REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 25 December 2022 |
for |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 25 December 2022 |
for |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 05618590) |
Contents of the Financial Statements |
For The Year Ended 25 December 2022 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED |
Company Information |
For The Year Ended 25 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
T/A Lees-Buckley & Co |
16 Northfields Prospect |
Putney Bridge Road |
London |
SW18 1PE |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 05618590) |
Report of the Directors |
For The Year Ended 25 December 2022 |
The directors present their report with the financial statements of the company for the year ended 25 December 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the management of its freehold property at 19 Longridge Road, London SW5. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 26 December 2021 to the date of this report. |
Other changes in directors holding office are as follows: |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 05618590) |
Income Statement |
For The Year Ended 25 December 2022 |
25.12.22 | 25.12.21 |
£ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING DEFICIT | ( |
) | ( |
) |
Profit on part disposal of |
freehold property |
(1,119 | ) | 12,942 |
Interest payable and similar expenses | ( |
) |
(DEFICIT)/SURPLUS BEFORE TAXATION |
( |
) |
Tax on (deficit)/surplus | ( |
) |
(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR |
( |
) |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 05618590) |
Balance Sheet |
25 December 2022 |
25.12.22 | 25.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
RESERVES |
Income and expenditure account |
The directors acknowledge their 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 surplus or deficit 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 were approved by the Board of Directors and authorised for issue on |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 05618590) |
Notes to the Financial Statements |
For The Year Ended 25 December 2022 |
1. | STATUTORY INFORMATION |
19 Longridge Road Freehold Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Service Charge Balances |
The company is trustee for the service charge of the RTM property and related expenditure is commissioned in its own (company) name. Accordingly, and whilst service charge income and expenditure have been excluded from the Profit and Loss Account, related assets and liabilities are recorded in the Balance Sheet with movement therein shown in notes to the financial statements. |
Turnover |
Turnover represents rental income received. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | INVESTMENT PROPERTY |
The company owns the freehold reversionary interest of 19 Longridge Road, London SW5 subject to long leases granted to company members, which is stated at cost. In the opinion of the directors at 25th December 2022 there was no material difference between the book and fair value of the property. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
25.12.22 | 25.12.21 |
£ | £ |
Lessee arrears |
Funds held by managing agents | 64,018 | 6,263 |
Other debtors |
Service charge excess due/ |
company demands balance |
refundable (Note 8) | - | 2,655 |
Prepayments and accrued income |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 05618590) |
Notes to the Financial Statements - continued |
For The Year Ended 25 December 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
25.12.22 | 25.12.21 |
£ | £ |
Trade creditors |
Corporation tax |
Lessee account balances |
Service charge surplus/company |
demands balance refundable |
(Note 8) | 44,452 | - |
Service charge reserve fund |
(Note 9) | 21,377 | 19,877 |
Other creditors | 1,417 | 3,345 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
25.12.22 | 25.12.21 |
£ | £ |
Members' loans to fund |
freehold purchase |
19 LONGRIDGE ROAD FREEHOLD MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 05618590) |
Notes to the Financial Statements - continued |
For The Year Ended 25 December 2022 |
8. | OTHER OPERATING INCOME |
During the year the company received contributions from the lessees of 19 Longridge Road, London SW5 in respect of its administrative expenses and the management of the property. The movement of those funds during the year was as follows; |
25.12.22 | 25.12.21 |
£ | £ | £ |
Service charge charged | 13,445 | 13,690 |
Company expenses demands | 608 | 572 |
Service charge excess charged/(surplus refunded) & |
company demands surplus refunded | 3,026 | (3,110 | ) |
17,079 | 11,152 |
Service charge expenditure | 10,181 | 15,417 |
Legal fees recovered refundable to financing lessees | (41,709 | ) | 0 |
(31,528 | ) | 15,417 |
48,607 | (4,265 | ) |
Transfer to reserve fund | (1,500 | ) | (1,500 | ) |
Funds due (from)/to lessees at 25th December 2021 | (2,655 | ) | 3,110 |
Funds due to/(from) lessees at 25th December 2022 | 44,452 | (2,655 | ) |
Represented By: |
Service charge surplus/(deficit) | 43,473 | (3,227 | ) |
Company demands balance due to members | 979 | 572 |
44,452 | (2,655 | ) |
9. | SERVICE CHARGE RESERVE FUND |
25.12.22 |
25.12.21 |
£ | £ |
Balance at 26.12.21 | 19,877 | 18,377 |
Transfer to reserve from current year demands | 1,500 | 1,500 |
Balance at 25.12.22 | 21,377 | 19,877 |
10. | SHARE CAPITAL |
The company is limited by guarantee and consequently has no share capital. The company has four members guaranteeing a sum not exceeding £1 each to the company's assets in the event of winding up. |