38 Roland Gardens Limited 3264169 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is the management of the Freehold property known as 38 Roland Gardens, London, SW7 3PL. The company does not trade with a view to profit. Digita Accounts Production Advanced 6.30.9574.0 true true 3264169 2022-11-01 2023-10-31 3264169 2023-10-31 3264169 bus:OrdinaryShareClass1 2023-10-31 3264169 core:RetainedEarningsAccumulatedLosses 2023-10-31 3264169 core:ShareCapital 2023-10-31 3264169 core:SharePremium 2023-10-31 3264169 core:CurrentFinancialInstruments 2023-10-31 3264169 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 3264169 bus:SmallEntities 2022-11-01 2023-10-31 3264169 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 3264169 bus:FullAccounts 2022-11-01 2023-10-31 3264169 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 3264169 bus:RegisteredOffice 2022-11-01 2023-10-31 3264169 bus:CompanySecretary1 2022-11-01 2023-10-31 3264169 bus:Director1 2022-11-01 2023-10-31 3264169 bus:Director2 2022-11-01 2023-10-31 3264169 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 3264169 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 3264169 countries:EnglandWales 2022-11-01 2023-10-31 3264169 2021-11-01 2022-10-31 3264169 2022-10-31 3264169 bus:OrdinaryShareClass1 2022-10-31 3264169 core:RetainedEarningsAccumulatedLosses 2022-10-31 3264169 core:ShareCapital 2022-10-31 3264169 core:SharePremium 2022-10-31 3264169 core:CurrentFinancialInstruments 2022-10-31 3264169 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3264169

38 Roland Gardens Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

38 Roland Gardens Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

38 Roland Gardens Limited

Company Information

Directors

L Klein

A L Tennant

Company secretary

Willmotts (Ealing) Limited

Registered office

Willmott House
12 Blacks Road
Hammersmith
London
W6 9EU

Accountants

Service Charge Assurance Limited
Chartered Accountants
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

38 Roland Gardens Limited

(Registration number: 3264169)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Receivables

4

4,622

9,527

Cash at bank

5

9,224

6,394

 

13,846

15,921

Payables: Amounts falling due within one year

6

(2,838)

(6,301)

Net assets

 

11,008

9,620

Equity

 

Called up share capital

7

5

5

Share premium reserve

9,530

9,530

Company reserve

1,473

85

Total equity

 

11,008

9,620

For the financial year ending 31 October 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 and in accordance with the provisions of FRS 102 1A - small entities.

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 Income statement.

Approved and authorised by the Board on 11 July 2024 and signed on its behalf by:
 

.........................................

L Klein
Director

 

38 Roland Gardens Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2023

1

General information

38 Roland Gardens Limited (the 'company') is a private company limited by share capital,incorporated in England and Wales under the Companies Act.

The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the Directors' Report on page 2.

2

Accounting policies

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Departures from Companies Act requirements

The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income, cost of sales has been replaced by service charge expenditure and profit/(loss) has been replaced by surplus/(deficit). This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activity. The result for the year is unaffected by the accounting treatment adopted.

 

38 Roland Gardens Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987.
Service charge income represents variable service charges receivable from the members for the year.

Taxation

The company acts as a trustee in respect of funds held to manage 38 Roland Gardens, London, SW7. In consequence, service charge contributions and service charge expenditure items are neither taxable nor allowable for corporation tax purposes and therefore there is no liability to UK corporation tax.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.

Receivables

Service charge arrears are amounts due at the financial year end from the leaseholders.

Payables

Payables 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.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

38 Roland Gardens Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2023 (continued)

4

Receivables

2023
£

2022
£

Deficit to be recharged to lessees

3,257

3,257

Other receivables

-

228

Prepayments

1,365

6,042

4,622

9,527

5

Cash at bank

2023
£

2022
£

Cash at bank

9,224

6,394

Funds are held in trust at National Westminster Bank plc in a designated client account maintained by Willmotts (Ealing) Ltd, the managing agent.

6

Payables

2023
£

2022
£

Due within one year

Service charge creditors - unpaid invoices

643

5,739

Receipts in advance

-

40

Accrued expenses

2,195

522

2,838

6,301

 

38 Roland Gardens Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2023 (continued)

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

5

5

5

5

         

The company has one class of share capital which carries no right to fixed income.

8

Reserves


Share Premium Reserve
The share premium reserve represents the premium paid for a new share above the nominal value, net of issue costs. This reserve forms part of the company's non-distributable reserves.

Company Reserve
The company reserve represents cumulative surpluses and deficits and other adjustments.
 

Share capital
£

Share premium
£

Company reserve
£

Total
£

At 1 November 2022

5

9,530

85

9,620

Profit for the year

-

-

1,388

1,388

Total comprehensive income

-

-

1,388

1,388

At 31 October 2023

5

9,530

1,473

11,008

9

Related party transactions

There were no related party transactions to disclose.