Barandene Limited - Accounts to registrar (filleted) - small 18.2
Barandene Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018 |
FOR |
BARANDENE LIMITED |
BARANDENE LIMITED (REGISTERED NUMBER: 03842538) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BARANDENE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor |
105-111 Euston Street |
London |
NW1 2EW |
BARANDENE LIMITED (REGISTERED NUMBER: 03842538) |
ABRIDGED BALANCE SHEET |
28 FEBRUARY 2018 |
28/2/18 | 28/2/17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
PROVISIONS FOR LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Non distributable reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
1,200 | 53,832,835 |
The directors acknowledge their 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. |
BARANDENE LIMITED (REGISTERED NUMBER: 03842538) |
ABRIDGED BALANCE SHEET - continued |
28 FEBRUARY 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
BARANDENE LIMITED (REGISTERED NUMBER: 03842538) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
1. | STATUTORY INFORMATION |
Barandene Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Turnover represented rent and insurance income from investment properties owned by the company. |
Tangible fixed assets |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property was shown at most recent fair valuation. Any aggregate surplus or deficit arising from |
changes in market value was transferred to a non distributable reserves, in accordance with FRS 102 section 1A. |
3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2017 |
Disposals | ( |
) |
At 28 February 2018 |
DEPRECIATION |
At 1 March 2017 |
and 28 February 2018 |
NET BOOK VALUE |
At 28 February 2018 |
At 28 February 2017 |
BARANDENE LIMITED (REGISTERED NUMBER: 03842538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
4. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
Additions | 43,318,274 |
Disposals | (43,318,274 | ) |
At 28 February 2018 | - |
NET BOOK VALUE |
At 28 February 2018 | - |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2017 |
Disposals | ( |
) |
At 28 February 2018 |
NET BOOK VALUE |
At 28 February 2018 |
At 28 February 2017 |
Fair value at 28 February 2018 is represented by: |
£ |
Valuation in 2009 | 7,478,967 |
Valuation in 2012 | 875,900 |
Valuation in 2013 | 2,535,084 |
Valuation in 2015 | 4,150,000 |
Valuation in 2016 | 22,896,016 |
Valuation in 2018 | (37,935,967 | ) |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
28/2/18 | 28/2/17 |
£ | £ |
Bank loans |
Bank Loan is secured by bank against the followings: |
a) all existing security held by the Bank for the Company's liabilities including |
i) a Debenture by the company |
ii) a first Legal Charge over the Property and its associated assets: and |
b) all future security which the Bank might from time to time to hold for the Company's liabilities. |
BARANDENE LIMITED (REGISTERED NUMBER: 03842538) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 28 February 2018 and |
28 February 2017: |
28/2/18 | 28/2/17 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
8. | COMPANY RESTRUCTURING |
During the year, the Company had a restructuring to segregate commercial risk & minimize the co-ownership of |
the investment properties held by the Company at start of the year following relevant confirmation obtained. |
The ownership of its four investment properties were consequently transferred at their market values to the four |
subsidiaries companies with consideration being the issue of shares to the Company. |
9. | ULTIMATE CONTROLLING PARTY |
Dartwo Securities Ltd owns 100% share capital in Barandene Ltd. |