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ALVARIUM STREATHAM LIMITED
REGISTERED NUMBER: 12700379
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
The company's principal activity during the year was property development.
Included within current assets is a loan receivable of GBP6,574,638 (2021: GBP5,877,766). The principal balance at 31 December 2022 is GBP5,755,732 (2021: GBP5,484,865) with interest accrued of GBP818,906 (2021: GBP392,901). The loan facility arrangement is up to GBP6,590,000 with Hadley Streatham LLP (a UK partnership with partnership number OC432013). Interest is charged at a rate of 3 months SONIA plus 0.1193. Accrued interest shall be repaid with the principal amount of the loan no later than the earlier of completion of the develpment at the site and termination of the LLP agreement.
Included in creditors: amounts due within one year are short term loans payable of GBP5,999,994 (2021: GBP5,999,994), these are interest free and repayable on demand.
Included in creditors: amounts due within one year is an amount of GBP1,116,286 (2021: GBP244,515) in relation to the company's share of partnership losses to 31 December 2022, in accordance with the partnership agreement.
The company has adopted the going concern basis in preparing its financial statements. The directors have reasonable expectation that the company has adequate resources to continue in operation existence for the foreseeable future with the support of its shareholder.
The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 May 2023.
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