Registration number:
38 Roland Gardens Limited
for the Year Ended 31 October 2023
38 Roland Gardens Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
38 Roland Gardens Limited
Company Information
Directors |
L Klein A L Tennant |
Company secretary |
Willmotts (Ealing) Limited |
Registered office |
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Accountants |
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38 Roland Gardens Limited
(Registration number: 3264169)
Statement of Financial Position as at 31 October 2023
Note |
2023 |
2022 |
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Current assets |
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Receivables |
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Cash at bank |
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Payables: Amounts falling due within one year |
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Net assets |
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Equity |
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Called up share capital |
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Share premium reserve |
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Company reserve |
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Total equity |
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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:
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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
.........................................
Director
38 Roland Gardens Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2023
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.
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
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
38 Roland Gardens Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2023 (continued)
Receivables |
2023 |
2022 |
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Deficit to be recharged to lessees |
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Other receivables |
- |
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Prepayments |
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Cash at bank |
2023 |
2022 |
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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.
Payables |
2023 |
2022 |
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Due within one year |
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Service charge creditors - unpaid invoices |
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Receipts in advance |
- |
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Accrued expenses |
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38 Roland Gardens Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2023 (continued)
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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5 |
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5 |
The company has one class of share capital which carries no right to fixed income.
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 |
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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 |
Related party transactions |
There were no related party transactions to disclose.