COMPANY REGISTRATION NUMBER:
04962972
256 - 262 Kingsbury Road Management Company Limited |
|
Filleted Unaudited Financial Statements |
|
256 - 262 Kingsbury Road Management Company Limited |
|
Statement of Financial Position |
|
30 November 2023
Fixed assets
Tangible assets |
4 |
7,456 |
7,456 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
6,003 |
5,145 |
|
------- |
------- |
Net current liabilities |
6,003 |
5,145 |
|
------- |
------- |
Total assets less current liabilities |
1,453 |
2,311 |
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
7,456 |
7,456 |
|
------- |
------- |
Net liabilities |
(
6,003) |
(
5,145) |
|
------- |
------- |
|
|
|
|
Capital and reserves
Called up share capital |
11 |
11 |
Profit and loss account |
(
6,014) |
(
5,156) |
|
------- |
------- |
Shareholders deficit |
(
6,003) |
(
5,145) |
|
------- |
------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2024
, and are signed on behalf of the board by:
Company registration number:
04962972
256 - 262 Kingsbury Road Management Company Limited |
|
Notes to the Financial Statements |
|
Year ended 30 November 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Devonshire House, 582 Honeypot Lane, Stanmore, Middlesex, HA7 1JS.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Service charge monies
In accordance with the recommendations of the Association of Residential Managing Agents, and the Institute of Chartered Accountants in England and Wales, taking into account various provisions contained in S42 of the Landlord & Tenant Act 1987, all service charge monies are deemed to be held in trust by the company, and therefore, with effect from 1 December 2008, are not accounted for as if they were company assets. All such transactions are presented in a separate Statement of Account for Service Charges.
Revenue recognition
Turnover represents ground rents receivable.
Tangible assets
All fixed assets are initially recorded at cost. No depreciation has been provided on the freehold land as it is not considered to depreciate in value. The directors believe that this accounting policy is appropriate and is necessary for the accounts to show a true and fair view as required under the Companies Act 2006.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tangible assets
|
Land and buildings |
|
£ |
Cost |
|
At 1 December 2022 and 30 November 2023 |
7,456 |
|
------- |
Depreciation |
|
At 1 December 2022 and 30 November 2023 |
– |
|
------- |
Carrying amount |
|
At 30 November 2023 |
7,456 |
|
------- |
At 30 November 2022 |
7,456 |
|
------- |
|
|
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Corporation tax |
39 |
39 |
Other creditors |
5,964 |
5,106 |
|
------- |
------- |
|
6,003 |
5,145 |
|
------- |
------- |
|
|
|
6.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Contributions from leaseholders for purchase of freehold |
7,456 |
7,456 |
|
------- |
------- |
|
|
|
7.
Related party transactions
No one party had overall control of the company, throughout the current and previous year.