Silverfin false false 30/11/2023 01/12/2022 30/11/2023 H Bali 18/10/2023 H L Bowden 18/10/2023 21/12/2020 B L Sloane 18/10/2023 N S Massie 07/12/2022 R F Mckinnon 10/05/2023 11/10/2022 J L Parkinson 16/12/2021 C I Robson 07/12/2022 B S Stavro- Pearce 18/10/2023 D G Theriault 10/07/2023 21/12/2020 30 August 2024 The principal activity of the company is to facilitate the purchase and then the ongoing ownership of the freehold of the Beaux Arts Building, a residential property located in North Islington. 13046541 2023-11-30 13046541 bus:Director1 2023-11-30 13046541 bus:Director2 2023-11-30 13046541 bus:Director3 2023-11-30 13046541 bus:Director4 2023-11-30 13046541 bus:Director5 2023-11-30 13046541 bus:Director6 2023-11-30 13046541 bus:Director7 2023-11-30 13046541 bus:Director8 2023-11-30 13046541 bus:Director9 2023-11-30 13046541 2022-11-30 13046541 core:CurrentFinancialInstruments 2023-11-30 13046541 core:CurrentFinancialInstruments 2022-11-30 13046541 core:ShareCapital 2023-11-30 13046541 core:ShareCapital 2022-11-30 13046541 core:SharePremium 2023-11-30 13046541 core:SharePremium 2022-11-30 13046541 core:RetainedEarningsAccumulatedLosses 2023-11-30 13046541 core:RetainedEarningsAccumulatedLosses 2022-11-30 13046541 bus:OrdinaryShareClass1 2023-11-30 13046541 2022-12-01 2023-11-30 13046541 bus:FilletedAccounts 2022-12-01 2023-11-30 13046541 bus:SmallEntities 2022-12-01 2023-11-30 13046541 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 13046541 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13046541 bus:Director1 2022-12-01 2023-11-30 13046541 bus:Director2 2022-12-01 2023-11-30 13046541 bus:Director3 2022-12-01 2023-11-30 13046541 bus:Director4 2022-12-01 2023-11-30 13046541 bus:Director5 2022-12-01 2023-11-30 13046541 bus:Director6 2022-12-01 2023-11-30 13046541 bus:Director7 2022-12-01 2023-11-30 13046541 bus:Director8 2022-12-01 2023-11-30 13046541 bus:Director9 2022-12-01 2023-11-30 13046541 2021-12-01 2022-11-30 13046541 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 13046541 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13046541 (England and Wales)

10-18 MANOR GARDENS LONDON LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

10-18 MANOR GARDENS LONDON LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

10-18 MANOR GARDENS LONDON LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
10-18 MANOR GARDENS LONDON LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 95,483 79,000
95,483 79,000
Current assets
Debtors 4 48,253 27,416
Cash at bank and in hand 5 4,557
48,258 31,973
Creditors: amounts falling due within one year 5 ( 11,622) ( 14,434)
Net current assets 36,636 17,539
Total assets less current liabilities 132,119 96,539
Net assets 132,119 96,539
Capital and reserves
Called-up share capital 6 176 176
Share premium account 533,880 533,880
Profit and loss account ( 401,937 ) ( 437,517 )
Total shareholders' funds 132,119 96,539

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of 10-18 Manor Gardens London Limited (registered number: 13046541) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

N S Massie
Director

30 August 2024

10-18 MANOR GARDENS LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
10-18 MANOR GARDENS LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

10-18 Manor Gardens London Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received for ground rents provided in the normal course of business. The fair value of consideration takes into account any discounts given.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits
Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Leases


The company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 9 8

3. Investment property

Investment property
£
Valuation
As at 01 December 2022 79,000
Fair value movement 16,483
As at 30 November 2023 95,483

4. Debtors

2023 2022
£ £
Trade debtors 0 3,063
Other debtors 48,253 24,353
48,253 27,416

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 5,190 2,591
Other creditors 6,432 11,843
11,622 14,434

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
176 Ordinary A shares of £ 1.00 each 176 176