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WESTGATE OXFORD ALLIANCE NOMINEE NO.2 LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1.
Accounting policies
The financial statements have been prepared on a going concern basis and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and Republic of Ireland ('FRS 102') and the Companies Act 2006
. The financial statements are prepared under the historical cost convention.
Westgate Oxford Alliance Nominee No.2 Limited (the ‘Company’) is a private company limited by shares and is incorporated, domiciled and registered in England and Wales (Registered number: 07111348). The nature of the Company’s operations is set out in the Directors' Report on page 1.
The accounting policies which follow set out those policies which apply in preparing the financial statements for the year ended 31 March 2021. The financial statements are prepared in Pounds Sterling (£).
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Amounts due from parent undertaking
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Amounts due from parent undertaking are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, amounts due from parent undertaking are stated at amortised cost and, where relevant, adjusted for the time value of money. The Company assesses on a forward-looking basis, the expected credit losses associated with its amounts due from parent undertaking. A provision for impairment is made for the lifetime expected credit losses on initial recognition of the amounts due.
In determining the expected credit losses, the Company takes into account any future expectations of likely default events based on the level of capitalisation of the counterparty.
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Statement of Comprehensive Income and other primary statements
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There was no activity in the Company for the year ended 31 March 2021 and consequently no Statement of Comprehensive Income has been disclosed.
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Amounts due from parent undertaking
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Westgate Oxford Alliance GP Limited
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Total amounts due from parent undertaking
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The unsecured amounts due from parent undertaking are interest free, repayable on demand with no fixed repayment date.
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Ordinary shares of £1.00 each
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The immediate parent company is Westgate Oxford Alliance GP Limited.
Westgate Oxford Alliance GP Limited is jointly owned by LS (Jaguar) GP Investments Limited and Purple Holdco Limited whose ultimate parent companies are Land Securities Group PLC and The Crown Estate Commissioners, a body corporate created by Statute, the Crown Estate Act 1961, respectively. Therefore there is no ultimate controlling party.
Land Securities Group PLC's consolidated financial statements for the year ended 31 March 2021 can be obtained from the Company Secretary, at the registered office of the ultimate parent company, 100 Victoria Street, London, SW1E 5JL and from the Group website at www.landsec.com. The most recent financial statements for The Crown Estate Commissioners can be obtained from www.thecrownestate.co.uk.
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