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Registered number: 12540564
TRIBE ILDERTON ROAD LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 AUGUST 2021
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TRIBE ILDERTON ROAD LIMITED
COMPANY INFORMATION
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J A Clarke (appointed 27 May 2020)
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L R Quail (appointed 31 March 2020)
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TRIBE ILDERTON ROAD LIMITED
CONTENTS
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Statement of financial position
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Statement of changes in equity
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Notes to the financial statements
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TRIBE ILDERTON ROAD LIMITED
REGISTERED NUMBER: 12540564
UNAUDITED STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2021
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
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TRIBE ILDERTON ROAD LIMITED
REGISTERED NUMBER: 12540564
UNAUDITED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2021
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 December 2021.
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TRIBE ILDERTON ROAD LIMITED
UNAUDITED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 AUGUST 2021
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Comprehensive income for the period
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Total comprehensive income for the period
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Shares issued during the period
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Total transactions with owners
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TRIBE ILDERTON ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2021
Tribe Ilderton Road Limited is a private company limited by shares, incorporated in England and Wales. The registered office is Sealand House, Hemnall Street, Epping, Essex, England, CM16 4LG.
The Company was incorporated on 31 March 2020 and the first accounting period is from 31 March 2020 to 31 August 2021.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared on the historic cost convention. The following principal accounting policies have been applied:
The Directors are closely monitoring the impact of COVID-19 on the activities of the Company. The Board will regularly review the position moving forward and is working closely with key parties.
In addition, at the period end the Company had net liabilities of £128,397. The Company will continue to be supported by its shareholders.
Consequently, the Directors believe that the Company will be able to continue to operate and meet its liabilities as they fall due for a period of at least one year from the date of approval of the financial statements.
Investment property is property held by the company to earn rentals or for capital appreciation or both.
Properties in the course of contruction are carried at cost, less any identified impairment loss. Cost includes professional fees and other directly attributable costs that are necessary to bring the property to its operating condition.
Properties are subsequently measured at fair value whilst a reliable measure of fair value is available without undue cost or effort. Changes in fair value are recognised in the income statement.
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Cash and cash equivalents
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Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts.
Basic financial instruments are measured at cost. The Company has no financial instruments measured at fair value or classified as a financial instrument under FRS 102.
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TRIBE ILDERTON ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2021
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There were no employees during the period.
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No provision has been made for corporation tax. The Company has not recognised a deferred tax asset of £24,415 in respect of losses carried forward of £128,497 as there is uncertainty over when the losses will be utilised.
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Property under construc-tion
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Amounts owed by group undertakings
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TRIBE ILDERTON ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2021
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Included within other creditors is a loan from Hemnall Limited of £12,883,455 secured by a legal charge over the property at 313-349 Ilderton Road, London.
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Authorised, allotted, called up and fully paid
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100 Ordinary shares of £1.00 each
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Related party transactions
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The Company is exempt from disclosing related party transactions with companies that are wholly owned within the group.
During the period the Company made net loan advances of £222,489 to an LLP in which one of the
directors has a non-controlling interest. At the year end, the balance due from this LLP was £222,489.
During the period the Company received loan advances of £12,754,958 from a company with a common director. Interest on the loan for the period amounted to £128,497. At the period end, the balance due to this company was £12,883,455.
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