Company Registration No. 04120572 (England and Wales)
TOPG (PROVIDENCE ROW) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
TOPG (PROVIDENCE ROW) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TOPG (PROVIDENCE ROW) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
3
4
4
Current assets
Debtors
5
1
1
Creditors: amounts falling due within one year
6
(4)
(4)
Net current liabilities
(3)
(3)
Total assets less current liabilities
1
1
Capital and reserves
Called up share capital
1
1
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 September 2020
T Osborne
Director
Company Registration No. 04120572
TOPG (PROVIDENCE ROW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information
TOPG (Providence Row) Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During
this time,
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.3
Fixed asset investments
Interests in
jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
1.4
Financial instruments
The company only has financial instruments that are classified as basic financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include
debtors,
are initially measured at transaction price
and subsequently measured at amortised cost less impairment.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are
initially recognised at transaction price
and subsequently measured at amortised cost.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
TOPG (PROVIDENCE ROW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
The company has certain contractual agreements with other participants to engage in joint activities that do not create an entity carrying on a trade or business of its own. The company includes its share of assets and liabilities in such joint arrangements, measured in accordance with the terms of the arrangement, which is pro-rata to the company's interest in the joint arrangement.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
1
1
3
Fixed asset investments
2019
2018
£
£
Shares in group undertakings and participating interests
4
4
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 October 2018 & 30 September 2019
4
Carrying amount
At 30 September 2019
4
At 30 September 2018
4
TOPG (PROVIDENCE ROW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
4
Joint ventures
Details of the company's joint ventures at 30 September 2019 are as follows:
Name of undertaking
Country of
Nature of business
Class of
% Held
incorporation
shares held
Direct
Crispin Street Limited
United Kingdom
Dormant
Ordinary
50.00
Crispin Street (Trustee No. Two) Limited
United Kingdom
Dormant
Ordinary
50.00
Gun Street Limited
United Kingdom
Dormant
Ordinary
50.00
Gun Street (Trustee No. Two) Limited
United Kingdom
Dormant
Ordinary
50.00
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1
1
6
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
4
4
7
Events after the reporting date
The outbreak of COVID-19 will affect this company and virtually every company in the UK. The financial
impact cannot be estimated although it is anticipated that profitability post the commencement of the
outbreak will be reduced and there is a risk that capital values may be negatively affected.
The director has considered the effect of this with regards to the going concern basis of the company and
whilst they cannot currently provide a reliable estimate of the cost to the business (given the uncertainty
over the longevity of the outbreak) they feel that it will not be detrimental to the going concern of the
business.
8
Parent company
The directors regard The Trevor Osborne Property Group Limited as the ultimate parent company.
The parent undertaking of both the smallest and largest group within which the company belongs and for
which consolidated financial statements are prepared is
The Trevor Osborne Property Group Limited and these consolidated financial statements are available from The Registrar of Companies.