Registered number:
10558373
BBS NT PARK CENTRAL (A) LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 DECEMBER 2017
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BBS NT PARK CENTRAL (A) LIMITED
REGISTERED NUMBER:
10558373
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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Net current (liabilities)/assets
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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 period 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.
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
:
................................................
L Waines
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Page 1
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BBS NT PARK CENTRAL (A) LIMITED
REGISTERED NUMBER:
10558373
BALANCE SHEET
(CONTINUED)
AS AT
31 DECEMBER 2017
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BBS NT PARK CENTRAL (A) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017
BBS NT Park Central (A) Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office is Adisson Management Limited 104 Lancaster Gate, First Floor, London, England, W2 3NT. The company number is 10558373.
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
.
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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙
the amount of revenue can be measured reliably;
∙
it is probable that the Company will receive the consideration due under the contract;
∙
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙
the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
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.
Page 3
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BBS NT PARK CENTRAL (A) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017
2.
Accounting policies (continued)
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.
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.
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The average monthly number of employees, including directors, during the period was
2
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Page 4
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BBS NT PARK CENTRAL (A) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 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 £1,199,691 relating to preference shares issued during the period.
On 8 February 2017, 1,199,691 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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Page 5
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BBS NT PARK CENTRAL (A) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2017
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Financial assets measured at fair value through profit or loss
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Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.
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Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio comprise….
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Allotted, called up and fully paid
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50,000 A Shares shares of £
0.01
each
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32,264 B Shares shares of £
0.01
each
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17,735 C Shares shares of £
0.01
each
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During the period 50,000 £0.01 Ordinary A Shares, 32,264 £0.01 Ordinary B Shares, 17,735 £0.01 Ordinary C Shares were issued and fully paid up at par to form the share base of the company.
A further 1,199,691 6% preference shares were also issued and fully paid up at par during the period
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