City Road Commercial Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09877792 (England and Wales)

CITY ROAD COMMERCIAL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

Mr A M Ostreicher

REGISTERED OFFICE:

First Floor

94 Stamford Hill

London

N16 6XS

REGISTERED NUMBER:

09877792 (England and Wales)

ACCOUNTANTS:

Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

FIXED ASSETS

Investment property

5

1,001,413

CURRENT ASSETS

Debtors

6

59,047

59,239

Cash at bank

15,720

26,168

74,767

85,407

CREDITORS

Amounts falling due within one year

7

1,040,790

1,038,833

NET CURRENT LIABILITIES

(966,023

)

(953,426

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

35,390

47,987

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

35,389

47,986

35,390

47,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2020 and
were signed by:

Mr A M Ostreicher - Director

1.	STATUTORY INFORMATION

City Road Commercial Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified to include

investment properties measured at fair value through profit or loss.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements,

estimates and assumptions about the carrying amounts of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. The estimates and underlying

assumptions are reviewed on an ongoing basis.

Turnover

Turnover is recognised at the fair value of the consideration receivable in respect of services provided

in the normal course of business. The turnover of the company is represented by rents and charges

receivable in respect of the company's investment portfolio. Rental income is accounted for on an

accruals basis.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially

recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value

are recognised in profit or loss.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2018

and 30 November 2019

1,001,413

NET BOOK VALUE

At 30 November 2019

1,001,413

At 30 November 2018

1,001,413

The fair value of the investment properties has been arrived at on the basis of a valuation carried out

by the company's director who has the experience and expertise required to undertake such an

exercise. The valuation was made on an open market value basis by reference to market evidence of

transaction prices for similar properties in the same location.

The historical cost of investment properties at 30 November 2019 is £1,001,413.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Other debtors

59,047

59,239

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Amounts owed to group undertakings

999,489

Taxation and social security

2,480

Other creditors

38,821

36,864

1,040,790

1,038,833

8.	PARENT UNDERTAKING

The company is a wholly owned subsidiary of Bindale Limited.

City Road Commercial Limited - Accounts to registrar (filleted) - small 18.2

City Road Commercial Limited - Accounts to registrar (filleted) - small 18.2