ACCOUNTS - Final Accounts

66 PONT STREET LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2021-12-312021-12-31112021-01-01No description of principal activityfalsefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04034131 2021-01-01 2021-12-31 04034131 2020-01-01 2020-12-31 04034131 2021-12-31 04034131 2020-12-31 04034131 c:Director1 2021-01-01 2021-12-31 04034131 d:CurrentFinancialInstruments 2021-12-31 04034131 d:CurrentFinancialInstruments 2020-12-31 04034131 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04034131 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 04034131 d:ShareCapital 2021-12-31 04034131 d:ShareCapital 2020-12-31 04034131 d:RetainedEarningsAccumulatedLosses 2021-12-31 04034131 d:RetainedEarningsAccumulatedLosses 2020-12-31 04034131 c:FRS102 2021-01-01 2021-12-31 04034131 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 04034131 c:FullAccounts 2021-01-01 2021-12-31 04034131 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 04034131

66 PONT STREET LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

66 PONT STREET LIMITED

REGISTERED NUMBER: 04034131

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	500,000		-
Cash at bank and in hand	6	18		18
		500,018		18
Creditors: amounts falling due within one year	7	(6,288)		-
Net current assets			493,730		18
Total assets less current liabilities			493,730		18

Net assets			493,730		18

Capital and reserves
Called up share capital	6	6
Profit and loss account	493,724	12
	493,730	18

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 March 2023.

Stephen Sellar

Director

The notes on pages 2 to 4 form part of these financial statements.

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66 PONT STREET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

66 Pont Street Limited is a company limited by shares and incorporated in England & Wales under registration number 04034131. The registered office is 14th Floor, 33 Cavendish Square, London W1G 0PW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an

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66 PONT STREET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.6

Financial instruments (continued)

out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

4.	Investment property

During the year, the company's parent PLI No. 4 Limited surrendered the leases in the freehold property at 66 Pont Street to the company. The company subsequently surrendered these leases back to PLI No. 4 Limited giving rise to a gain of £500,000.

Debtors

					2021	2020
					£	£


Amounts owed by group undertakings	500,000	-
	500,000	-

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66 PONT STREET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

5.Debtors (continued)

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	18	18
	18	18

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Accruals and deferred income	6,288	-
	6,288	-

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