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REGISTERED NUMBER: 04680700 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DOWN STREET FREEHOLD COMPANY LIMITED

DOWN STREET FREEHOLD COMPANY LIMITED (REGISTERED NUMBER: 04680700)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DOWN STREET FREEHOLD COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S F Colflesh
M S Yehia
P W Bell
M Darling
P R Menmuir
M H Cheong





SECRETARY: MSP Corporate Services Limited





REGISTERED OFFICE: Eastcastle House
27/28 Eastcastle Street
London
W1W 8DH





REGISTERED NUMBER: 04680700 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

DOWN STREET FREEHOLD COMPANY LIMITED (REGISTERED NUMBER: 04680700)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 50,000 50,000

CURRENT ASSETS
Debtors 5 1,028 2,560
Cash at bank 6 100,954 93,760
101,982 96,320
CREDITORS
Amounts falling due within one year 7 5,280 7,046
NET CURRENT ASSETS 96,702 89,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,702

139,274

CAPITAL AND RESERVES
Called up share capital 8 130,397 130,397
Other reserves 9 - 4,617
Retained earnings 9 16,305 4,260
SHAREHOLDERS' FUNDS 146,702 139,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

DOWN STREET FREEHOLD COMPANY LIMITED (REGISTERED NUMBER: 04680700)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





P R Menmuir - Director


DOWN STREET FREEHOLD COMPANY LIMITED (REGISTERED NUMBER: 04680700)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Down Street Freehold Company 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.

Turnover and activities
The company is the freehold owner of the property known as 22&23 Down Street and 12 &12 A Brick Street, W1J, London. Its activities are exclusively dedicated to the ownership of the freehold title and carrying out the responsibilities related thereto.

Its revenues comprise the ground rents and other receipts relating to the property's 29 long-term leasehold units and a management charge to the property's service charge fund in order to recover expenses incurred for independent professional services related to the governance of the company. This is recognised in the period to which it relates.

The company does not pay fees to any of its directors. The company's treasury operations (cash and bank movements and balances) are handled by First Port Group Limited, the managing agent of the property.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from any changes in fair value since the introduction of FRS 102 Section 1A "Small Entities" will be recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax if applicable. A substantial part of the company's profits and losses, arising from activities with its members, is exempt from taxation.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

DOWN STREET FREEHOLD COMPANY LIMITED (REGISTERED NUMBER: 04680700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 50,000
NET BOOK VALUE
At 31 December 2023 50,000
At 31 December 2022 50,000

The company's freehold is subject to residential and commercial leases.

The valuation of £50,000 is based on the directors' assessment of the freehold title´s value in use to the company at the date it was acquired, which is based on the capitalisation of future receipts of ground rent and assumes there is no cost of collection because such process is carried out by the property´s managing agent together with the collection of service charges.The directors consider that the valuation of the freehold at 31 December 2023 is unchanged.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,028 2,560

At 31 December 2023 debtors included £655 owed to the Down Street Freehold Company by the Service Charge Account, as managed by First Port Property Services Limited.

6. CASH AT BANK
2023 2022
£    £   
Bank account no. 1 100,954 93,760

At 31 December 2023, the £100,954 is held in trust by First Port Property Services Limited on behalf of Down Street Freehold Company Limited. In September 2024, the funds were transferred to a separate client account held in trust for the company at Barclays Bank.

At 31 December 2022, £93,760 of funds were held by Blenheims Estate and Asset Management Limited on behalf of the company.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 5,280 7,046

DOWN STREET FREEHOLD COMPANY LIMITED (REGISTERED NUMBER: 04680700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
130,397 Ordinary £1 130,397 130,397

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 January 2023 4,260 4,617 8,877
Profit for the year 7,428 - 7,428
Transfer of reserves 4,617 (4,617 ) -
At 31 December 2023 16,305 - 16,305

10. SERVICE CHARGE FUNDS

Assets and liabilities relating to service charges are held by the company in trust for the leaseholders, under s.42 of the Landlord and Tenants Act 1987 and so are excluded from these accounts.