Ground Rent Investments (UK) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05293173 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

GROUND RENT INVESTMENTS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

L C Freilich

SECRETARY:

S S Freilich

REGISTERED OFFICE:

5 Sentinel Square

Hendon

London

NW4 2EL

REGISTERED NUMBER:

05293173 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Investments

4

53,307

-

Investment property

5

235,466

184,000

288,773

184,000

CURRENT ASSETS

Debtors

6

1,652

3,314

CREDITORS

Amounts falling due within one year

7

(218,159

)

(53,357

)

NET CURRENT LIABILITIES

(216,507

)

(50,043

)

TOTAL ASSETS LESS CURRENT LIABILITIES

72,266

133,957

CREDITORS

Amounts falling due after more than one year

8

-

(73,916

)

PROVISIONS FOR LIABILITIES

(5,777

)

(5,777

)

NET ASSETS

66,489

54,264

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

23,107

23,107

Retained earnings

11

43,282

31,057

SHAREHOLDERS' FUNDS

66,489

54,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 September 2017 and were signed by:

L C Freilich - Director

1.	STATUTORY INFORMATION

Ground Rent Investments (UK) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents invoiced ground rents on investment properties and insurance commissions received.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalent

Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid

investments with original maturities of three months or less.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured

at transaction price including transaction and where material are subsequently measured at amortised cost using

the effective interest method, less any impairment.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are

classified as debt are initially measured at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at

the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in

the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a

payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are

initially recognised at transaction price and where material are subsequently measured at amortised cost using

the effective interest method

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of

the company.

Average number of employees

There were no employees in the year.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

53,307

At 31 December 2016

53,307

NET BOOK VALUE

At 31 December 2016

53,307

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2016

184,000

Additions

51,466

At 31 December 2016

235,466

NET BOOK VALUE

At 31 December 2016

235,466

At 31 December 2015

184,000

Cost or valuation at 31 December 2016 is represented by:

£

Valuation in 2014

28,884

Cost

206,582

235,466

If Investment property had not been revalued it would have been included at the following historical cost:

2016

2015

£

£

Cost

206,582

155,116

Investment property was valued on an open market value basis on 31 December 2014 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

1,229

2,482

Other debtors

423

832

1,652

3,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

4,523

Trade creditors

88

45

Taxation and social security

3,056

2,700

Other creditors

215,015

46,089

218,159

53,357

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans

-

73,916

2016

2015

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

53,905

9.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank loans

-

78,439

Bank loans and other loans are secured against the investment property held by the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2016

31,057

23,107

54,164

Profit for the year

12,225

12,225

At 31 December 2016

43,282

23,107

66,389

12.	RELATED PARTY DISCLOSURES

Moreland Estate Property Management Limited

A company under common control

During the year, Moreland Estate Property Management paid amounts on behalf of the company and charged

the company for management fees and recharges totalling £21,543 (2015: £42,552).

Receipts totalling £35,506 (2015: £37,592) were received by Moreland Estate Property Management Limited on

behalf of the company.

At the balance sheet date £nil (2015: £nil) was included in trade creditors.

Included in other creditors is a balance of £20,478 (2015: £34,440) which represents interest free loans

outstanding at the balance sheet date. The amount is repayable on demand.

2016

2015

£

£

Amount due to related party at the balance sheet date

20,478

34,440

MW Freeholds Limited

A company under common control

The amount is repayable on demand.

2016

2015

£

£

Amount due to related party at the balance sheet date

4,418

4,418

Residential Freeholds Limited

A company under common control

During the year, Residential Freeholds Limited paid amount of £144,864 (2015: £ Nil) on behalf of the company.

The amount is repayable on demand.

2016

2015

£

£

Amount due to related party at the balance sheet date

144,864

-

Ground Rent Trading Liverpool

A company under common control

The amount is repayable on demand.

2016

2015

£

£

Amount due to related party at the balance sheet date

36,000

-

Lighthouse Building Management Limited

A company under the control

The amount is repayable on demand.

2016

2015

£

£

Amount due to related party at the balance sheet date

3,807

-

13.	ULTIMATE CONTROLLING PARTY

14.	FIRST YEAR ADOPTION

FRS 102 (Section 1A) was adopted on 1 January 2016. The transition has resulted in the requirement for a

provision for deferred tax. Therefore the comparatives have been restated. The reconciliation between the old

and the new framework is shown in the Reconciliation of Equity at 1 January 2015 and 31 December 2015. The

last Financial Statements date reported under the previous framework was 31 December 2015.

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Ground Rent Investments (UK) Limited for the year ended 31 December 2016 which comprise

the Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Ground Rent Investments (UK) Limited in accordance with the terms of our engagement letter dated 26 July 2006. Our work has been undertaken solely to prepare for your approval the financial statements of Ground Rent Investments (UK) Limited and state those matters that we have agreed to state to the director of Ground Rent Investments (UK) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ground Rent Investments (UK) Limited director for our work or for this report.

It is your duty to ensure that Ground Rent Investments (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ground Rent Investments (UK) Limited. You consider that Ground Rent Investments (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ground Rent Investments (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

28 September 2017