REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 31 March 2023 |
for |
HORNTON STREET RESIDENTS LIMITED |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 31 March 2023 |
for |
HORNTON STREET RESIDENTS LIMITED |
HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773) |
Contents of the Financial Statements |
For The Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
HORNTON STREET RESIDENTS LIMITED |
Company Information |
For The Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
T/A Lees-Buckley & Co |
16 Northfields Prospect |
Putney Bridge Road |
London |
SW18 1PE |
HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773) |
Report of the Directors |
For The Year Ended 31 March 2023 |
The directors present their report with the financial statements of the company for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The company's principal activity during the year was the management of the property at 1-5 Hornton Street, London W8. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report. |
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: |
HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773) |
Income Statement |
For The Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
£ | £ |
TURNOVER |
Administrative Expenses | ( |
) | ( |
) |
Service Charge Expenditure | ( |
) | ( |
) |
OPERATING LOSS | ( |
) | ( |
) |
Income from fixed asset investments |
Interest receivable and similar income |
561,425 | (4,382 | ) |
Interest payable and similar expenses | ( |
) | ( |
) |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) | ( |
) | ( |
) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
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 |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non distributable reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 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 were approved by the Board of Directors and authorised for issue on |
HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773) |
Notes to the Financial Statements |
For The Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Hornton Street Residents Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Service Charge Balances |
The company is trustee for the service charge of its freehold 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 service charge and rental income for the year. |
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 (2022 - NIL). |
HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Disposals | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Freehold Investment Property |
The company owns the freehold of 1-5 Hornton Street, London W8, subject to 16 long leases. |
In the opinion of the directors, whilst fair value at 31st March 2023 was substantially in excess of book value, the expense of carrying out a current valuation would have been out of proportion to any possible value to members. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Lessee Arrears |
Other debtors |
Fund Held By Managing Agents |
- Deposit Account | 10,822 | 44,787 |
Fund Held By Managing Agents |
- Current Account | 9,986 | 1,508 |
Called up share capital not paid |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Lessee account balances |
Trade Creditors | - | 6,508 |
Corporation tax |
Lessee account balances |
Accrued expenses |
7. | PROVISIONS FOR LIABILITIES |
31.3.23 | 31.3.22 |
£ | £ |
Deferred tax | - | 8,285 |
HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
7. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Credit to Income Statement during year | ( |
) |
Balance at 31 March 2023 |
8. | REVALUATION RESERVES |
Non |
distributable |
reserve |
£ |
At 1 April 2022 |
Written back on sale of |
investment property | (35,324 | ) |
At 31 March 2023 |