Cherif Barnes Developments Limited Filleted accounts for Companies House (small and micro)

Cherif Barnes Developments Limited Filleted accounts for Companies House (small and micro)

CHERIF BARNES DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08697007
CHERIF BARNES DEVELOPMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2021
CHERIF BARNES DEVELOPMENTS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2021
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
CHERIF BARNES DEVELOPMENTS LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
Lord M Beaverbrook
Registered office
34 Ely Place
London
England
EC1N 6TD
Accountants
BSG Valentine (UK) LLP
Chartered Accountants
Lynton House
7 - 12 Tavistock Square
London
WC1H 9BQ
CHERIF BARNES DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Investments
4
2
2
CURRENT ASSETS
Debtors
5
3,223,284
3,223,284
Cash at bank and in hand
3,145
3,185
------------
------------
3,226,429
3,226,469
CREDITORS: amounts falling due within one year
6
( 3,510,000)
( 3,509,500)
------------
------------
NET CURRENT LIABILITIES
( 283,571)
( 283,031)
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 283,569)
( 283,029)
---------
---------
NET LIABILITIES
( 283,569)
( 283,029)
---------
---------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
( 283,570)
( 283,030)
---------
---------
SHAREHOLDERS DEFICIT
( 283,569)
( 283,029)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 May 2022 , and are signed on behalf of the board by:
Lord M Beaverbrook
Director
Company registration number: 08697007
CHERIF BARNES DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 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 34 Ely Place, London, EC1N 6TD, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on the assumption that the company remains a going concern. This is dependent on the subsidiary selling all the property stock, and being able to repay all liabilities from proceeds. Consolidation The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group. Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Impairment of fixed assets 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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Investments
Shares in group undertakings
£
Cost
At 1 September 2020 and 31 August 2021
2
----
Impairment
At 1 September 2020 and 31 August 2021
–
----
Carrying amount
At 31 August 2021
2
----
At 31 August 2020
2
----
5. Debtors
2021
2020
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3,223,284
3,223,284
------------
------------
6. Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors
3,510,000
3,509,500
------------
------------
Bank loans to the group are secured by a fixed charge over shares dated 21 December 2015 and registered at Companies House by Julian Hodge Bank Limited.
7. Related party transactions
The company has taken advantage of the exemption allowed under the Financial Reporting Standard 102 not to disclose related party transactions between wholly owned members of the same group of companies.