Company registration number 03056567 (England and Wales)
ST. HILDA'S WHARF (WAPPING) FREEHOLD COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ST. HILDA'S WHARF (WAPPING) FREEHOLD COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ST. HILDA'S WHARF (WAPPING) FREEHOLD COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
37,605
37,605
Current assets
Debtors
4
1,947
1,835
Creditors: amounts falling due within one year
5
(313)
(307)
Net current assets
1,634
1,528
Net assets
39,239
39,133
Capital and reserves
Called up share capital
36,997
36,997
Profit and loss reserves
2,242
2,136
Total equity
39,239
39,133

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 16 July 2024 and are signed on its behalf by:
Mr Kenneth Titchen
Director
Company registration number 03056567 (England and Wales)
ST. HILDA'S WHARF (WAPPING) FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

St. Hilda's Wharf (Wapping) Freehold Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is D & G Block Management Limited, 4th Floor, 192-198 Vauxhall Bridge Road, London, England, SW1V 1DX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents ground rent receivables.

 

Expenses

The administrative expenses incurred by the Company are recharged to the management company at cost and are included in the Service Charge Accounts presented to the lessees.

 

 

1.3
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ST. HILDA'S WHARF (WAPPING) FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Freehold property
£
Cost
At 1 January 2023 and 31 December 2023
37,605
Depreciation and impairment
At 1 January 2023 and 31 December 2023
-
0
Carrying amount
At 31 December 2023
37,605
At 31 December 2022
37,605

The freehold property comprise of costs paid by the company in acquiring the freehold. The lessees are members of the company. The directors consider the freehold interest is held for administrative purposes and not intended to generate rental income except for one flat out of thirty nine. Accordingly the directors are of the opinion that the freehold property be classified as property, plant and equipment under FRS102 and be stated at cost to the lessees as the company does not derive significant income from it.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amount held by agents
1,947
1,835
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amount due to Management Company
47
-
0
Corporation tax
21
61
Loan notes
245
246
313
307
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