St George's Fields Limited - Accounts to registrar (filleted) - small 18.2
St George's Fields Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st December 2021 |
for |
ST GEORGE'S FIELDS LIMITED |
ST GEORGE'S FIELDS LIMITED (REGISTERED NUMBER: 01566134) |
Contents of the Financial Statements |
for the year ended 31st December 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
ST GEORGE'S FIELDS LIMITED |
Company Information |
for the year ended 31st December 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Suffolk House |
George Street |
Croydon |
Surrey |
CR0 0YN |
ST GEORGE'S FIELDS LIMITED (REGISTERED NUMBER: 01566134) |
Statement of Financial Position |
31st December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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 |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Other reserves |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ST GEORGE'S FIELDS LIMITED (REGISTERED NUMBER: 01566134) |
Notes to the Financial Statements |
for the year ended 31st December 2021 |
1. | STATUTORY INFORMATION |
St George's Fields Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company's income is derived from its ownership of the freehold title of the estate known as St George's Fields, rental of three properties within the estate and from the profit of its trading subsidiary St George's Fields (No.2) Limited. Contributions are made to estate infrastructure projects only when funds are available. The directors therefore believe that the company has sufficient resources for the foreseeable future. As a result, the going concern basis of accounting has been adopted |
Preparation of consolidated financial statements |
The financial statements contain information about St George's Fields Limited 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. |
Tangible fixed assets |
Office equipment and furniture | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The properties have been valued by the directors based on recent sales values of similar flats in a similar condition. |
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 statement of financial position date. |
ST GEORGE'S FIELDS LIMITED (REGISTERED NUMBER: 01566134) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Rental income |
Rental income is recognised in the period to which the rent relates. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
Freehold | and |
property | furniture | Totals |
£ | £ | £ |
COST |
At 1st January 2021 |
and 31st December 2021 |
DEPRECIATION |
At 1st January 2021 |
Charge for year |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
The freehold property is in respect of the land on which the St George's Fields Estate is built. The directors are of the opinion that the value of the freehold property is at least equal to the balance sheet value. |
ST GEORGE'S FIELDS LIMITED (REGISTERED NUMBER: 01566134) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2021 |
and 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
The above investment represents the whole of the share capital of the company's subsidiary, St George's Fields (No.2) Limited. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st January 2021 |
Additions |
Revaluations | 79,668 |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
Fair value at 31st December 2021 is represented by: | £ |
Valuation in 2013 | 1,830,949 |
Valuation in 2014 - increase | 440,000 |
Valuation in 2015 - no change | - |
Valuation in 2016 - increase | 10,000 |
Valuation in 2017 - no change | - |
Valuation in 2018 - decrease | (145,000 | ) |
Valuation in 2019 - increase | 10,000 |
Valuation in 2020 - decrease | (130,000 | ) |
Valuation in 2021 - increase | 79,668 |
Cost of acquisition | 689,383 |
2,785,000 |
ST GEORGE'S FIELDS LIMITED (REGISTERED NUMBER: 01566134) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed by group undertakings |
Sundry debtors and prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Sundry creditors and accruals |
9. | PROVISIONS FOR LIABILITIES |
31.12.21 | 31.12.20 |
£ | £ |
Deferred tax | 421,326 | 305,071 |
Deferred |
tax |
£ |
Balance at 1st January 2021 |
Fair value adjustments | 116,255 |
Balance at 31st December 2021 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The audit report provided to the members of St. George's Fields Limited on the financial statements for the year ended 31st December 2021 was unqualified. |
The audit report was signed by Wreford & Partners, Chartered Accountants and Statutory Auditor. |
11. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
12. | ULTIMATE CONTROLLING PARTY |
There is no controlling party. |