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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2021 | 2020 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investment Property | 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 liabilities | ( |
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Net liabilities | ( |
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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 | |||||||
Transition from IFRS to FRS 102 | ||||||||
These accounts for the year ending 31 March 2021 are the first accounts that comply with FRS 102 section 1A small entities. The Company has previously prepared accounts in accordance with International Financial Reporting Standards as adopted by the EU ("Adopted IFRSs"). The transition to FRS 102 and the application of all relevant accounting policies does not change the results of the company for the current or the comparative period therefore no additional explanations or information relating to the transition is necessary. | ||||||||
Basis of preparation | ||||||||
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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. | ||||||||
Going concern | ||||||||
As noted in the directors’ report, these financial statements have not been prepared on a going concern basis for the following reasons: |
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• The company relies on loans from related undertakings, which at 31 March 2021 amounted to £1,957,981 (2020: £1,957,920), to fund its operations. • The company has now disposed of the remaining investment property and the proceeds from the sale were used to repay the loans owed to the related undertakings in order for these related undertakings to settle their bank loan facility. The proceeds from the disposal were not sufficient to fully settle the loans owed to the related undertakings and the company currently has no means of repaying the remaining loan amounts. • The directors continue to review future opportunities for the company in respect of the underlying property business following the sale of the only remaining property asset. In the current economic environment and property downturn as a result of the COVID-19 situation, no suitable opportunities have been identified to date. |
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Turnover | ||||||||
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Investment Property | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Leased assets | ||||||||
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2 | Employees | 2021 | 2020 | |||||
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. No fees are paid in respect of directors' services. | ||||||||
3 | Investment Property | |||||||
The company disposed of its remaining investment property in 2019/20. | ||||||||
4 | Debtors | 2021 | 2020 | |||||
£ | £ | |||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest (see note 6) | - |
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Other taxation | 712 | 350 | ||||||
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5 | Creditors: amounts falling due within one year | 2021 | 2020 | |||||
£ | £ | |||||||
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 | - | - | ||||||
Other creditors & accruals |
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6 | Related party transactions | |||||||
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Transactions in the year | Amounts due from / (to) | |||||||
2021 | 2020 | 2021 | 2020 | |||||
£ | £ | £ | £ | |||||
API Limited | ||||||||
Fees in respect of property management services | 3,000 | 43,060 | - | 3,465 | ||||
Wellbark Property Limited | ||||||||
Payments made on account | - | - | (1,957,981) | (1,957,920) | ||||
All related party balances are unsecured. | ||||||||
7 | Controlling party | |||||||
The directors regard Golftee LP 4 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 | |||||||
Coney (York) Limited is a private company limited by shares and incorporated in England. The registered number is 05432190 and the registered office is: | ||||||||
First Floor, Finchale House | ||||||||
Belmont Business Park | ||||||||
Durham | ||||||||
DH1 1TW |