Grosvenor Waterside (Cardiff Bay) Limited - Accounts

Grosvenor Waterside (Cardiff Bay) Limited - Accounts

GROSVENOR WATERSIDE (CARDIFF BAY) LIMITED - Company Information

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Grosvenor Waterside (Cardiff Bay) Limited 01617261 true false 0 2014-01-01 2014-12-31 The directors acknowledge their responsibilities for: (a) ensuring that the company keeps accounting records which comply with section 386 and 387 of the Companies Act 2006; and (b) preparing accounts 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 accounts, so far as applicable to the company. 01617261 2014-01-01 2014-12-31 01617261 2013-12-31 01617261 2014-12-31 01617261 uk-bus:Director1 2014-01-01 2014-12-31 01617261 uk-bus:Director2 2014-01-01 2014-12-31 01617261 uk-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 01617261 uk-bus:OrdinaryShareClass1 2014-12-31 01617261 uk-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP xbrli:shares
Registered Number: 01617261

Grosvenor Waterside (Cardiff Bay) Limited

Report of Directors and Abbreviated Company Accounts

31 December 2014
Grosvenor Waterside (Cardiff Bay) Limited Registered Number: 01617261

REPORT OF DIRECTORS

The directors present their report and accounts for the year ended 31 December 2014.


Review of Business

The company is dormant and has not traded during the financial year or subsequent to the year end.


Directors

The following persons served as directors during the year:
George Sebastian Matthew Bull
Ann Dibben

Approved by the board on 23 September 2015 and signed on its behalf by:




George Sebastian Matthew Bull

Director
Grosvenor Waterside (Cardiff Bay) Limited Registered Number: 01617261

BALANCE SHEET

as at 31 December 2014
  Notes   2014   2013
      £   £
Current Assets
Creditors
Total assets less current liabilities     0   0
Creditors: amounts falling due after more than one year 2   (347,000)   (347,000)
Total net assets (liabilities)     (347,000)   (347,000)
Grosvenor Waterside (Cardiff Bay) Limited Registered Number: 01617261

BALANCE SHEET

as at 31 December 2014 (continued)
  Notes   2014   2013
      £   £
Capital and reserves
Called up share capital 3   76,248,960   76,248,960
Share premium account     4,621,000   4,621,000
Other reserves 4   165,000,000   165,000,000
Profit and Loss Account 5   (246,216,960)   (246,216,960)
Total Shareholder's funds     (347,000)   (347,000)


The company was entitled to exemption under section 480 of the Companies Act 2006 for the year ended 31 December 2014.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

  1. ensuring that the company keeps accounting records which comply with section 386 and 387 of the Companies Act 2006; and
  2. preparing accounts 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 accounts, so far as applicable to the company.
The abbreviated accounts have been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

The accounts were approved by the board on 23 September 2015 and signed on its behalf by:




George Sebastian Matthew Bull

Director
Grosvenor Waterside (Cardiff Bay) Limited Registered Number: 01617261

NOTES TO THE ACCOUNTS

for the year ended 31 December 2014
1 Accounting policies
  The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective 8 April 2008). Previously the company has taken advantage of the exemptions provided under The Companies Act to prepare and file accounts for the year ending 31 December 2013 as disclosed in the company’s intermediate parent undertaking, Associated British Ports Holdings Limited. Preceding the exemptions, the accounts were prepared in accordance with International Financial Reporting Standards as adopted by the European Union.

Financial instruments:

Other creditors are recognised initially at fair value and subsequently measured at amortised cost, using the effective interest method.
 
2 Creditors : amounts falling due after more than one year
 
  2014   2013
  £   £
Other creditors 347,000   347,000
 
  Other creditors relate to amounts due to group undertaking, are non-interest bearing and have no fixed terms of repayment. Further details on amounts due to group undertaking are disclosed in note 7.

Amounts have been included in creditors: amounts falling due after more than one year in the balance sheet to reflect the expected repayment timing at the respective balance sheet date.

The company considers that the carrying amount of other creditors approximates to their fair value.

The company’s creditors are denominated in sterling.
 
3 Share capital
 
  2014   2013
  £   £
Allotted, called up and fully paid
7,624,896 Ordinary shares of £10 each 76,248,960   76,248,960
 
4 Other reserves
  Other reserves all relate to capital reserves.
 
5 Profit and loss account
  The company has not traded during the years ended 31 December 2014 and 2013; consequently no income statement has been presented.
 
6 Transactions with directors
  The directors believe that their services to the company are incidental to their role as executives for other group companies and therefore consider that they receive no remuneration in respect of qualifying services to this company (2013: £nil).
 
7 Related party disclosures
  There were no related party transactions during the year or prior year. Amounts due to group undertaking arose in previous years and the balance is due to the company’s fellow group undertaking, Grosvenor Waterside (Holdings) Limited.
 
8 Controlling party
  The company is a limited liability company registered in England and Wales.

The company's immediate parent undertaking is Associated British Ports. The company's intermediate parent undertaking is Associated British Ports Holdings Limited (“ABPH”) which produces IFRS financial statements that are available from its registered office at Aldwych House, 71-91 Aldwych, London, WC2B 4HN. The consolidated financial statements of ABPH are the smallest group in which the company is included.

The ultimate parent undertaking and controlling party is ABP (Jersey) Limited, which produces IFRS consolidated financial statements that are available from 44 Esplanade, St Helier, Jersey, JE4 9WG. The consolidated financial statements of ABP (Jersey) Limited are the largest group in which the company is included.

ABP (Jersey) Limited is a limited liability company registered in Jersey, previously owned by a consortium of investors as shown in the consolidated financial statements of ABP (Jersey) Limited. In July 2015, Anchorage Ports LLP, a consortium comprising Canada Pension Plan Investment Board and Hermes Infrastructure completed an acquisition of a 33.33% stake in the company from GS Infrastructure Partners and Infracapital. In addition, the Kuwait Investment Authority has acquired a 10.00% stake in the company.

The shareholdings in ABP (Jersey) Limited are: 33.33% owned by Borealis, 33.33% by Anchorage Ports LLP, 23.33% by Cheyne Walk Investment Pte Ltd and 10.00% by the Kuwait Investment Authority.