Registration number:
Ground Rent Estates 4 Limited
for the Year Ended 31 October 2021
Ground Rent Estates 4 Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Ground Rent Estates 4 Limited
Company Information
Directors |
R Steinhouse J Jackson-Shilling D I Pither |
Company secretary |
J Jackson-Shilling |
Registered office |
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Accountants |
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Ground Rent Estates 4 Limited
(Registration number: 05997900)
Balance Sheet as at 31 October 2021
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2020 |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Total equity |
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For the financial year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Ground Rent Estates 4 Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for ground rent, lease extensions, fees, insurance premiums and freehold sales. Ground rents and insurance premiums are recognised in the period to which they relate. Fees are recognised when the service is performed. Freehold sales and lease extensions are recognised when the transaction is completed. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax together with the value of tax losses surrendered or relieved as appropriate, charged on a £1 for £1 basis. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Ground Rent Estates 4 Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
Stocks
Stocks of ground rents are acquired and held with the intention of resale and are valued at the lower of cost and net realisable value.
Net realisable value is based on estimate selling price less further costs to completion and disposal.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Stocks |
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2020 |
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Freehold property stock |
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Debtors |
Note |
2021 |
2020 |
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Amounts owed by group undertakings |
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Ground Rent Estates 4 Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
Creditors |
2021 |
2020 |
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Due within one year |
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Amounts owed to group undertakings |
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Related party transactions |
The company has taken advantage of the exemption under FRS 102 Section 1AC.35 from disclosing transactions with other group companies wholly owned within the group.