Property For London (P4L) Limited 31/12/2021 iXBRL
Property For London (P4L) Limited 31/12/2021 iXBRL
Company registration number:
03406290
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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Building 6 | ||
30 Friern Park | ||
London | ||
N12 9DA | ||
Statement of financial position
31 December 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Investments | 6 |
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 July 2022
, and are signed on behalf of the board by:
Director
Company registration number:
03406290
Notes to the financial statements
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 655 Commercial Road, London, E14 7LW.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Construction contracts
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Exposure to foreign currency, credit, liquidity and cash flow interest rate risks arises in the normal course of the Company's business. These risks are limited by the Company's financial management policies and practices which include substantially transacting the company's business in Sterling, only dealing with clients who have demonstrated creditworthiness and by retaining sufficient reserves and entering into banking arrangements that facilitate the mitigation of risk.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2020:
4
).
5.
Tangible assets
Freehold and leasehold properties | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 January 2021 and 31 December 2021 |
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Depreciation | ||||
At 1 January 2021 | - |
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Charge for the year | - |
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At 31 December 2021 | - |
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Carrying amount | ||||
At 31 December 2021 |
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At 31 December 2020 |
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6.
Investments
Shares in group undertakings and participating interests | Total | ||
£ | £ | ||
Cost | |||
At 1 January 2021 and 31 December 2021 |
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Impairment | |||
At 1 January 2021 and 31 December 2021 | - | - | |
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Carrying amount | |||
At 31 December 2021 |
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At 31 December 2020 |
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7.
Debtors
2021 | 2020 | |||
£ | £ | |||
Other debtors |
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8.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Trade creditors |
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Corporation tax |
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Other creditors |
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9.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | ||||
2021 | ||||
Balance brought forward | Amounts repaid | Balance o/standing | ||
£ | £ | £ | ||
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2020 | ||||
Balance brought forward | Amounts repaid | Balance o/standing | ||
£ | £ | £ | ||
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10.
Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value | Balance owed by/(owed to) | ||||
2021 | 2020 | 2021 | 2020 | ||
£ | £ | £ | £ | ||
Docklife Trading Limited | 4,022 | - | ( 35,289) | ( 40,690) | |
Canary Docklife Limited | ( 1,814) | ( 32,693) | 93,480 | 95,294 | |
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Docklife Trading Limited is a company under common control the company.Canary Docklife Limited is a subsidiary of the company.
11.
Controlling party
The company was controlled throughout the year and the previous years by its director, Mr J. D. Jarvis.