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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 assets/(liabilities) |
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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 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 | ||||||||
At the year end the company has net current assets of £549 (2020: net current liabilities of £(136,906)) which includes amounts due to related undertakings. The company meets its day to day working capital requirements through its positive cash balances, cash generated from its operations and, where required, funding provided by related parties. These related party relationships will continue for the foreseeable future and provide the necessary working capital and financial support to allow the company to continue to trade. This on-going financial support combined with a detailed review of the company’s forecasts mean that the directors are confident that the company has sufficient resources to meet its liabilities as they fall due for at least 12 months from the date of approval of these accounts. Therefore these accounts are prepared on a going concern basis | ||||||||
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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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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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. Fees in respect of directors' services are paid to a related undertaking (see note 6). | ||||||||
3 | Investment Property | |||||||
Investment | ||||||||
Property | ||||||||
£ | ||||||||
Fair value | ||||||||
At 1 April 2020 | ( |
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Revaluation | - | |||||||
Disposals |
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At 31 March 2021 | - | |||||||
Historical cost | ||||||||
At 1 April 2020 | 201,000 | |||||||
At 31 March 2021 | - | |||||||
In November 2020 the remaining investment property asset owned by the company in Rochdale was sold for £100,000 (prior to selling costs). | ||||||||
4 | Debtors | 2021 | 2020 | |||||
£ | £ | |||||||
Trade debtors | - |
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Other debtors |
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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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Other creditors |
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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 | 101,200 | 600 | - | - | ||||
Michael Noble Investments | ||||||||
Fees in respect of directors' services | 3,000 | 3,000 | - | - | ||||
Stampflat Limited | ||||||||
Payments made on account | - | - | - | (142,000) | ||||
All related party balances are unsecured and will be settled by cash generated from operations. | ||||||||
7 | Controlling party | |||||||
The directors regard Stampflat Limited as the immediate controlling party. In the directors' opinion there is no ultimate controlling party as there is no single party which exercises control. The results of the company are not included in any group financial statements. |
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8 | Other information | |||||||
Jolan Piccadilly Limited is a private company limited by shares and incorporated in England. The registered number is 06855403 and the registered office is: | ||||||||
First Floor, Finchale House | ||||||||
Belmont Business Park | ||||||||
Durham | ||||||||
DH1 1TW |