018 | ( |
) | 1,845 |
| 11. | RELATED PARTY DISCLOSURES |
| L C Freilich |
| A shareholder and director of the company |
| Included in other creditors are loan notes of £180,000 (2017: £190,000) due to Mr L C Freilich. During the year |
| net interest of £2,963, (2017: £3,123) was paid to Mr L C Freilich on these loan notes. |
| 2018 | 2017 |
| £ | £ |
| Amount due to related party at the balance sheet date | 180,000 | 190,000 |
| Moreland Estate Property Management Limited |
| A company under common control |
| Included in other debtors is a balance of £162,348 (2017: £198,848) which represents interest free loans |
| outstanding at the balance sheet date. |
| 2018 | 2017 |
| £ | £ |
| Amount due from related party at the balance sheet date | 162,348 | 198,848 |
| GROUND RENT TRADING (LIVERPOOL) LIMITED (REGISTERED NUMBER: 06339801) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2018 TO 30 DECEMBER 2018 |
| 11. | RELATED PARTY DISCLOSURES - continued |
| Mrs S Freilich |
| A shareholder of this company |
| Included in other creditors are loan notes of £180,000 (2017: £180,000) due to Mrs S Freilich. During the year |
| net interest of £2,963 (2017: £3,123) was paid to Mrs S Freilich on these loan notes. |
| 2018 | 2017 |
| £ | £ |
| Amount due to related party at the balance sheet date | 180,000 | 190,000 |
| MW Freeholds Limited |
| A company under common control |
| 2018 | 2017 |
| £ | £ |
| Amount due to related party at the balance sheet date | 1,968 | 1,968 |
| Yishlet Limited |
| A company under the control of a close family member of the director |
| 2018 | 2017 |
| £ | £ |
| Amount due from related party at the balance sheet date | 15,000 | 15,000 |
| Ground Rent Trading Investment Ltd |
| A company under common control |
| 2018 | 2017 |
| £ | £ |
| Amount due from related party at the balance sheet date | 36,000 | 36,000 |
| Chancery Lane Investments Limited |
| A company under common control |
| 2018 | 2017 |
| £ | £ |
| Amount due from related party at the balance sheet date | 9,000 | 9,000 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr L C Freilich. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| GROUND RENT TRADING (LIVERPOOL) LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and |
| the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Ground Rent Trading (Liverpool) Limited for the period ended 30 December 2018 which |
| comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from |
| information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Ground Rent Trading (Liverpool) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ground Rent Trading (Liverpool) Limited and state those matters that we have agreed to state to the director of Ground Rent Trading (Liverpool) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ground Rent Trading (Liverpool) Limited and its director for our work or for this report. |
| It is your duty to ensure that Ground Rent Trading (Liverpool) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ground Rent Trading (Liverpool) Limited. You consider that Ground Rent Trading (Liverpool) Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of Ground Rent Trading (Liverpool) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Russell House |
| 140 High Street |
| Edgware |
| Middlesex |
| HA8 7LW |