Burlington Lodge Limited |
Notes to the Accounts |
for the year ended 31 December 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises of the service charges, parking levies and sinking fund receivable from tenant leaseholders. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the income tax payable by the trustees of the statutory trust imposed on the service charge account and sinking fund monies collected for the maintenance of the building by virtue of S.42 of The Landlord & Tenants Act 1987. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible freehold property |
2023 |
|
2022 |
£ |
£ |
|
|
At cost in 1978, including conversion expenses |
149,780 |
|
149,780 |
|
Less: Amounts received on granting 999 years leases to members |
(149,779) |
|
(149,779) |
|
|
|
|
|
|
|
£ 1 |
|
£ 1 |
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Prepayments |
£ 1,518 |
|
£ 1,054 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Tenants' service charges in advance |
37,411 |
|
36,164 |
|
Trust income tax payable |
327 |
|
36 |
|
Sundry accruals |
3,820 |
|
2,158 |
|
|
|
|
|
|
£ 41,558 |
|
£ 38,358 |
|
|
|
|
|
|
|
|
|
|
6 |
Other information |
|
|
Burlington Lodge Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
6 Burlington Lodge Studios |
|
48 Rigault Road |
|
London |
|
SW6 4JJ |