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REGISTERED NUMBER: 02479773 (England and Wales)















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: Professor E Johnson
F Testa
J S Thacker





SECRETARY: J S Thacker





REGISTERED OFFICE: 1 - 5 Hornton Street
London
W8 7NP





REGISTERED NUMBER: 02479773 (England and Wales)





ACCOUNTANTS: LBCo Ltd
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.

Professor E Johnson
F Testa
J S Thacker

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:





J S Thacker - Director


16 January 2024

HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773)

Income Statement
For The Year Ended 31 March 2023

31.3.23 31.3.22
£    £   

TURNOVER 44,296 51,122

Administrative Expenses (12,824 ) (1,632 )
Service Charge Expenditure (53,888 ) (53,876 )
OPERATING LOSS (22,416 ) (4,386 )

Income from fixed asset investments 583,660 -
Interest receivable and similar income 181 4
561,425 (4,382 )

Interest payable and similar expenses (98 ) (26 )
PROFIT/(LOSS) BEFORE TAXATION 561,327 (4,408 )

Tax on profit/(loss) (109,080 ) (1,351 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

452,247

(5,759

)

HORNTON STREET RESIDENTS LIMITED (REGISTERED NUMBER: 02479773)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1 43,610

CURRENT ASSETS
Debtors 5 631,839 54,860

CREDITORS
Amounts falling due within one year 6 140,201 15,469
NET CURRENT ASSETS 491,638 39,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,639

83,001

PROVISIONS FOR LIABILITIES 7 - 8,285
NET ASSETS 491,639 74,716

CAPITAL AND RESERVES
Called up share capital 16 16
Non distributable reserve 8 - 35,324
Retained earnings 491,623 39,376
SHAREHOLDERS' FUNDS 491,639 74,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared 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 16 January 2024 and were signed on its behalf by:





J S Thacker - Director


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 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.

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 43,610
Disposals (43,609 )
At 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 43,610

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 4,195 6,759
Other debtors 595,974 1,528
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 4 4
Prepayments and accrued income 10,858 274
631,839 54,860

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Lessee account balances 14,808 1,224
Trade Creditors - 6,508
Corporation tax 111,985 2,807
Lessee account balances 2,371 -
Accrued expenses 11,037 4,930
140,201 15,469

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 8,285
Credit to Income Statement during year (8,285 )
Balance at 31 March 2023 -

8. REVALUATION RESERVES
Non
distributable
reserve
£   
At 1 April 2022 35,324
Written back on sale of
investment property (35,324 )

At 31 March 2023 -