Plaza Land Ltd - Accounts to registrar (filleted) - small 18.2
Plaza Land Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2020 |
for |
Plaza Land Ltd |
Plaza Land Ltd (Registered number: 11435556) |
Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Plaza Land Ltd |
Company Information |
for the Year Ended 31 December 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
First Floor, West Barn |
North Frith Farm, Ashes Lane |
Hadlow |
Tonbridge |
Kent |
TN11 9QU |
Plaza Land Ltd (Registered number: 11435556) |
Balance Sheet |
31 December 2020 |
2020 | 2019 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL & RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 |
Plaza Land Ltd (Registered number: 11435556) |
Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
1. | STATUTORY INFORMATION |
Plaza Land Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Judgements in applying accounting policies and key sources of estimation |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
In determining the value of the properties held by the company, the directors consider all relevant available information, including but not limited to relevant valuation indices for properties of a similar type in the locations in which the properties are held. The directors will use their judgement in selecting and applying these indices as well as their experience within the industry to determine a suitable valuation for the revaluation of the properties within the year. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. |
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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Plaza Land Ltd (Registered number: 11435556) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2019 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed to participating interests | 433,482 | 115,056 |
Accruals & deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary A | £1 | 80 | 80 |
Ordinary B | £1 | 20 | 20 |
100 | 100 |
7. | RELATED PARTY DISCLOSURES |
Included within creditors is an amount of £433,482 (2019: £115,056) owed to a company under common control and with common directors. The loan is interest free and repayable on demand. |