ST. DAVID'S (NO.1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2021
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Accounting policies
The financial statements have been prepared on a going concern basis and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland ("FRS 102") and the Companies Act 2006
. The financial statements are prepared under the historical cost convention.
St. David's (No.1) Limited (the ‘Company’) is a private company limited by shares and is incorporated, domiciled and registered in England and Wales (Registered number: 04765790). The nature of the Company’s operations is set out in the Directors' Report on page 1.
The accounting policies which follow set out those policies which apply in preparing the financial statements for the period ended 31 March 2021. The financial statements are prepared in pounds Sterling (£) and are rounded to the nearest pound.
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Amounts due from related parties
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Amounts due from related parties are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, amounts due from related parties are stated at amortised cost and, where relevant, adjusted for the time value of money. The Company assesses on a forward-looking basis, the expected credit losses associated with its amounts due from related parties. A provision for impairment is made for the lifetime expected credit losses on initial recognition of the amounts due. If collection is expected in more than one year, the balance is presented within non-current assets.
In determining the expected credit losses, the Company takes into account any future expectations of likely default events based on the level of capitalisation of the counterparty.
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Statement of Comprehensive Income and other primary statements
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There was no activity in the Company for the period ended 31 March 2021 and consequently no Statement of Comprehensive Income has been disclosed.
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Amounts due from related parties
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Amounts due from related parties
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Total amounts due from related parties
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The unsecured amounts due from the related party are interest free, repayable on demand with no fixed repayment date.
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Ordinary shares of £1.00 each
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Ultimate controlling party
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The Company is controlled by St. David’s (General Partner) Limited at 31 March 2021 on behalf of LS Cardiff (GP) Investments Limited and Intu Cardiff Limited. St. David’s (General Partner) Limited is jointly controlled by Land Securities Group Plc and Intu The Hayes Limited, both of which are registered in the England and Wales. Therefore, there is no ultimate controlling party.
Consolidated financial statements for the year ended 31 March 2021, including the Company, for Land Securities Group PLC can be obtained from the Company Secretary, 100 Victoria Street, London, SW1E 5JL.
On 26 June 2020 Intu Properties plc, the ultimate parent company of Intu The Hayes Limited, entered into administration. Consolidated financial statements for the year ended 31 December 2019, including the Company, for Intu Properties plc can be obtained from Companies House.
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