Platis Yalos Ltd - Accounts to registrar (filleted) - small 18.2
Platis Yalos Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 31 MAY 2020 TO 31 MAY 2021 |
| FOR |
| PLATIS YALOS LTD |
| PLATIS YALOS LTD (REGISTERED NUMBER: 10767197) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 31 MAY 2020 TO 31 MAY 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| PLATIS YALOS LTD |
| COMPANY INFORMATION |
| FOR THE PERIOD 31 MAY 2020 TO 31 MAY 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 869 High Road |
| London |
| N12 8QA |
| PLATIS YALOS LTD (REGISTERED NUMBER: 10767197) |
| STATEMENT OF FINANCIAL POSITION |
| 31 MAY 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 director and authorised for issue on |
| PLATIS YALOS LTD (REGISTERED NUMBER: 10767197) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 31 MAY 2020 TO 31 MAY 2021 |
| 1. | STATUTORY INFORMATION |
| Platis Yalos Ltd is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due. The director will finance the company as and when required. |
| RELATED PARTY EXEMPTION |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| TURNOVER |
| Turnover represents net rent receivable, excluding value added tax. |
| INVESTMENTS IN SUBSIDIARIES |
| Investments in subsidiary undertakings are recognised at fair values. |
| INVESTMENT PROPERTY |
| Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties. |
| The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial period would have been increased by the amount of depreciation. |
| TAXATION |
| Taxation for the period 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 statement of financial position date. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
| HIRE PURCHASE AND LEASING COMMITMENTS |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| PLATIS YALOS LTD (REGISTERED NUMBER: 10767197) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 31 MAY 2020 TO 31 MAY 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2020 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 31 May 2020 |
| and 31 May 2021 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 30 May 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 31 May 2020 |
| and 31 May 2021 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 30 May 2020 |
| Fair value at 31 May 2021 is represented by: |
| £ |
| Valuation in 2021 | 7,456,581 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 7,456,581 | 7,456,581 |
| Investment properties were valued on a fair value basis on 30 May 2021 by the director . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| PLATIS YALOS LTD (REGISTERED NUMBER: 10767197) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 31 MAY 2020 TO 31 MAY 2021 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| The bank loans are secured by way of fixed charges over the investment properties owned by the company. |
| 10. | RELATED PARTY DISCLOSURES |
| Included in creditors, amounts falling due within one year, is an interest free amount of £425,561 (2020: £153,314) owed to the director. |
| 11. | ULTIMATE CONTROLLING PARTY |