Punta De La Mona Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03912427 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Punta De La Mona Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S B Krarup

SECRETARY:

P B Adams

REGISTERED OFFICE:

Suite 2

Victoria House

South Steet

Farnham

Surrey

GU9 7QU

REGISTERED NUMBER:

03912427 (England and Wales)

ACCOUNTANTS:

Branston Adams

Suite 2, Victoria House

South Street

Farnham

Surrey

GU9 7QU

FIXED ASSETS

Tangible assets

4

359,711

359,711

CREDITORS

Amounts falling due within one year

5

359,709

359,709

NET CURRENT LIABILITIES

(359,709

)

(359,709

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2

2

CAPITAL AND RESERVES

Called up share capital

2

2

SHAREHOLDERS' FUNDS

2

2

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 20 July 2021 and were signed by:

S B Krarup - Director

1.	STATUTORY INFORMATION

Punta De La Mona Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

The director is departing from generally accepted accounting principles, with regard to the depreciation of freehold property, as he is of the opinion that any depreciation or accumulated depreciation would be immaterial to the accounts, given the long useful economic life and high residual value of the property (see note 4 to these accounts).

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 1 ).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2020

and 31 December 2020

359,711

NET BOOK VALUE

At 31 December 2020

359,711

At 31 December 2019

359,711

The freehold is a Spanish residential property. The director is departing from generally accepted accounting principles, with regard to the depreciation of freehold property, as he is of the opinion that any depreciation or accumulated depreciation would be immaterial to the accounts, given the long useful economic life and high residual value of the property.

The directors have undertaken to carry out a programme of maintenance and regular impairment reviews to ensure that the reported value of the property is not in excess of its actual value.s.

The depreciation adjustment which would be required to bring the accounts into line with generally accepted accounting principles is not material at this time.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Other creditors

359,709

359,709

6.	RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £359,709 due from the company to the director. This balance arose on the transfer of the property into the company.

7.	CONTROLLING PARTY

The company was controlled by the director throughout the current and proceeding period.