COMPANY REGISTRATION NUMBER:
01232631
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 June 2023
Current assets
Debtors |
5 |
374,920 |
|
230,103 |
Cash at bank and in hand |
7,072 |
|
5,750 |
|
--------- |
|
--------- |
|
381,992 |
|
235,853 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
3,826,160 |
|
4,177,663 |
|
------------ |
|
------------ |
Net current liabilities |
|
3,444,168 |
3,941,810 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
(
3,444,168) |
(
3,941,810) |
|
|
------------ |
------------ |
Net liabilities |
|
(
3,444,168) |
(
3,941,810) |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
310,100 |
310,100 |
Profit and loss account |
|
(
3,754,268) |
(
4,251,910) |
|
|
------------ |
------------ |
Shareholders deficit |
|
(
3,444,168) |
(
3,941,810) |
|
|
------------ |
------------ |
|
|
|
|
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 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
16 February 2024
, and are signed on behalf of the board by:
Company registration number:
01232631
Notes to the Financial Statements |
|
Year ended 30 June 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Ymu Business Management Ltd, 180 Great Portland Place, London, W1W 5QZ, England.
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 measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date the company had net liabilities of £3,444,168 (2022: £3,941,810). In the opinion of the directors, the going concern basis is appropriate to the company as the parent company will ensure that adequate finance will continue to become available for a minimum of 12 months from the date of approval of the accounts.
Revenue recognition
Turnover represents net rental income and management charges, excluding Value Added Tax.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contract actual arrangement, as either financial assets, financial liabilities or equity instruments of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2022:
10
).
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
245,566 |
206,553 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
128,598 |
23,050 |
Other debtors |
756 |
500 |
|
--------- |
--------- |
|
374,920 |
230,103 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
4,254 |
2,191 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
3,567,690 |
4,102,282 |
Social security and other taxes |
219,502 |
65,476 |
Other creditors |
34,714 |
7,714 |
|
------------ |
------------ |
|
3,826,160 |
4,177,663 |
|
------------ |
------------ |
|
|
|
7.
Director's advances, credits and guarantees
A director has given an unlimited guarantee to Barclays Bank plc dated 28 May 1985.
8.
Related party transactions
The company has taken advantage of the exemption available not to disclose transactions with other group companies which are 100% owned within the group.