Britannia Row Residential Limited Filleted accounts for Companies House (small and micro)

BRITANNIA ROW RESIDENTIAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09351446

Britannia Row Residential Limited

Filleted Unaudited Financial Statements

31 December 2020

Britannia Row Residential Limited

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£

Current assets

Stocks		1,850,000	1,850,000
Debtors	5	100	100
		------------	------------
		1,850,100	1,850,100

Creditors: amounts falling due within one year	6	( 1,857,839)		( 1,855,826)
		------------		------------
Net current liabilities			( 7,739)	( 5,726)
			-------	-------
Total assets less current liabilities			( 7,739)	( 5,726)
			-------	-------
Net liabilities			( 7,739)	( 5,726)
			-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 7,839)	( 5,826)
	-------	-------
Shareholders deficit	( 7,739)	( 5,726)
	-------	-------

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 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 10 September 2021 , and are signed on behalf of the board by:

Mrs S Brittan

Director

Company registration number: 09351446

Britannia Row Residential Limited

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O YM&U Business Management Limited, 180 Great Portland Street, London, W1W 5QZ, UK.

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, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. 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 going concern basis which assumes the continuing financial support of the shareholders to enable the company to continue as a going concern and to settle its liabilities as and when they fall due.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax /recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Average staff numbers

The average staff numbers for the year are 4 (2018:4).

5. Debtors

	2020	2019
	£	£
Other debtors	100	100
	----	----

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	2,013	–
Other creditors	1,855,826	1,855,826
	------------	------------
	1,857,839	1,855,826
	------------	------------

7. Related party transactions

There was no ultimate controlling party throughout the current period, by virtue of the shareholders in the company. During a prior period, the Company exchanged contracts for £1,850,000 with the Trustees of a Unit Trust, to acquire the airspace lease of 35-53 Britannia Row. Two directors of the Company are trustees of a pension scheme which holds all the units in the Unit Trust, with the exception of a small number of units held by a director of the Company. No payment was due on exchange of contract for the airspace lease and completion is upon notice by either party. As at the balance sheet date the Company owed the Unit Trust £1,850,000 (2019: £1,850,000 ). During the period, a company with common ownership paid expenses on behalf of the company totalling £nil (2019: £2,013). As at the balance sheet date the amount owing was £4,026 (2019: £4,026).