REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 24 December 2022 |
for |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 24 December 2022 |
for |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03255652) |
Contents of the Financial Statements |
For The Year Ended 24 December 2022 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED |
Company Information |
For The Year Ended 24 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
T/A Lees-Buckley & Co |
16 Northfields Prospect |
Putney Bridge Road |
London |
SW18 1PE |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03255652) |
Report of the Directors |
For The Year Ended 24 December 2022 |
The directors present their report with the financial statements of the company for the year ended 24 December 2022. |
PRINCIPAL ACTIVITY |
The company owns the headlease of Hallam Court, 77 Hallam Street, London W1. |
The company's principal activity during the year was the management of the above property. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 25 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. |
BY ORDER OF THE BOARD: |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03255652) |
Income Statement |
For The Year Ended 24 December 2022 |
24.12.22 | 24.12.21 |
Notes | £ | £ |
TURNOVER |
Rent Payable | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING (LOSS)/PROFIT | 4 | ( |
) |
Interest receivable and similar income |
(LOSS)/PROFIT BEFORE TAXATION | ( |
) |
Tax on (loss)/profit | ( |
) | ( |
) |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03255652) |
Balance Sheet |
24 December 2022 |
24.12.22 | 24.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium | 11 |
Retained earnings | 11 | ( |
) | ( |
) |
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 |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03255652) |
Notes to the Financial Statements |
For The Year Ended 24 December 2022 |
1. | STATUTORY INFORMATION |
Hallam Court Residents Association 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 leasehold 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 for the year. |
Tangible fixed assets |
Land and buildings | - |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | OPERATING (LOSS)/PROFIT |
The operating loss (2021 - operating profit) is stated after charging: |
24.12.22 | 24.12.21 |
£ | £ |
Depreciation - owned assets |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03255652) |
Notes to the Financial Statements - continued |
For The Year Ended 24 December 2022 |
5. | SERVICE CHARGE ACCOUNT |
During the year the company charged contributions to the lessees of Hallam Court London W1 in respect of the management of the property. The movement of those funds during the year was as follows; |
24.12.22 | 24.12.21 |
£ | £ |
Service charge charged | 240,667 | 224,221 |
Excess service charge charged | 2,924 | 2,725 |
243,591 | 226,946 |
Service charge expenditure | (344,385 | ) | (208,927 | ) |
Transfer from / (to) reserve fund | 98,959 | (18,218 | ) |
Deficit for the year | (1,835 | ) | (199 | ) |
Opening cumulative deficit | (2,924 | ) | (2,725 | ) |
Closing cumulative deficit | (4,759 | ) | (2,924 | ) |
All service expenditure is recoverable from the lessees. |
6. | TANGIBLE FIXED ASSETS |
Short |
leasehold |
£ |
COST |
At 25 December 2021 |
and 24 December 2022 |
DEPRECIATION |
At 25 December 2021 |
Charge for year |
At 24 December 2022 |
NET BOOK VALUE |
At 24 December 2022 |
At 24 December 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
24.12.22 | 24.12.21 |
£ | £ |
Lessee Arrears |
Other Debtors |
Funds Held By Managing Agents | 161,214 | 191,259 |
Service Charge Deficit(Note 5) | 4,759 | 2,924 |
Prepayments and accrued income |
HALLAM COURT RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 03255652) |
Notes to the Financial Statements - continued |
For The Year Ended 24 December 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
24.12.22 | 24.12.21 |
£ | £ |
Trade creditors |
Corporation Tax |
Other creditors |
Advance payments of service |
charge and ground rent | 10,987 | 1,512 |
Accrued expenses |
9. | PROVISIONS FOR LIABILITIES |
Service charge reserve fund |
24.12.22 | 24.12.21 |
£ | £ |
Balance at 25.12.21 | 194,256 | 176,038 |
Transfer (from) / to reserve during the year (note 5) | (98,959 | ) | 18,218 |
Balance at 24.12.22 | 95,297 | 194,256 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 24.12.22 | 24.12.21 |
value: | £ | £ |
Ordinary | £1 | 33 | 33 |
"B" | 0.1p | 86 | 86 |
119 | 119 |
11. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 25 December 2021 | ( |
) | 127,896 |
Deficit for the year | ( |
) | ( |
) |
At 24 December 2022 | ( |
) | 126,316 |
12. | COMMITMENTS |
The commitment of the company within one year in respect of non-cancellable operating leases is as follows: |
24.12.22 | 4.12.21 |
£ | £ |
Rental lease expiring in more than five years | 625 | 625 |