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Registration number: 02465822

FLORENCE STREET MANAGEMENT LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

FLORENCE STREET MANAGEMENT LIMITED

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

FLORENCE STREET MANAGEMENT LIMITED

Company Information

Directors

MS D GOODGER

MS R WALFORD

Company secretary

MR R H H WALFORD

Registered office

82 HALTON ROAD
ISLINGTON
LONDON
N1 2AD

Accountants

Jacques and Associates Ltd ICPA

64 CHELMSFORD ROAD
HOLLAND ON SEA
ESSEX
CO15 5DJ

 

FLORENCE STREET MANAGEMENT LIMITED

(Registration number: 02465822)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,300

2,300

Current assets

 

Debtors

5

731

731

Cash at bank and in hand

 

530

221

 

1,261

952

Creditors: Amounts falling due within one year

6

(8,728)

(8,254)

Net current liabilities

 

(7,467)

(7,302)

Net liabilities

 

(5,167)

(5,002)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(5,267)

(5,102)

Shareholders' deficit

 

(5,167)

(5,002)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2024 and signed on its behalf by:
 

 

FLORENCE STREET MANAGEMENT LIMITED

(Registration number: 02465822)
Balance Sheet as at 30 June 2023

.........................................
MS D GOODGER
Director

.........................................
MS R WALFORD
Director

 

FLORENCE STREET MANAGEMENT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
82 HALTON ROAD
ISLINGTON
LONDON
N1 2AD

The principal place of business is:
BASEMENT FLAT
3 FLORENCE STREET
LONDON
N1 2DX

These financial statements were authorised for issue by the Board on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

FLORENCE STREET MANAGEMENT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

FLORENCE STREET MANAGEMENT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2022

2,300

2,300

At 30 June 2023

2,300

2,300

Depreciation

Carrying amount

At 30 June 2023

2,300

2,300

At 30 June 2022

2,300

2,300

Included within the net book value of land and buildings above is £2,300 (2022 - £2,300) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

731

731

 

731

731

 

FLORENCE STREET MANAGEMENT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

188

188

Other creditors

8,540

8,066

8,728

8,254

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100