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COMPANY REGISTRATION NUMBER: 2628782
MERGELAWNS PROPERTY MANAGEMENT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
24 December 2021
MERGELAWNS PROPERTY MANAGEMENT LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 24 DECEMBER 2021
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
MERGELAWNS PROPERTY MANAGEMENT LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
D C Fennell
H Bradshaw
J R Feild
W E Drake
Registered office
5 Warwick Square
London
SW1V 2AA
Accountants
BSG Valentine (UK) LLP
Chartered Accountants
Lynton House
7 - 12 Tavistock Square
London
WC1H 9BQ
MERGELAWNS PROPERTY MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
24 December 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
18,153
18,153
CURRENT ASSETS
Debtors
5
100
100
----
----
NET CURRENT ASSETS
100
100
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
18,253
18,253
CREDITORS: amounts falling due after more than one year
6
( 18,153)
( 18,153)
--------
--------
NET ASSETS
100
100
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
----
----
SHAREHOLDERS FUNDS
100
100
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 24 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 September 2022 , and are signed on behalf of the board by:
H Bradshaw
Director
Company registration number: 2628782
MERGELAWNS PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 24 DECEMBER 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Warwick Square, London, SW1V 2AA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Freehold property
£
Cost
At 25 December 2020 and 24 December 2021
18,153
--------
Depreciation
At 25 December 2020 and 24 December 2021
--------
Carrying amount
At 24 December 2021
18,153
--------
At 24 December 2020
18,153
--------
Tangible Fixed assets represent the cost of the Freehold of the building at 5/6 Warwick Square.
5. Debtors
2021
2020
£
£
Other debtors
100
100
----
----
6. Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
18,153
18,153
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