Albury (Crescent Road) Limited - Accounts to registrar (filleted) - small 18.2

ALBURY (CRESCENT ROAD) LIMITED

Financial Statements

for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

S Berry

D Paliouras

D Parker

Registered office:

New Derwent House

69-73 Theobolds Road

London

WC1X 8TA

Registered number:

11391437 (England and Wales)

Accountants:

Haines Watts

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Current assets

Stocks

3,089,417

33,207

Debtors

4

43,157

6,464

Cash at bank

1,817

-

3,134,391

39,671

Creditors

Amounts falling due within one year

5

3,009,086

39,663

Net current assets

125,305

8

Total assets less current liabilities

125,305

8

Creditors

Amounts falling due after more than one year

6

257,196

-

Net (liabilities)/assets

(131,891

)

8

Capital and reserves

Called up share capital

8

8

Retained earnings

(131,899

)

-

Shareholders' funds

(131,891

)

8

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2020 and were signed on its behalf by:

S Berry - Director

1.	Statutory information

Albury (Crescent Road) 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.	Accounting policies

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Going concern

The directors have reviewed the current and projected financial position of the Company, making reasonable assumptions about future trading performance. After making enquiries and taking account of the Company's unencumbered assets and undrawn borrowing facilities, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a minimum of 12 months following the signature date. Accordingly, the financial statements have been prepared on a going concern basis.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	Employees and directors

The average number of employees during the year was 3 (2018 - 2 ) .

4.

Debtors: amounts falling due within one year

2019

2018

£

£

Amounts owed by group undertakings

-

6

Other debtors

43,157

6,458

43,157

6,464

5.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

-

2,599

Amounts owed to group undertakings

439,066

37,064

Other creditors

2,570,020

-

3,009,086

39,663

6.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Trade creditors

257,196

-

7.	Secured debts

The following secured debts are included within creditors:

2019

2018

£

£

Other loans

2,498,759

-

Other loans comprised of loans in relation to the development project reported in stock.

All loans were secured at the year end with fixed and floating charges over the company stock, fixed assets and investments, as well as a debenture over the company shares.

8.	Related party disclosures

At the year end the company owed £439,066 to companies with a common director.