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Company registration number:
01782462
Abingdon Court Freehold Limited
Unaudited filleted financial statements
31 March 2024
Abingdon Court Freehold Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Abingdon Court Freehold Limited
Directors and other information
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Directors |
M A Forsyth |
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V Guiraud |
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E Bacon |
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C Magnus |
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T Pitsillides |
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Secretary |
M A Forsyth |
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Company number |
01782462 |
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Registered office |
2 Tolherst Court |
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Turkey Mill Business Park, Ashford Road |
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Maidstone |
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Kent |
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ME14 5SF |
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Accountants |
Couch Bright King & Co |
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2 Tolherst Court |
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Turkey Mill Business Park, Ashford Road |
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Maidstone |
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Kent |
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ME14 5SF |
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Abingdon Court Freehold Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Abingdon Court Freehold Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abingdon Court Freehold Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Couch Bright King & Co
Chartered Accountants
2 Tolherst Court
Turkey Mill Business Park, Ashford Road
Maidstone
Kent
ME14 5SF
12 September 2024
Abingdon Court Freehold Limited
Statement of financial position
31 March 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
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4 |
34,970 |
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1,473 |
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Cash at bank and in hand |
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103 |
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33,659 |
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_______ |
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_______ |
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35,073 |
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35,132 |
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Creditors: amounts falling due |
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within one year |
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5 |
(
1,826) |
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(
1,826) |
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_______ |
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_______ |
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Net current assets |
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33,247 |
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33,306 |
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_______ |
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_______ |
Total assets less current liabilities |
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33,247 |
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33,306 |
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_______ |
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_______ |
Net assets |
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33,247 |
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33,306 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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57 |
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57 |
Capital redemption reserve |
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39,754 |
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39,754 |
Profit and loss account |
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(
6,564) |
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(
6,505) |
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_______ |
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_______ |
Shareholders funds |
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33,247 |
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33,306 |
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_______ |
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_______ |
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For the year ending 31 March 2024 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;
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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 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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
13 September 2024
, and are signed on behalf of the board by:
M A Forsyth
Director
Company registration number:
01782462
Abingdon Court Freehold Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Tolherst Court, Turkey Mill Business Park, Ashford Road, Maidstone, Kent, ME14 5SF.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover consists of rent receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
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2024 |
2023 |
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£ |
£ |
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Other debtors |
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34,970 |
1,473 |
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_______ |
_______ |
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5.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Other creditors |
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1,826 |
1,826 |
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_______ |
_______ |
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6.
Related party transactions
Abingdon Court (Tenants) Kensington Limited, a company under common control, acts as trustee for the service charge funds contributed by the tenants of Abingdon Court, London W8.
7.
Tangible Fixed Assets
All members of the Company have subscribed collectively to the cost of forming the company and acquiring the freehold of Abingdon Court, in exchange for extended leases. In the opinion of the directors the open market value of the freehold reversion is nil.
8.
Fixed Asset Investments
The company holds 100 B Ordinary Shares of 5 pence each in Abingdon Court (Tenants) Kensington Limited, which manages the company's property. All (57) tenants are also members, each holding 1 A Ordinary share of £1. The cost of acquisition of the company's shareholding was nil and these shares have only nominal value.