Registered number:
09996081
BBS NT PARK CENTRAL (E) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2017
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BBS NT PARK CENTRAL (E) LIMITED
REGISTERED NUMBER:
09996081
BALANCE SHEET
AS AT
31 DECEMBER 2017
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
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
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1
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BBS NT PARK CENTRAL (E) LIMITED
REGISTERED NUMBER:
09996081
BALANCE SHEET
(CONTINUED)
AS AT
31 DECEMBER 2017
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
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N A Spencer
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................................................
G F Griffin
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Page 2
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BBS NT PARK CENTRAL (E) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
BBS NT Park Central (E) Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office is Aston House, Cornwall Avenue, London, N3 1LF. The company number is 09996081.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
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The following principal accounting policies have been applied:
Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such the directors consider it appropriate to prepare the accounts on a going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. For property sales, revenue is recognised upon
completion of contracts.
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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BBS NT PARK CENTRAL (E) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
2.
Accounting policies (continued)
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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The average monthly number of employees, including directors, during the year was
6
(2016 -
7
)
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Called up share capital not paid
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Page 4
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BBS NT PARK CENTRAL (E) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Included within other creditors is an amount of £4,044,461 (2016: £4,044,461) relating to preference shares.
On 29 April 2016, 1,713,990 6% redeemable preference shares were issued at a par value of £1 per share. On 20 October 2016, a further 2,330,471 6% redeemable preference shares were issued at a par value of £1 per share. These shares reserve the right to a fixed cumulative preferential dividend at an annual rate of 6.0% of the issue price. There is no fixed term for redemption of the shares.
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Related party transactions
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Included within other debtors is an amount of £273,528 owed by BBS NT Park Central (B) Limited, a company with common directors. This loan is interest free and repayable on demand.
Included within other debtors is an amount of £163,337 owed by BBS NT Park Central (C) Limited, a company with common directors. This loan is interest free and repayable on demand.
Included within other creditors is an amount of £4,691 owed to BBS NT Park Central (D) Limited, a company with common directors. This loan is interest free and repayable on demand.
Included within other debtors is an amount of £2,248,753 owed by BBS NT Park Central (F) Limited, a company with common directors. This loan is interest free and repayable on demand.
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Page 5
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