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No description of principal activity
2021-01-01
Sage Accounts Production Advanced 2021 - FRS102_2021
127,929
127,929
127,929
xbrli:pure
xbrli:shares
iso4217:GBP
04261542
2021-01-01
2021-12-31
04261542
2021-12-31
04261542
2020-12-31
04261542
bus:Director1
2021-01-01
2021-12-31
04261542
core:WithinOneYear
2021-12-31
04261542
core:WithinOneYear
2020-12-31
04261542
core:ShareCapital
2021-12-31
04261542
core:ShareCapital
2020-12-31
04261542
core:RevaluationReserve
2021-12-31
04261542
core:RevaluationReserve
2020-12-31
04261542
core:RetainedEarningsAccumulatedLosses
2021-12-31
04261542
core:RetainedEarningsAccumulatedLosses
2020-12-31
04261542
core:LandBuildings
2021-12-31
04261542
core:LandBuildings
2020-12-31
04261542
bus:SmallEntities
2021-01-01
2021-12-31
04261542
bus:AuditExempt-NoAccountantsReport
2021-01-01
2021-12-31
04261542
bus:FullAccounts
2021-01-01
2021-12-31
04261542
bus:SmallCompaniesRegimeForAccounts
2021-01-01
2021-12-31
04261542
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
04261542
core:InvestmentPropertiesRevaluationReserve
2021-01-01
2021-12-31
04261542
core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity
2021-01-01
2021-12-31
COMPANY REGISTRATION NUMBER:
04261542
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2021
Fixed assets
|
Tangible assets |
4 |
|
127,929 |
127,929 |
|
|
|
|
|
Current assets
|
Debtors |
5 |
564,894 |
|
550,175 |
|
Cash at bank and in hand |
1,935 |
|
1,463 |
|
--------- |
|
--------- |
|
566,829 |
|
551,638 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
379,705 |
|
382,850 |
|
--------- |
|
--------- |
|
Net current assets |
|
187,124 |
168,788 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
315,053 |
296,717 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
14,008 |
14,008 |
|
|
--------- |
--------- |
|
Net assets |
|
301,045 |
282,709 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
2 |
2 |
|
Fair value reserve |
7 |
|
68,392 |
68,392 |
|
Profit and loss account |
7 |
|
232,651 |
214,315 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
301,045 |
282,709 |
|
|
--------- |
--------- |
|
|
|
|
|
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 December 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
.
|
Statement of Financial Position (continued) |
|
31 December 2021
These financial statements were approved by the
board of directors
and authorised for issue on
29 March 2023
, and are signed on behalf of the board by:
Company registration number:
04261542
|
Notes to the Financial Statements |
|
Year ended 31 December 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, United Kingdom.
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
The turnover represents rents and charges receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Tangible assets
|
Land and buildings |
|
£ |
|
Cost |
|
|
At 1 January 2021 and 31 December 2021 |
127,929 |
|
--------- |
|
Depreciation |
|
|
At 1 January 2021 and 31 December 2021 |
– |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2021 |
127,929 |
|
--------- |
|
At 31 December 2020 |
127,929 |
|
--------- |
|
|
The investment properties were revalued by the directors as at 31 December 2021 having considered the open market value of the properties. No independent valuation was undertaken.
5.
Debtors
|
2021 |
2020 |
|
£ |
£ |
|
Other debtors |
564,894 |
550,175 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2021 |
2020 |
|
£ |
£ |
|
Other creditors |
379,705 |
382,850 |
|
--------- |
--------- |
|
|
|
7.
Reserves
Fair value reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses.
8.
Related party transactions
The company was under the control of Mr & Mrs B.Feldman throughout the current and previous year.
