COMPANY REGISTRATION NUMBER:
05616521
Filleted Unaudited Financial Statements |
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Statement of Financial Position |
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31 December 2022
Fixed assets
Current assets
Creditors: amounts falling due within one year |
6 |
1 |
1 |
|
---- |
---- |
Net current assets |
1 |
1 |
|
---- |
---- |
Total assets less current liabilities |
2 |
2 |
|
---- |
---- |
|
|
|
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Capital and reserves
Called up share capital |
2 |
2 |
|
---- |
---- |
Shareholders funds |
2 |
2 |
|
---- |
---- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
13 November 2023
, and are signed on behalf of the board by:
Company registration number:
05616521
Notes to the Financial Statements |
|
Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor 345 Oxford Street, London, W1C 2JD, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current year or prior year.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2022 and 31 December 2022 |
1 |
|
---- |
Impairment |
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At 1 January 2022 and 31 December 2022 |
– |
|
---- |
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|
Carrying amount |
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At 31 December 2022 |
1 |
|
---- |
At 31 December 2021 |
1 |
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---- |
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5.
Debtors
|
2022 |
2021 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
2 |
2 |
|
---- |
---- |
|
|
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6.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1 |
1 |
|
---- |
---- |
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|
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7.
Controlling party
At the period end, 100% of the Company's voting shares were held by
Pradera Limited
, a company registered in England and Wales. The ultimate parent company is Kuno Investments Limited
, a company registered in the British Virgin Islands. The consolidated financial statements of Pradera Group Limited
, a company registered in England and Wales under registration number 06879270 is the largest consolidation group, whereas the Pradera Limited consolidated financial statements are the smallest group financial statements in which the company is included. Copies of both sets of consolidated financial statements are available from the registered offices of these companies who are both located at Jubilee House, 345 Oxford Street, London, UK, W1C 2JD. Kuno Investments Limited is jointly under the control of HSBC International Trustee Limited, Jersey Branch (as trustee of the Colin Campbell Family Trust), registered in Jersey and Alvarium Investments Limited. At the period end HSBC International Trustee Limited, Jersey Branch (as trustee of the Colin Campbell Family Trust), ultimately held 50.1 percent and AlTi ultimately held 49.9 percent of voting shares in Pradera Limited.