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REGISTERED NUMBER:
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10SJP (SALISBURY) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JULY 2017 TO 31 DECEMBER 2018 |
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REGISTERED NUMBER:
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10SJP (SALISBURY) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JULY 2017 TO 31 DECEMBER 2018 |
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10SJP (SALISBURY) LIMITED (REGISTERED NUMBER: 04953196) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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10SJP (SALISBURY) LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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14 All Saints Street |
Stamford |
Lincolnshire |
PE9 2PA |
10SJP (SALISBURY) LIMITED (REGISTERED NUMBER: 04953196) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2018 |
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2018 | 2017 |
(Unaudited) |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved and authorised for issue by the Board of Directors on
were signed on its behalf by: |
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10SJP (SALISBURY) LIMITED (REGISTERED NUMBER: 04953196) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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10SJP (Salisbury) Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The financial reporting period end has been amended to 31 December in order to align the company with |
fellow group companies. This has resulted in an extended period of reporting from 1 July 2017 to 31 December |
2018. The comparative period is twelve months to 30 June 2017. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 " The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The Financial Statements have been prepared under the historical cost |
convention, modified to include certain items at fair value. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Revenue |
Revenue comprises rents receivable from tenants under operating leases recognised on an accruals basis over |
the period of the lease as well as room rates charged for the ski chalet. Value added tax is excluded from all |
amounts. |
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The cost of any incentives given to lessees to enter into leases is spread over the period of the lease on a |
straight-line basis. Lease incentives are usually in the form of rent free periods. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes |
in fair value is recognised in profit or loss. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except |
to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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10SJP (SALISBURY) LIMITED (REGISTERED NUMBER: 04953196) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
laws that have been enacted or substantively enacted by the period end and that are expected to apply to the |
reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate |
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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Interest receivable and payable |
Interest amounts are accounted for on an accruals basis. Any net discount or premium on a financing |
instrument is amortised using the effective interest rate method over the term of the instrument. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 July 2017 |
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Additions |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 30 June 2017 |
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The property was acquired during 2017 as a brand new property and as such a professional valuation is not |
deemed necessary to acquire a reliable value for the property. |
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The directors consider that the fair value of the investment property is not materially different as at 31 |
December 2018. |
10SJP (SALISBURY) LIMITED (REGISTERED NUMBER: 04953196) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
(Unaudited) |
£ | £ |
Amounts owed by group undertakings |
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Other debtors and prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
(Unaudited) |
£ | £ |
Trade creditors |
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Amounts owed to related parties |
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Other creditors and accruals |
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7. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | 100 | 100 | 100 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 July 2017 |
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Deficit for the period | ( |
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At 31 December 2018 |
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9. | 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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10. | RELATED PARTY DISCLOSURES |
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During the year the company's ultimate controlling party made additional loans totalling £239,621 (2017 - |
£3,130,045) to the company. No interest was charged on the loans. The total balance of £3,320,171 (2017 - |
£3,130,045) remains outstanding at the year end and is disclosed in creditors due within one year in the |
absence of formal terms. |
10SJP (SALISBURY) LIMITED (REGISTERED NUMBER: 04953196) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2017 TO 31 DECEMBER 2018 |
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11. | GOING CONCERN |
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The company's ultimate controlling party has confirmed his intention to provide finance to enable the |
company and its fellow group undertakings to meet their debts as they fall due for a period of at least 12 |
months from the date of approval of the financial statements. For this reason the financial statements are |
prepared on the going concern basis. |
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12. | COMPARATIVES |
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The previous year's financial statements were not audited as the company was entitled to exemption from |
audit under section 477 of the Companies Act 2006. Accordingly, the comparatives to the current year's |
financial statements are unaudited. |
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13. | ULTIMATE PARENT COMPANY |
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The immediate parent company is 10SJP No.2 Limited. The directors consider that Mountain Berg Holdings |
Limited, a company registered in England and Wales, is the company's ultimate parent company. |
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Mountain Berg Holdings Limited heads the smallest and largest group in which the results of the company are |
consolidated. The financial statements of Mountain Berg Holdings Limited are available from Companies |
House, Crown Way, Cardiff CF14 3UZ. The registered office of the parent company and ultimate parent |
company is the same as that shown on the company information page. |