Company registration number:
for the Year Ended
71 Nile Street Limited
(Registration number: 11509331)
Balance Sheet as at 31 December 2020
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2020 |
2019 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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71 Nile Street Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Going concern
The Company reports a loss for the year and correspondingly reports a net liabilities position at 31 December 2020. The shareholder has expressed their commitment in providing continuing financial support to the Company and confirmed that they do not intend to withdraw any funding already committed to within twelve months of the date of signing these accounts. For this reason the director considers that the preparation of the accounts on a going concern basis is appropriate.
Turnover recognition
Turnover represents rents receivable and expenses recharged to tenants in the ordinary course of the Company's activities. Turnover is recognised on an accruals basis based on the period of occupation.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
71 Nile Street Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2020
Debtors
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 and impairment.
Creditors
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
Investment properties |
31 December 2020 |
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At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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The 2020 valuations were made on an open market value for existing use basis.
71 Nile Street Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2020
Debtors |
31 December 2020 |
31 December 2019 |
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Trade debtors |
- |
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Other debtors |
3,668 |
1,113 |
Prepayments and accrued income |
3,559 |
2,851 |
Total current trade and other debtors |
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Creditors |
Note |
2020 |
2019 |
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Due within one year |
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Bank loans |
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Trade creditors |
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Amounts owed to group undertakings |
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Other taxation and social security |
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Accruals and deferred income |
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Loans and borrowings |
2020 |
2019 |
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Current loans and borrowings |
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Bank borrowings |
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Controlling party |
The company's immediate parent is
These financial statements are available upon request from Companies House, Cardiff