HARCOURT PROPERTY MANAGEMENT & FINANCIAL SERVICES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The directors present their report and the financial statements for the year ended 30 September 2023.
The principal activity of the company is to act as the service manager of the property known as 18 Harcourt
Terrace, London SW10 on a non profit basis. The whole of the service and management expenses are
recoverable from the lessees in accordance with the terms of their respective leases.
The company owns the freehold interest in 18 Harcourt Terrace, London SW10. On acquisition of the
property on 4 March 1998 new 999 year leases were granted in respect of the five flats therein.
The directors who served during the year were:
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Lady N.J.A. Orr Ewing (resigned 31 August 2023)
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Directors' responsibilities statement
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The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The company acts as trustee in respect of service charge monies collected in connection with the above
property. In accordance with accounting recommendations from ARMA (Association of Residential Managing
Agents), details of service charge monies have been excluded from the accounts as the company acts only in
a trustee capacity in this connection. Separate service charge accounts are prepared and certified.
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