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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investments | 3 |
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Current assets | |||||||
Debtors | 4 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 | ( |
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Net current assets |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Profit and loss account |
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Shareholder's funds |
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S T Glanville | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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The accounts are presented in pounds sterling (£). |
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The accounts are prepared on the historical cost basis except that investment properties are stated at their fair value. |
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The Company is exempt under the small companies regime of the Companies Act 2006 from the requirement to prepare group financial statements. These financial statements present information about the Company as an individual undertaking and not about its group. | ||||||||
Turnover | ||||||||
All of the company's turnover is derived from invesment property in the UK which is leased to third parties under operating leases. Rental income is recognised on a straight-line basis over the term of the relevant operating lease. The aggregate cost of lease incentives are recognised as a reduction of rental income on a straight-line basis over the term of the lease. |
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Investments | ||||||||
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Investment Property | ||||||||
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are stated at fair value. Any gain or loss arising from a change in fair value is recognised in the profit and loss statement. Deferred taxation is provided on these gains or losses at the rate expected to apply when the property is sold. Rental income from investment property is accounted for as described in the turnover accounting policy. Gains or losses arising from the retirement or disposal of investment property, being the difference between the net disposal proceeds and carrying value, are included in profit or loss for the year of the retirement/disposal. |
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Foreign currency translation | ||||||||
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Leased assets | ||||||||
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2 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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The company had no employees during the current or preceeding financial years. Fees in respect of directors' services are paid to a related undertaking (see note 6). | ||||||||
3 | Investments | |||||||
Investments in | ||||||||
subsidiary | Investment | |||||||
undertakings | Property | Total | ||||||
£ | £ | £ | ||||||
Fair value | ||||||||
At 1 April 2021 |
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Revaluation | - | - | - | |||||
At 31 March 2022 |
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Historical cost | ||||||||
At 1 April 2021 | 1 | 125,000 | ||||||
At 31 March 2022 | 1 | 125,000 | ||||||
The company has valued its investments at fair value. | ||||||||
The company owns 100% of the shares of Jolan Piccadilly Limited, a property investment company registered in the United Kingdom with registered address at First Floor, Finchale House, Belmont Business Park, Durham, DH1 1TW. | ||||||||
4 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest (see note 6) |
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Other debtors |
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5 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest (see note 6) |
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Taxation and social security costs | - |
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Other creditors |
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6 | Related party transactions | |||||||
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Transactions in the year | Amounts due from / (to) | |||||||
2022 | 2021 | 2022 | 2021 | |||||
£ | £ | £ | £ | |||||
API Limited | ||||||||
Fees in respect of property management services | 1,200 | 1,200 | - | - | ||||
Candama Investors LP | ||||||||
Payments made on account | - | - | 400,000 | 400,000 | ||||
Provision is made against this receiveable of £400,000 (2021: £400,000) as it is not expected to be recoverable. | ||||||||
Crossco Limited | ||||||||
Payments made on account | - | - | 10,772,500 | 10,772,500 | ||||
Derandd Investment Partners LP | ||||||||
Payments made on account | - | - | 689,498 | 689,498 | ||||
Golftee LP 4 Limited | ||||||||
Purchase of subsidiary | - | - | (1) | (1) | ||||
Jolan Piccadilly Limited | ||||||||
Payments made on account | - | - | - | - | ||||
Michael Noble Investments | ||||||||
Fees in respect of directors' services | 3,000 | 3,000 | - | - | ||||
MNFI Limited Partnership | ||||||||
Payments made on account | - | - | - | - | ||||
Reger Holding Limited | ||||||||
Payments made on account | - | - | (32,505) | (22,817) | ||||
All related party balances are unsecured and will be settled by cash generated from operations. | ||||||||
7 | Controlling party | |||||||
The directors regard Crossco Limited as the immediate controlling party. In the directors' opinion there is no ultimate controlling party. The results of the company are not included in any group financial statements. |
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8 | Other information | |||||||
Stampflat Limited is a private company limited by shares and incorporated in England. The registered number is 05308762 and the registered office is: | ||||||||
First Floor, Finchale House | ||||||||
Belmont Business Park | ||||||||
Durham | ||||||||
DH1 1TW |