Company Registration No. 07772247 (England and Wales)
The Family Officer Limited
Unaudited accounts
for the year ended 29 December 2021
The Family Officer Limited
Unaudited accounts
Contents
The Family Officer Limited
Statement of financial position
as at 29 December 2021
Investments
1,875,226
2,246,527
Debtors
6,181,188
6,262,977
Cash at bank and in hand
664
6,425
Creditors: amounts falling due within one year
(5,278,295)
(5,388,820)
Net current assets
903,557
880,582
Total assets less current liabilities
2,778,783
3,138,010
Creditors: amounts falling due after more than one year
(44,173)
(50,000)
Net assets
2,734,610
3,088,010
Called up share capital
1,000
1,000
Share premium
4,999,000
4,999,000
Profit and loss account
(2,265,390)
(1,911,990)
Shareholders' funds
2,734,610
3,088,010
For the year ending 29 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 January 2023 and were signed on its behalf by
M Cerri
Director
Company Registration No. 07772247
The Family Officer Limited
Notes to the Accounts
for the year ended 29 December 2021
The Family Officer Limited is a private company, limited by shares, registered in England and Wales, registration number 07772247. The registered office is 8-10 HILL STREET, LONDON, W1J 5NG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
over 50 years/over term lease
Plant & machinery
over 50 years
Fixtures & fittings
over 5 years
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The Family Officer Limited
Notes to the Accounts
for the year ended 29 December 2021
4
Tangible fixed assets
Plant & machinery
At 30 December 2020
43,152
At 30 December 2020
32,251
At 29 December 2020
10,901
5
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 30 December 2020
2,187,301
59,226
2,246,527
Fair value adjustments
(371,301)
-
(371,301)
Valuation at 29 December 2021
1,816,000
59,226
1,875,226
Amounts falling due within one year
Amounts due from group undertakings etc.
6,101,449
6,120,080
7
Creditors: amounts falling due within one year
2021
2020
Amounts owed to group undertakings and other participating interests
-
12,948
Taxes and social security
20,556
19,078
Other creditors
5,168,476
5,017,794
Loans from directors
89,263
-
8
Creditors: amounts falling due after more than one year
2021
2020
The Family Officer Limited
Notes to the Accounts
for the year ended 29 December 2021
9
Average number of employees
During the year the average number of employees was 0 (2020: 0).
