Registration number:
Wendover & Moreland Courts Ltd
for the Year Ended 31 December 2023
Wendover & Moreland Courts Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Wendover & Moreland Courts Ltd
Company Information
Directors |
Mr D A Dallal Ms S Edwards Mr I J Goddard Mr S M Sikandary |
Company Secretary |
Mr A P Sainer |
Registered office |
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Accountants |
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Wendover & Moreland Courts Ltd
(Registration number: 04660482)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
110 |
110 |
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Retained earnings |
545,210 |
537,804 |
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Shareholders' funds |
545,320 |
537,914 |
Wendover & Moreland Courts Ltd
(Registration number: 04660482)
Balance Sheet as at 31 December 2023
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Wendover & Moreland Courts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by shares, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' for smaller entities. There were no material departures from this standard during the reporting period.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover represents ground rents receivable.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Wendover & Moreland Courts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tangible assets
In accordance with Financial Reporting Standard 102 section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' for smaller entities, no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view.
The company is in the process of granting 999-year leases to its shareholders subsequent to which the freehold property will be revalued.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Wendover & Moreland Courts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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The freehold property represents the freehold interests in Wendover and Moreland Courts.
During the year, one 999-year lease was granted to a tenant in respect of consideration received in 2006, (2022: one was granted).
Wendover & Moreland Courts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
Current |
2023 |
2022 |
Other debtors |
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Included in other debtors is a balance for the sum of £114,706, (2022: £112,389) due from Trust Property Management Limited in respect of the ground rent and service charge accounts.
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Other creditors includes £170,146 (2022: £170,146) of loan capital designated for the purchase of the freehold of Moreland Court and the freehold, head lease and underlease of Wendover Court, now all merged into the freehold. The loan capital was introduced by tenants directly, by the Wendover and Moreland Courts Residents Association and from other Residents' funds.
The loan capital is being repaid by the granting of 999-year leases, as referred to in the notes above.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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110 |
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110 |