FITZNEAL REAL ESTATE LIMITED 30/06/2021 iXBRL

FITZNEAL REAL ESTATE LIMITED 30/06/2021 iXBRL

FITZNEAL REAL ESTATE LIMITED - Company Information

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1 30/06/2021 2021-06-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2020-07-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:USD 05479785 2020-07-01 2021-06-30 05479785 2021-06-30 05479785 2019-07-01 2020-06-30 05479785 2020-06-30 05479785 2019-06-30 05479785 bus:Director2 2020-07-01 2021-06-30 05479785 core:WithinOneYear 2021-06-30 05479785 core:WithinOneYear 2020-06-30 05479785 core:RetainedEarningsAccumulatedLosses 2019-07-01 2020-06-30 05479785 core:RetainedEarningsAccumulatedLosses 2020-07-01 2021-06-30 05479785 core:ShareCapital 2021-06-30 05479785 core:ShareCapital 2020-06-30 05479785 core:RetainedEarningsAccumulatedLosses 2021-06-30 05479785 core:RetainedEarningsAccumulatedLosses 2020-06-30 05479785 core:ShareCapital 2019-06-30 05479785 core:RetainedEarningsAccumulatedLosses 2019-06-30 05479785 core:CostValuation core:Non-currentFinancialInstruments 2021-06-30 05479785 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2021-06-30 05479785 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2021-06-30 05479785 core:Non-currentFinancialInstruments 2021-06-30 05479785 core:Non-currentFinancialInstruments 2020-06-30 05479785 bus:SmallEntities 2020-07-01 2021-06-30 05479785 bus:AuditExempt-NoAccountantsReport 2020-07-01 2021-06-30 05479785 bus:FullAccounts 2020-07-01 2021-06-30 05479785 bus:SmallCompaniesRegimeForAccounts 2020-07-01 2021-06-30 05479785 bus:PrivateLimitedCompanyLtd 2020-07-01 2021-06-30 05479785 core:ImmediateParent 2020-07-01 2021-06-30
Company registration number: 05479785
FITZNEAL REAL ESTATE LIMITED
Unaudited filleted financial statements
30 June 2021
FITZNEAL REAL ESTATE LIMITED
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
FITZNEAL REAL ESTATE LIMITED
Statement of financial position
30 June 2021
2021 2020
Note $ $ $ $
Fixed assets
Investments 5 14,057,113 14,069,121
Current assets
Debtors 6 - 970
Creditors: amounts falling due
within one year 7 ( 1,258,270) ( 1,250,387)
__________ __________
Net current liabilities ( 1,258,270) ( 1,249,417)
__________ __________
Total assets less current liabilities 12,798,843 12,819,704
__________ __________
Net assets 12,798,843 12,819,704
__________ __________
Capital and reserves
Called up share capital 8 14,599,789 14,599,789
Profit and loss account ( 1,800,946) ( 1,780,085)
__________ __________
Shareholder funds 12,798,843 12,819,704
__________ __________
For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 March 2022 , and are signed on behalf of the board by:
Elena Konstantinidou
Director
Company registration number: 05479785
FITZNEAL REAL ESTATE LIMITED
Statement of changes in equity
Year ended 30 June 2021
Called up share capital Profit and loss account Total
$ $ $
At 1 July 2019 14,599,789 ( 4,014,497) 10,585,292
__________ __________ __________
(Loss)/profit for the year 2,234,412 2,234,412
__________ __________ __________
Total comprehensive income for the year - 2,234,412 2,234,412
__________ __________ __________
At 30 June 2020 and 1 July 2020 14,599,789 ( 1,780,085) 12,819,704
__________ __________ __________
(Loss)/profit for the year ( 20,861) ( 20,861)
__________ __________ __________
Total comprehensive income for the year - ( 20,861) ( 20,861)
__________ __________ __________
At 30 June 2021 14,599,789 ( 1,800,946) 12,798,843
__________ __________ __________
FITZNEAL REAL ESTATE LIMITED
Notes to the financial statements
Year ended 30 June 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 52 Grosvenor Gardens, Nwms Office 514, 5th Floor, Belgravia, London, SW1W 0AU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis and under the historical cost convention. The financial statements are prepared in U.S. dollars, which is the functional currency of the entity, and rounded to the nearest dollar .
Going concern
At the time of approving the financial statements, the director believes that the company has adequate resources to continue in operational existence for a period of twelve months from the date of approval of the financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).
5. Investments
Shares in group undertaking and participating interest
$
Cost
At 1 July 2020 and 30 June 2021 15,737,165
__________ |
Impairment
At 1 July 2020 1,668,044
Impairment loss 12,008
__________ |
At 30 June 2021 1,680,052
__________ |
Carrying amount
At 30 June 2021 14,057,113
__________ |
At 30 June 2020 14,069,121
__________ |
6. Debtors
2021 2020
$ $
Other debtors - 970
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
$ $
Amounts owed to parent undertaking 1,252,415 1,246,198
Other creditors 5,855 4,189
_________ _________
1,258,270 1,250,387
_________ _________
8. Called up share capital
Issued, called up and fully paid
2021 2020
No $ No $
Ordinary shares of USD 1.6043 each 9,100,611 14,599,789 9,100,611 14,599,789
__________ | __________ | __________ | __________ |
The share capital of the company is issued in pound sterling - 9,100,611 Ordinary shares of £1 each. The called up share capital is stated on the statement of financial position in U.S. dollars at the rate of exchange prevailing on the date of issue.
9. Related party transactions
The parent undertaking has continued to provide financial support to the company during the year. The amount owed to the parent undertaking at the reporting date was $1,252,415 (2020 - $1,246,198). This is an unsecured interest-free loan repayable on demand.
10. Controlling party
The company's parent and ultimate parent undertaking is Eternium Group Ltd , a company registered in Marshall Islands.