Demo Properties (Broad Haven) Limited - Period Ending 2021-12-31

Demo Properties (Broad Haven) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Demo Properties (Broad Haven) Limited

Company Information

Director

Mr Steven John Pardoe

Registered office

Wallis House 27 Broad Street Wokingham Berkshire RG40 1AU

Accountants

RiverView Portfolio Limited 1 Market Hill Calne Wiltshire SN11 0BT

Demo Properties (Broad Haven) Limited

(Registration number: 13080708)
Balance Sheet as at 31 December 2021

	Note	2021 £
Fixed assets
Investment property	4	1,800,000
Creditors: Amounts falling due within one year	5	(1,164,263)
Total assets less current liabilities		635,737
Creditors: Amounts falling due after more than one year	5	(1,050,000)
Net liabilities		(414,263)
Capital and reserves
Called up share capital		100
Retained earnings		(414,363)
Shareholders' deficit		(414,263)

For the financial period ending 31 December 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 accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 14 December 2022
 

......................................... Mr Steven John Pardoe Director

Demo Properties (Broad Haven) Limited

Notes to the Unaudited Financial Statements for the Period from 14 December 2020 to 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wallis House
27 Broad Street
Wokingham
Berkshire
RG40 1AU

These financial statements were authorised for issue by the director on 14 December 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Demo Properties (Broad Haven) Limited

Notes to the Unaudited Financial Statements for the Period from 14 December 2020 to 31 December 2021 (continued)

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4	Investment properties

	2021 £
Additions	2,212,400
Fair value adjustments	(412,400)
At 31 December	1,800,000

There has been no valuation of investment property by an independent valuer.

Demo Properties (Broad Haven) Limited

Notes to the Unaudited Financial Statements for the Period from 14 December 2020 to 31 December 2021 (continued)

5

Creditors

Creditors: amounts falling due within one year

	Note	2021 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,162,300
Accruals and deferred income		1,633
Other creditors		330
		1,164,263

Creditors: amounts falling due after more than one year

	Note	2021 £
Due after one year
Loans and borrowings	6	1,050,000

6	Loans and borrowings

	2021 £
Non-current loans and borrowings
Bank borrowings	1,050,000