112 Upper Street Limited - Accounts to registrar (filleted) - small 18.2
112 Upper Street Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 29 February 2020 |
| for |
| 112 Upper Street Limited |
| 112 Upper Street Limited (Registered number: 10611447) |
| Contents of the Financial Statements |
| for the Year Ended 29 February 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| 112 Upper Street Limited |
| Company Information |
| for the Year Ended 29 February 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 3rd Floor Solar House |
| 1-9 Romford Road |
| London |
| E15 4RG |
| 112 Upper Street Limited (Registered number: 10611447) |
| Balance Sheet |
| 29 February 2020 |
| 2020 | 2019 |
| 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 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium | 9 |
| Retained earnings | 9 |
| 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. |
| 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 |
| 112 Upper Street Limited (Registered number: 10611447) |
| Notes to the Financial Statements |
| for the Year Ended 29 February 2020 |
| 1. | STATUTORY INFORMATION |
| 112 Upper Street Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover represents amounts receivable for rental of the property. |
| Investment property |
| All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss. |
| 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 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. |
| Going concern |
| The Directors are closely monitoring the impact of COVID-19 on the activities of the Company and of the ability of tenants to pay their rent. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 112 Upper Street Limited (Registered number: 10611447) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2019 |
| and 29 February 2020 |
| NET BOOK VALUE |
| At 29 February 2020 |
| At 28 February 2019 |
| The investment properties are measured at fair value,by the directors of the company.The directors are of the opinion that the fair value of the investment property has not changed materially from the cost price. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans (see note 8) |
| Amounts owed to joint ventures | 5,197 | 5,197 |
| Other creditors |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans-after more than 1yr |
| The bank loan is secured by a fixed and floating charge over the company's assets |
| 112 Upper Street Limited (Registered number: 10611447) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 February 2020 |
| 9. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 March 2019 | 1,008,367 |
| Profit for the year |
| At 29 February 2020 | 1,051,328 |