Mansion Park Properties Ltd - Accounts to registrar (filleted) - small 18.2
Mansion Park Properties Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2020 |
| for |
| Mansion Park Properties Ltd |
| Mansion Park Properties Ltd (Registered number: 06522134) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Mansion Park Properties Ltd |
| Company Information |
| for the Year Ended 31 December 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 67 Westow Street |
| London |
| United Kingdom |
| SE19 3RW |
| Mansion Park Properties Ltd (Registered number: 06522134) |
| Balance Sheet |
| 31 December 2020 |
| 31.12.20 | 31.12.19 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Mansion Park Properties Ltd (Registered number: 06522134) |
| Balance Sheet - continued |
| 31 December 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Mansion Park Properties Ltd (Registered number: 06522134) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Mansion Park Properties Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Mansion Park Properties Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Exemption from preparing consolidated accounts is claimed on the basis that this is a small group. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment properties are shown at most recent valuation. any aggregate surplus or deficit arising from changes in market value are recognised in the income statement. |
| In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS 102 section 1A in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. |
| However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| Mansion Park Properties Ltd (Registered number: 06522134) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2020 |
| and 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiary |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Associated companies |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2020 |
| and 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| Mansion Park Properties Ltd (Registered number: 06522134) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 6. | INVESTMENT PROPERTY - continued |
| Fair value at 31 December 2020 is represented by: |
| £ |
| Cost | 3,144,372 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Cost | 3,144,372 | 3,144,372 |
| Investment properties were valued on an open market basis on 31 December 2020 by the director . |
| 7. | DEBTORS |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Trade creditors | ( |
) | ( |
) |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.20 | 31.12.19 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| Mansion Park Properties Ltd (Registered number: 06522134) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 10. | RELATED PARTY DISCLOSURES |
| 'Other Creditors' falling due after more than 1 year includes an amount totalling £7,687,190 (2019: £7,463,291) owed to Patriot Fjarfesting ehf, the controlling company. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Patriot Fjarfesting ehf, a companyregistered in Iceland.. |