Company Registration No. 12498097 (England and Wales)
EVERINVEST SECOND UNITHOLDER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
EVERINVEST SECOND UNITHOLDER LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
EVERINVEST SECOND UNITHOLDER LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021
2021-12-31
- 1 -
2021
2020
Notes
£
£
£
£
Non-current assets
Investments
2
15,829
5,829
Current assets
Trade and other receivables
3
100
100
Current liabilities
4
(15,829)
(5,829)
Net current liabilities
(15,729)
(5,729)
Net assets
100
100
Equity
Called up share capital
5
100
100
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 December 2022 and are signed on its behalf by:
M Morris
Director
Company Registration No. 12498097
EVERINVEST SECOND UNITHOLDER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information
Everinvest Second Unitholder Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
50 Weymouth Mews, Marylebone, London, W1G 7EH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Reporting period
The
comparative
reporting period
wa
s less than one year as the company was incorporated on 4 March 2020 and prepared its first financial statements for the period ending 31 December 2020.
The current period is for the full year to 31 December 2021.
1.3
Non-current investments
Fixed asset investments
are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Fixed asset investments
2021
2020
£
£
Other investments other than loans
15,829
5,829
EVERINVEST SECOND UNITHOLDER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
2
Fixed asset investments
(Continued)
- 3 -
Movements in non-current investments
Investments
£
Cost or valuation
At 1 January 2021
5,829
Additions
10,000
At 31 December 2021
15,829
Carrying amount
At 31 December 2021
15,829
At 31 December 2020
5,829
On 12 August 2021 the Partnership executed an agreement to subscribe for a further 11,500 units in Everinvest Unit Trust at a price of £1 per unit.
As at 31 December 2021 a total of £10,000 in cash had been paid in respect of the subscription.
See note 6 for details relating to a contingent liability arising from this subscription.
3
Trade and other receivables
2021
2020
Amounts falling due within one year:
£
£
Other receivables
100
100
4
Current liabilities
2021
2020
£
£
Amounts owed to group undertakings
15,829
5,829
The amounts owed to group undertakings are interest free, unsecured and repayable on demand.
5
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
100
100
100
100
EVERINVEST SECOND UNITHOLDER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
6
Financial commitments, guarantees and contingent liabilities
On 12 August 2021 the Partnership executed an agreement to subscribe for a further 11,500 units in Everinvest Unit Trust at a price of £1 per unit. As at 31 December 2021 £1,500 of the subscription monies have yet to be paid over to Everinvest Unit Trust.
Everinvest Unit Trust has the right to call for these additional monies, but has not done so to date. No provision has been made in these financial statements for the amounts that will become due should Everinvest Unit Trust exercise its right to call for the balance of subscription monies due under the Subscription Agreement.