Company Registration No. 09664966 (England and Wales)
ASTINDALE LONDON
ROAD LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2022
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
ASTINDALE LONDON ROAD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ASTINDALE LONDON ROAD LIMITED
Company Registration No. 09664966
BALANCE SHEET
AS AT
30 APRIL 2022
30 April 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
34,629
755,925
Cash at bank and in hand
14,677
33,982
49,306
789,907
Creditors: amounts falling due within one year
4
(351,214)
(1,072,559)
Net current liabilities
(301,908)
(282,652)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(302,008)
(282,752)
Total equity
(301,908)
(282,652)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2022 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.
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.
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 20 April 2023 and are signed on its behalf by:
N A Latter
Director
ASTINDALE LONDON ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
- 2 -
1
Accounting policies
Company information
Astindale London Road Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company has made a net loss of £19,256 and has net liabilities of £301,908, which incudes £346,829 due to S J Tenzin Limited, its parent company.
Whilst the current COVID-19 pandemic has created uncertainty over the future financial implications to the worldwide economy, the directors confirmed that they will continue to support the company and is confident that it has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations.
Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for property development services provided in the normal course of business, and is shown net of VAT.
Income is recognised on the property sale completion date.
1.4
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
ASTINDALE LONDON ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
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
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
3
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
34,629
755,925
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
2,754
6,908
Amounts owed to group undertakings
346,830
993,448
Other creditors
1,630
72,203
351,214
1,072,559
ASTINDALE LONDON ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
- 4 -
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
50
50
50
50
Ordinary B shares of £1 each
50
50
50
50
100
100
100
100
6
Directors' benefits, advances, credits and guarantees
At the beginning of the year the company was owed £32,658 by N A Latter, the director. Interest on the balance was calculated at 2% which totalled to £653. At the balance sheet date the balance due from the director was £33,311.
7
Parent company
The parent company is S J Tenzin Limited, a company registered in England and Wales. The ultimate controlling party is K Harper.