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REGISTERED NUMBER: 03255652 (England and Wales)















Report of the Directors and

Unaudited Financial Statements

For The Year Ended 24 December 2023

for

HALLAM COURT RESIDENTS ASSOCIATION
LIMITED

HALLAM COURT RESIDENTS ASSOCIATION
LIMITED (REGISTERED NUMBER: 03255652)






Contents of the Financial Statements
For The Year Ended 24 December 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


HALLAM COURT RESIDENTS ASSOCIATION
LIMITED

Company Information
For The Year Ended 24 December 2023







DIRECTORS: S C Bond
B Harle
M Lababedi
A K Ayoub Agha
T Chamsi-Pasha
S Chamsi-Pasha
O Lababedi
A J Barber
N D Craig





REGISTERED OFFICE: Unit 16
Northfields Prospect Business Centre
Putney Bridge Road
London
SW18 1PE





REGISTERED NUMBER: 03255652 (England and Wales)





ACCOUNTANTS: LBCo Ltd
T/A Lees-Buckley & Co
16 Northfields Prospect
Putney Bridge Road
London
SW18 1PE

HALLAM COURT RESIDENTS ASSOCIATION
LIMITED (REGISTERED NUMBER: 03255652)

Report of the Directors
For The Year Ended 24 December 2023

The directors present their report with the financial statements of the company for the year ended 24 December 2023.

PRINCIPAL ACTIVITY
The company owns the headlease of Hallam Court, 77 Hallam Street, London W1.
The company's principal activity during the year was the management of the above property.

DIRECTORS
The directors shown below have held office during the whole of the period from 25 December 2022 to the date of this report.

S C Bond
B Harle
M Lababedi
A K Ayoub Agha

Other changes in directors holding office are as follows:

F Chamsi-Pasha - resigned 28 February 2023
C M Chamsi-Pasha - resigned 28 February 2023
R V Proctor - resigned 28 February 2023
H Y Proctor - appointed 28 February 2023
T Chamsi-Pasha - appointed 28 February 2023
S Chamsi-Pasha - appointed 28 February 2023
O Lababedi - appointed 28 February 2023

A J Barber and N D Craig were appointed as directors after 24 December 2023 but prior to the date of this report.

H Y Proctor ceased to be a director after 24 December 2023 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

BY ORDER OF THE BOARD:





A K Ayoub Agha - Director


15 August 2024

HALLAM COURT RESIDENTS ASSOCIATION
LIMITED (REGISTERED NUMBER: 03255652)

Income Statement
For The Year Ended 24 December 2023

24.12.23 24.12.22
Notes £    £   

TURNOVER 3,891 3,941

Rent Payable (625 ) (625 )
GROSS PROFIT 3,266 3,316

Administrative expenses (3,231 ) (4,937 )
OPERATING PROFIT/(LOSS) 4 35 (1,621 )

Interest receivable and similar income - 51
PROFIT/(LOSS) BEFORE TAXATION 35 (1,570 )

Tax on profit/(loss) - (10 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

35

(1,580

)

HALLAM COURT RESIDENTS ASSOCIATION
LIMITED (REGISTERED NUMBER: 03255652)

Balance Sheet
24 December 2023

24.12.23 24.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 43,268 48,824

CURRENT ASSETS
Debtors 7 208,345 284,865
Cash at bank 143,646 148,738
351,991 433,603
CREDITORS
Amounts falling due within one year 8 206,431 260,695
NET CURRENT ASSETS 145,560 172,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,828

221,732

PROVISIONS FOR LIABILITIES 9 62,358 95,297
NET ASSETS 126,470 126,435

CAPITAL AND RESERVES
Called up share capital 10 119 119
Share premium 11 135,952 135,952
Retained earnings 11 (9,601 ) (9,636 )
SHAREHOLDERS' FUNDS 126,470 126,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared 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 15 August 2024 and were signed on its behalf by:



A K Ayoub Agha - Director


HALLAM COURT RESIDENTS ASSOCIATION
LIMITED (REGISTERED NUMBER: 03255652)

Notes to the Financial Statements
For The Year Ended 24 December 2023

1. STATUTORY INFORMATION

Hallam Court Residents Association Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Service Charge Balances
The company is trustee for the service charge of its leasehold property and related expenditure is commissioned in its own (company) name. Accordingly, and whilst service charge income and expenditure have been excluded from the Profit and Loss Account, related assets and liabilities are recorded in the Balance Sheet with movement therein shown in notes to the financial statements.

Turnover
Turnover represents rental income for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over the period of the lease

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging:

24.12.23 24.12.22
£    £   
Depreciation - owned assets 1,894 1,935

HALLAM COURT RESIDENTS ASSOCIATION
LIMITED (REGISTERED NUMBER: 03255652)

Notes to the Financial Statements - continued
For The Year Ended 24 December 2023

5. SERVICE CHARGE ACCOUNT

During the year the company charged contributions to the lessees of Hallam Court London W1 in respect of the management of the property. The movement of those funds during the year was as follows;


24.12.23 24.12.22
£ £
Service charge charged 277,328 240,667
Excess service charge charged 4,759 2,924
282,087 243,591

Service charge expenditure (314,618 ) (344,385 )
Transfer from reserve fund 32,939 98,959
Surplus / (Deficit) for the year 408 (1,835 )

Opening cumulative deficit (4,759 ) (2,924 )
Closing cumulative deficit (4,351 ) (4,759 )
All service expenditure is recoverable from the lessees.

6. TANGIBLE FIXED ASSETS
Short
leasehold
£   
COST
At 25 December 2022 75,556
Disposals (5,667 )
At 24 December 2023 69,889
DEPRECIATION
At 25 December 2022 26,732
Charge for year 1,894
Eliminated on disposal (2,005 )
At 24 December 2023 26,621
NET BOOK VALUE
At 24 December 2023 43,268
At 24 December 2022 48,824

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
24.12.23 24.12.22
£    £   
Lessee Arrears 71,812 65,495
Other Debtors 22,026 21,496
Funds Held By Managing Agents 73,933 161,214
Service Charge Deficit(Note 5) 4,351 4,759
Prepayments and accrued income 36,223 31,901
208,345 284,865

HALLAM COURT RESIDENTS ASSOCIATION
LIMITED (REGISTERED NUMBER: 03255652)

Notes to the Financial Statements - continued
For The Year Ended 24 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
24.12.23 24.12.22
£    £   
Trade creditors 31,596 58,763
Corporation Tax 22 22
Other creditors 31,225 32,344
Advance payments of service
charge and ground rent 11,838 10,987
Accrued expenses 131,750 158,579
206,431 260,695

9. PROVISIONS FOR LIABILITIES

Service charge reserve fund
24.12.2324.12.22
£ £
Balance at 25.12.2295,297194,256
Transfer from reserve during the year (note 5)(32,939)(98,959)
Balance at 24.12.2362,35895,297

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 24.12.23 24.12.22
value: £    £   
33 Ordinary £1 33 33
86,410 "B" 0.1p 86 86
119 119

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 25 December 2022 (9,636 ) 135,952 126,316
Profit for the year 35 35
At 24 December 2023 (9,601 ) 135,952 126,351

12. COMMITMENTS

The commitment of the company within one year in respect of non-cancellable operating leases is as follows:


24.12.23 24.12.22
£ £
Rental lease expiring in more than five years 625 625