York Terrace Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08087574 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2020

for

York Terrace Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A L Bloom

Ms Patsy Bloom

I A Brecher

Mrs L A Cherkas

SECRETARY:

REGISTERED OFFICE:

24 Nottingham Terrace

London

NW1 6QB

REGISTERED NUMBER:

08087574 (England and Wales)

ACCOUNTANTS:

Grant Harrod Lerman Davis LLP

Chartered Accountants

1st Floor

Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

FIXED ASSETS

Tangible assets

4

3,065

-

Investments

5

2

4

Investment property

6

8,247,000

-

8,250,067

4

CURRENT ASSETS

Debtors

7

111,580

3,444,195

Cash at bank

223,567

4,579

335,147

3,448,774

CREDITORS

Amounts falling due within one year

8

1,851,636

891,786

NET CURRENT (LIABILITIES)/ASSETS

(1,516,489

)

2,556,988

TOTAL ASSETS LESS CURRENT LIABILITIES

6,733,578

2,556,992

PROVISIONS FOR LIABILITIES

698,964

-

NET ASSETS

6,034,614

2,556,992

CAPITAL AND RESERVES

Called up share capital

26

26

Retained earnings

6,034,588

2,556,966

6,034,614

2,556,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 21 April 2021 and were signed on its behalf by:

Ms Patsy Bloom - Director

1.	STATUTORY INFORMATION

York Terrace Properties 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

4,088

At 30 September 2020

4,088

DEPRECIATION

Charge for year

1,023

At 30 September 2020

1,023

NET BOOK VALUE

At 30 September 2020

3,065

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2019

4

Disposals

(2

)

At 30 September 2020

2

NET BOOK VALUE

At 30 September 2020

2

At 30 September 2019

4

The company's investments at the Balance Sheet date in the share capital of companies include the following:

P B Estates Ltd

Registered office: 24 Nottingham Terrace, London, NW1 4QB

Nature of business: Property investment

%

Class of shares:

holding

Ordinary

100.00

2020

2019

£

£

Aggregate capital and reserves

877,884

758,381

(Loss)/profit for the year/period

(1,380

)

25,758

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

8,247,000

At 30 September 2020

8,247,000

NET BOOK VALUE

At 30 September 2020

8,247,000

Investment properties are carried at fair value determined annually by the directors' and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any differences in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

70,227

3,444,195

Other debtors

41,353

-

111,580

3,444,195

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed to group undertakings

879,084

53,090

Taxation and social security

14,138

-

Other creditors

958,414

838,696

1,851,636

891,786

9.	RELATED PARTY DISCLOSURES

The company has taken the exemption available in FRS102 1A.35 and not disclosed balances and transactions entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Mr I Brecher, a director of the company, has provided professional services to the company this year and has been paid a salary of £10,000 which is included in the profit and loss account (2019 - nil) in this respect. No amounts were due to Mr Brecher as at 30 September 2020 (2019 -nil).

All the company's investment properties are held by Ms Patsy Bloom in trust for the company.