Company registration number 07702388 (England and Wales)
ACACIA LODGE FREEHOLD COMPANY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
ACACIA LODGE FREEHOLD COMPANY LIMITED
COMPANY INFORMATION
Directors
YP Landau-Pope
(Appointed 30 May 2023)
AA Pandya
V Patel
Company number
07702388
Registered office
Egale 1
80 St Albans Road
Watford
Herts
WD17 1DL
Accountants
Myers Clark
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
ACACIA LODGE FREEHOLD COMPANY LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 6
ACACIA LODGE FREEHOLD COMPANY LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 1 -
The directors present their annual report and financial statements for the period ended 30 September 2023.
Directors
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
YP Landau-Pope
(Appointed 30 May 2023)
AA Pandya
V Patel
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
YP Landau-Pope
Director
22 February 2024
ACACIA LODGE FREEHOLD COMPANY LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ACACIA LODGE FREEHOLD COMPANY LIMITED FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Acacia Lodge Freehold Company Limited for the period ended 30 September 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Acacia Lodge Freehold Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Acacia Lodge Freehold Company Limited and state those matters that we have agreed to state to the board of directors of Acacia Lodge Freehold Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Acacia Lodge Freehold Company Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Acacia Lodge Freehold Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Acacia Lodge Freehold Company Limited. You consider that Acacia Lodge Freehold Company Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Acacia Lodge Freehold Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Myers Clark
22 February 2024
Chartered Accountants
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
ACACIA LODGE FREEHOLD COMPANY LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 3 -
30 September 2023
31 July 2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
363,697
363,697
Current assets
Debtors
4
12
12
Net current assets
12
12
Net assets
363,709
363,709
Capital and reserves
Called up share capital
5
12
12
Freehold contribution reserve
363,697
363,697
Total equity
363,709
363,709
For the financial period ended 30 September 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 period in question in accordance with section 476.
These 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 22 February 2024 and are signed on its behalf by:
YP Landau-Pope
Director
Company registration number 07702388 (England and Wales)
ACACIA LODGE FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information
Acacia Lodge Freehold Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Egale 1, 80 St Albans Road, Watford, Herts, WD17 1DL.
1.1
Reporting period
The directors agreed to extend the reporting year end from 31 July to 30 September, in order to be coterminous with the service charge reporting date for the freehold interest owned by the company located at Acacia Lodge, 61 and 63 Hendon Lane, Finchley, London, N3 1SU. On this basis the current years accounts report a 14 month period compared to 12 months in the prior year.
1.2
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, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Profit and loss account
The company has not traded during the period or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Freehold interest is not depreciated
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received.
1.6
During the year the company has acted as agent for the lessees of the property at Acacia Lodge, 61 and 63 Hendon Lane, Finchley, London,N3 1SU . The funds in relation to the maintenance of the property are held in trust. As at 30 September 2023 the cash balance held on behalf of the lessees amounted to £6,408.
The company therefore has no income or expenditure in its own right in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. The accounts can be obtained from Acacia Lodge Freehold Company Limited.
ACACIA LODGE FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2022
Number
Number
Total
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2022 and 30 September 2023
363,697
Depreciation and impairment
At 1 August 2022 and 30 September 2023
Carrying amount
At 30 September 2023
363,697
At 31 July 2022
363,697
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
12
12
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
12
12
12
12
ACACIA LODGE FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2023
- 6 -
6
Prior period adjustment
It was resolved by the directors that the contributions made by the shareholders to purchase the freehold at Acacia Lodge, 61 and 63 Hendon Lane, Finchley, London, N3 1SU were not loans with no expectation or contract for repayment. On this basis, a prior year adjustment has be made to reclassify these amounts from long term loans to a freehold contribution reserve, as detailed in the reconciliation table below.
Changes to the balance sheet
As previously reported
Adjustment at 1 Aug 2021
Adjustment at 31 Jul 2022
As restated at 31 Jul 2022
£
£
£
£
Current assets
-
-
-
-
Debtors due within one year
-
12
-
12
Creditors due after one year
Other creditors
(363,685)
363,685
-
Net assets
12
363,697
-
363,709
Capital and reserves
Freehold contribution reserve
-
363,697
-
363,697
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 July 2022
£
£
£
Profit for the financial period
-
-
-