REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020 |
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NO. 1 WEST INDIA QUAY (RESIDENTIAL) |
LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020 |
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FOR |
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NO. 1 WEST INDIA QUAY (RESIDENTIAL) |
LIMITED |
NO. 1 WEST INDIA QUAY (RESIDENTIAL) |
LIMITED (REGISTERED NUMBER: 04231601) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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NO. 1 WEST INDIA QUAY (RESIDENTIAL) |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
6th Floor |
Charles House |
108-110 Finchley Road |
London |
NW3 5JJ |
NO. 1 WEST INDIA QUAY (RESIDENTIAL) |
LIMITED (REGISTERED NUMBER: 04231601) |
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BALANCE SHEET |
30 APRIL 2020 |
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30.4.20 | 30.4.19 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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NO. 1 WEST INDIA QUAY (RESIDENTIAL) |
LIMITED (REGISTERED NUMBER: 04231601) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
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1. | STATUTORY INFORMATION |
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No. 1 West India Quay (Residential) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Other income |
Other income includes ground rent received. |
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Related Parties |
The company has taken advantage of FRS 102, Section 1AC.35, for the disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member. Amounts owed to and from group companies are therefore shown in aggregate. |
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Leasing commitments |
Rentals paid under operating leases are charged to profit and loss account on a straight line basis over the period of the lease. |
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Financial assets |
Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using the effective interest method, less any impairment. |
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Going Concern |
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company, therefore continues to adopt the going concern policy in preparing its financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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NO. 1 WEST INDIA QUAY (RESIDENTIAL) |
LIMITED (REGISTERED NUMBER: 04231601) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | CONTINGENT LIABILITIES |
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The company is part of an omnibus guarantee and set off agreement for securing all monies due or to become due from certain group companies which at 30 April 2020 amounted to £175 million. |
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8. | RELATED PARTY DISCLOSURES |
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Included in debtors falling due within one year is an amount of £201,906 (£2019: £216,906) owed by group undertakings. |
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Included in creditors falling due within one year is an amount of £52,179 (£2019: £nil) owed to group undertakings. |
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Amounts outstanding between group companies arise by virtue of financing transactions. These amounts are unsecured, interest free and due within one year. |
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9. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
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10. | SHAREHOLDERS' FUNDS |
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Included in retained earnings is an amount of £176,535 (2019: £235,973) which is distributable to the shareholders. |
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11. | PARENT COMPANY |
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The immediate parent company is West India Quay Development Company (Eastern) Limited. The company's accounts are consolidated in the accounts of ultimate parent undertaking Yianis Holdings Limited, incorporated in Great Britain. Its registered office address is 6th Floor, Charles House, 108-110 Finchley Road, London, NW3 5JJ. |
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12. | EVENTS AFTER THE REPORTING PERIOD |
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Subsequent to the year-end, the global economy has seen high levels of market volatility in connection with the COVID-19 pandemic. The business is closely monitoring the latest market developments relating to COVID-19 and its potential impact on the entity. The pandemic is considered a non-adjusting post balance sheet event. The ultimate impact of the COVID-19 pandemic on the global economy is highly uncertain and the full extent of the economic impacts on the financial performance of the companies are as yet unknown. The Director continues to review any developments in the COVID-19 pandemic in the context of the risks presented to the company's business. |