Company Registration No. 08416421 (England and Wales)
83 LADBROKE GROVE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
83 LADBROKE GROVE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
83 LADBROKE GROVE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
105,115
105,115
Current assets
-
-
Creditors: amounts falling due within one year
5
(105,107)
(105,107)
Net current liabilities
(105,107)
(105,107)
Net assets
8
8
Capital and reserves
-
-
Called up share capital
8
8

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 13 October 2023 and are signed on its behalf by:
K Reiff-Musgrove
Director
Company registration number 08416421 (England and Wales)
83 LADBROKE GROVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

83 Ladbroke Grove Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, rounded to the nearest £.

The financial statements have been prepared on the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

1.2
Going concern

The company is dependent on financial support from related parties to provide working capital. They have indicated that these will not be repaid until such time as the company has sufficient funds. Consequently the financial statements have been prepared on the going concern basis.true

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost less their estimated residual values over their useful lives, other than freehold land which is not depreciated.

1.4
Impairment of fixed assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

 

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the income statement.

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

83 LADBROKE GROVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

 

Financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.

 

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.

 

Financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
83 LADBROKE GROVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 and 28 February 2023
105,115
Depreciation and impairment
At 1 March 2022 and 28 February 2023
-
0
Carrying amount
At 28 February 2023
105,115
At 28 February 2022
105,115
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
105,107
105,107
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

In 2014 the company purchased the freehold of 83 Ladbroke Grove for a total consideration of £105,107. The purchase price was funded by the company's 8 shareholders in proportion to the size of flat owned by each shareholder and the company issued loan notes to each of the 8 shareholders in exchange for the funds provided. The loan notes are interest free and have no fixed repayment date.

 

Loan in relation to Flat 1 £10,784

Loan in relation to Flat 2 £14,238

Loan in relation to Flat 3 £16,297

Loan in relation to Flat 4 £16,765

Loan in relation to Flat 5 £15,822

Loan in relation to Flat 6 £13,168

Loan in relation to Flat 7 £9,847

Loan in relation to Flat 8 £8,186

2023-02-282022-03-01false13 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityDavid LargeKaja Reiff-MusgroveM Klein084164212022-03-012023-02-28084164212023-02-28084164212022-02-2808416421core:LandBuildings2023-02-2808416421core:LandBuildings2022-02-2808416421core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2808416421core:CurrentFinancialInstrumentscore:WithinOneYear2022-02-2808416421core:ShareCapital2023-02-2808416421core:ShareCapital2022-02-2808416421bus:Director22022-03-012023-02-28084164212021-03-012022-02-2808416421core:LandBuildings2022-02-2808416421core:CurrentFinancialInstruments2023-02-2808416421core:CurrentFinancialInstruments2022-02-2808416421bus:PrivateLimitedCompanyLtd2022-03-012023-02-2808416421bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-2808416421bus:FRS1022022-03-012023-02-2808416421bus:AuditExemptWithAccountantsReport2022-03-012023-02-2808416421bus:Director12022-03-012023-02-2808416421bus:CompanySecretary12022-03-012023-02-2808416421bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP