REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 31 December 2023 |
for |
RIVERVIEW GARDENS (FREEHOLD) LIMITED |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
For The Year Ended 31 December 2023 |
for |
RIVERVIEW GARDENS (FREEHOLD) LIMITED |
RIVERVIEW GARDENS (FREEHOLD) LIMITED (REGISTERED NUMBER: 05598939) |
Contents of the Financial Statements |
For The Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
RIVERVIEW GARDENS (FREEHOLD) LIMITED |
Company Information |
For The Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
T/A Lees-Buckley & Co |
16 Northfields Prospect |
Putney Bridge Road |
London |
SW18 1PE |
RIVERVIEW GARDENS (FREEHOLD) LIMITED (REGISTERED NUMBER: 05598939) |
Report of the Directors |
For The Year Ended 31 December 2023 |
The directors present their report with the financial statements of the company for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company is the ownership of the freehold of the Riverview Gardens Estate, London SW13 and the management of the property. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2023 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: |
RIVERVIEW GARDENS (FREEHOLD) LIMITED (REGISTERED NUMBER: 05598939) |
Income Statement |
For The Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS | ( |
) | ( |
) |
Profit on part disposal of |
reversionary interest | 4 |
(3,544 | ) | 128,980 |
Interest receivable and similar income |
(LOSS)/PROFIT BEFORE TAXATION | ( |
) |
Tax on (loss)/profit | ( |
) |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
RIVERVIEW GARDENS (FREEHOLD) LIMITED (REGISTERED NUMBER: 05598939) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
RIVERVIEW GARDENS (FREEHOLD) LIMITED (REGISTERED NUMBER: 05598939) |
Notes to the Financial Statements |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Riverview Gardens (Freehold) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Service Charge Balances |
The company is trustee for the service charge of its freehold 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 ground rents and licence fees receivable. |
Investment property |
No depreciation is provided on the freehold investment property. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | EXCEPTIONAL ITEMS |
31.12.23 | 31.12.22 |
£ | £ |
Profit on part disposal of |
reversionary interest |
5. | SERVICE CHARGE FUND |
During the year the company received contributions from the lessees of Riverview Gardens, London SW13 in | respect of the management of the property. The movement of those funds during the year was as follows; |
31.12.23 | 31.12.22 |
£ | £ |
Contributions receivable from lessees |
Service charge demands | 342,998 | 299,998 |
Service charge expenditure | (360,838 | ) | (314,836 | ) |
(17,840 | ) | (14,838 | ) |
Transfer from reserve fund | 17,840 | 14,838 |
0 | 0 |
RIVERVIEW GARDENS (FREEHOLD) LIMITED (REGISTERED NUMBER: 05598939) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
6. | INVESTMENT PROPERTY |
Freehold Property At Cost |
31.12.23 | 31.12.22 |
£ | £ |
Playground | 24,168 | 24,168 |
Porter's area, store and parking space | 12,084 | 12,084 |
Lock-up garage | 12,084 | 12,084 |
Bicycle sheds and cellars | 12,084 | 12,084 |
Reversion | 121 | 121 |
60,541 | 60,541 |
The company owns the freehold of Riverview Gardens, London SW13, subject to long leases granted to the | members of the company. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Lessee arrears |
Funds held by managing agents* | 703,564 | 474,559 |
Other debtors | 10,380 | 4,800 |
Prepayments and accrued income |
*Held in one interest bearing and one non-interest bearing account in the name of "Quadrant Property Management Limited Client Account re Riverview Gardens (Freehold) Limited" with National Westminster Bank Plc. |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Lessee account balances |
Trade creditors | 19,402 | 77,692 |
Corporation tax | - | 23,482 |
Other creditors |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Shareholder loans |
Service charge reserve fund |
(Note 11) | 670,196 | 314,056 |
RIVERVIEW GARDENS (FREEHOLD) LIMITED (REGISTERED NUMBER: 05598939) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 |
Deficit for the year | ( |
) |
At 31 December 2023 |
11. | SERVICE CHARGE RESERVE FUND |
31.12.23 | 31.12.22 |
£ | £ |
Balance at 01.01.23 | 314,056 | 527,575 |
Reserve demands | 400,000 | 325,000 |
Transfer to annual service charge expenditure | (17,840 | ) | (14,838 | ) |
Major works expenditure in year | (26,020 | ) | (523,681 | ) |
Balance at 31.12.23 | 670,196 | 314,056 |
The balance of reserves represents a provision for the major works programme as advised by the company's | surveyors. |