London Penthouse (Highgate 3) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11679616 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 October 2020

for

London Penthouse (Highgate 3) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

J M T Griffin

M P Griffin

REGISTERED OFFICE:

C205 The Chocolate Factory

5 Clarendon Road

Wood Green

London

N22 6XJ

REGISTERED NUMBER:

11679616 (England and Wales)

ACCOUNTANTS:

CPS Accountancy Ltd

Chartered Certified Accountants

C205 The Chocolate Factory

5 Clarendon Road

Wood Green

London

N22 6XJ

FIXED ASSETS

Investment property

4

1,400,000

1,300,000

CURRENT ASSETS

Debtors

5

87,337

109,372

Cash at bank

105

-

87,442

109,372

CREDITORS

Amounts falling due within one year

6

422,959

415,755

NET CURRENT LIABILITIES

(335,517

)

(306,383

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,064,483

993,617

CREDITORS

Amounts falling due after more than
one year

7

(980,025

)

(930,000

)

PROVISIONS FOR LIABILITIES

(72,597

)

(53,597

)

NET ASSETS

11,861

10,020

CAPITAL AND RESERVES

Called up share capital

8

100

Non-distributable reserve

9

309,495

228,495

Retained earnings

(297,734

)

(218,575

)

SHAREHOLDERS' FUNDS

11,861

10,020

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 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 26 October 2021 and were signed on its behalf by:

J M T Griffin - Director

1.	STATUTORY INFORMATION

London Penthouse (Highgate 3) 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 as modified by the revaluation of certain assets.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 1 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 October 2019

1,300,000

Revaluations

100,000

At 30 October 2020

1,400,000

NET BOOK VALUE

At 30 October 2020

1,400,000

At 30 October 2019

1,300,000

Investment property has been valued by the Directors at the balance sheet date.

Fair value at 30 October 2020 is represented by:

£

Valuation in 2019

1,300,000

Valuation in 2020

100,000

1,400,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.10.20

30.10.19

£

Cost

1,017,908

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.10.20

30.10.19

£

Other debtors

87,337

109,372

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.10.20

30.10.19

£

Trade creditors

2,402

-

Other creditors

420,557

415,755

422,959

415,755

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Other creditors represents a mortgage of £930,025 (2019 : £930,000) which is secured by way of a first charge over the company's investment property.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.10.20

30.10.19

value:

£

100

Ordinary

1

100

9.

RESERVES

Non-distributable

reserve

£

At 31 October 2019

228,495

Transfer of reserves

81,000

At 30 October 2020

309,495

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 October 2020 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

CPS Accountancy Ltd

Chartered Certified Accountants

C205 The Chocolate Factory

5 Clarendon Road

Wood Green

London

N22 6XJ

26 October 2021

London Penthouse (Highgate 3) Limited - Accounts to registrar (filleted) - small 18.2

London Penthouse (Highgate 3) Limited - Accounts to registrar (filleted) - small 18.2