Contents of the Financial Statements

for the Period Ended 31 December 2019

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2019

The directors present their report with the financial statements of the company for the period ended 31 December 2019

Directors

The directors shown below have held office during the whole of the period from
1 January 2019 to 31 December 2019

M J A Walley
M Lawley

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 July 2020

And signed on behalf of the board by:
Name: M Lawley
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2019

	2019	2018
	£	£
Administrative expenses:	( 19,486,447 )	( 9,708,733 )
Other operating income:	29,853,871	11,000,000
Operating profit(or loss):	10,367,424	1,291,267
Interest payable and similar charges:	( 868,308 )	( 997,274 )
Profit(or loss) before tax:	9,499,116	293,993
Tax:	190,713	217,393
Profit(or loss) for the financial year:	9,689,829	511,386

Balance sheet

As at 31 December 2019

	Notes	2019	2018
		£	£
Fixed assets
Investments:	3	64,861,796	70,397,359
Total fixed assets:		64,861,796	70,397,359
Current assets
Debtors:	4	6,532,160	17,610,947
Cash at bank and in hand:		1,391,841	1,854
Total current assets:		7,924,001	17,612,801
Creditors: amounts falling due within one year:	5	( 11,792,760 )	( 23,343,974 )
Net current assets (liabilities):		(3,868,759)	(5,731,173)
Total assets less current liabilities:		60,993,037	64,666,186
Creditors: amounts falling due after more than one year:	6	( 37,564,586 )	( 50,927,564 )
Total net assets (liabilities):		23,428,451	13,738,622
Capital and reserves
Called up share capital:		5,000,100	5,000,100
Share premium account:		11,579,530	11,579,530
Profit and loss account:		6,848,821	(2,841,008 )
Total Shareholders' funds:		23,428,451	13,738,622

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2019

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Valuation information and policy

  All financial assets and liabilities are measured at the transaction value

  Other accounting policies

  Going concern, investments, tax.

Notes to the Financial Statements

for the Period Ended 31 December 2019

• 2. Employees

  	2019	2018
  Average number of employees during the period	0	0