| PUNTA DE LA MONA LIMITED |
| Registered number: |
03912427 |
| Balance Sheet |
| as at 31 December 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
671,520 |
|
|
359,711 |
|
| Creditors: amounts falling due within one year |
4 |
|
(390,468) |
|
|
(359,709) |
|
| liabilities |
|
|
|
(390,468) |
|
|
(359,709) |
|
| Total assets less current liabilities |
|
|
|
281,052 |
|
|
2 |
|
|
| Provisions for liabilities |
|
|
|
(59,244) |
|
|
- |
|
|
| assets |
|
|
|
221,808 |
|
|
2 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Revaluation reserve |
5 |
|
|
252,565 |
|
|
- |
| Profit and loss account |
|
|
|
(30,759) |
|
|
- |
|
| Shareholders' funds |
|
|
|
221,808 |
|
|
2 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Kenneth Bastian |
| Director |
| Approved by the board on 6 December 2022 |
|
| PUNTA DE LA MONA LIMITED |
| Notes to the Accounts |
| for the year ended 31 December 2021 |
|
|
| 1 |
Accounting policies |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Investment Property |
|
Investment properties are initially recognised at purchase price plus other directly attributable costs. Where fair value can be measured reliably without undue cost or effort the property shall be measured at fair value. Changes in fair value are recognised in profit or loss. Deferred taxation is provided on these changes in fair value at the rate expected to apply when the property is sold. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. The debtors reflected in the accounts relate to the amount owed to the company by Cipheruna for the purchase of the property. This was fully paid post year end. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 January 2021 |
359,711 |
|
Surplus on revaluation |
311,809 |
|
At 31 December 2021 |
671,520 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2021 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2021 |
671,520 |
|
At 31 December 2020 |
359,711 |
|
|
| 4 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
389,268 |
|
- |
|
Accruals |
|
|
|
|
1,200 |
|
- |
|
Other creditors |
- |
|
359,709 |
|
|
|
|
|
|
390,468 |
|
359,709 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Revaluation reserve |
2021 |
|
2020 |
| £ |
£ |
|
|
Gain on revaluation of land and buildings |
311,809 |
|
- |
|
Deferred taxation arising on the revaluation of land and buildings |
(59,244) |
|
- |
|
|
At 31 December 2021 |
252,565 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
The company has taken advantage of the exemption under FRS 102 Section 33 to not disclose transactions between two or more members of a group where one company is a wholly owned subsidiary. |
|
|
| 7 |
Controlling party |
|
|
The company is 100% owned by Cipheruna Ltd, a company incorporated in England and Wales. The ultimate controlling party is Kenneth Bastian by virtue of his shareholding in Cipheruna Ltd |
|
|
| 8 |
Other information |
|
|
PUNTA DE LA MONA LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
71-75 Shelton Street, |
|
Covent Garden, |
|
London, |
|
WC2H 9JQ |
