ATRA INVESTMENTS LIMITED Filleted accounts for Companies House (small and micro)

ATRA INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00757949

ATRA INVESTMENTS LIMITED

Filleted Unaudited Financial Statements

31 March 2021

ATRA INVESTMENTS LIMITED

Statement of Financial Position

31 March 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	5	32	42
Investment property	6	840,202	531,670
		---------	---------
		840,234	531,712

Current assets

Debtors	7	–	69,017
Cash at bank and in hand		50,710	111,361
		--------	---------
		50,710	180,378

Creditors: amounts falling due within one year	8	202,271		5,902
		---------		---------
Net current (liabilities)/assets			( 151,561)	174,476
			---------	---------
Total assets less current liabilities			688,673	706,188

Provisions

Taxation including deferred tax	75,000	75,000
	---------	---------
Net assets	613,673	631,188
	---------	---------

Capital and reserves

Called up share capital		400	400
Fair value reserve	10	418,073	418,073
Profit and loss account	10	195,200	212,715
		---------	---------
Shareholders funds		613,673	631,188
		---------	---------

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 March 2021 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 .

ATRA INVESTMENTS LIMITED

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 10 December 2021 , and are signed on behalf of the board by:

N Fluss

Director

Company registration number: 00757949

ATRA INVESTMENTS LIMITED

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

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 and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% reducing balance

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without any undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 April 2020 and 31 March 2021	8,321	8,321
	-------	-------
Depreciation
At 1 April 2020	8,279	8,279
Charge for the year	10	10
	-------	-------
At 31 March 2021	8,289	8,289
	-------	-------
Carrying amount
At 31 March 2021	32	32
	-------	-------
At 31 March 2020	42	42
	-------	-------

6. Investment property

	Freehold investment property
	£
Cost
At 1 April 2020	531,670
Additions	308,532
	---------
At 31 March 2021	840,202
	---------
Impairment
At 1 April 2020 and 31 March 2021	–
	---------

Carrying amount
At 31 March 2021	840,202
	---------
At 31 March 2020	531,670
	---------

The investment property has been revalued by the directors on an open market value for existing use basis as at 31 March 2017.

7. Debtors

	2021	2020
	£	£
Other debtors	–	69,017
	----	--------

Other debtors include amounts due from related undertakings of £69,017 (2019:168,257).

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	50,000	–
Social security and other taxes	3,515	3,452
Amounts owed to related undertakings	138,524	–
Other creditors	10,232	2,450
	---------	-------
	202,271	5,902
	---------	-------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2021	2020
	£	£
Included in provisions	75,000	75,000
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2021	2020
	£	£
Fair value adjustment of financial assets	75,000	75,000
	--------	--------

10. Reserves

Other reserves This non-distributable reserve is used to record increases in the fair value of freehold investment properties and decreases to the extent that such decreases relate to the increase on the same asset. The figure is stated net of the associated deferred tax liability. Profit and loss account This is the distributable reserve represented by the retained profit and loss.