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Registration number: 04660482

Wendover & Moreland Courts Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Wendover & Moreland Courts Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

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

9a Burroughs Gardens
London
NW4 4AU

Accountants

Ripe LLP
Chartered Accountants
9a Burroughs Gardens
London
NW4 4AU

 

Wendover & Moreland Courts Ltd

(Registration number: 04660482)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

103,683

103,860

Current assets

 

Debtors

5

122,453

121,395

Cash at bank and in hand

 

503,215

496,685

 

625,668

618,080

Creditors: Amounts falling due within one year

6

(184,031)

(184,026)

Net current assets

 

441,637

434,054

Net assets

 

545,320

537,914

Capital and reserves

 

Called up share capital

7

110

110

Retained earnings

545,210

537,804

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 4 September 2024 and signed on its behalf by:
 

.........................................
Mr I J Goddard
Director

   
     
 

Wendover & Moreland Courts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by shares, incorporated in England and Wales.

The address of its registered office is:
9a Burroughs Gardens
London
NW4 4AU

2

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 3).

 

Wendover & Moreland Courts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

103,683

530

104,213

At 31 December 2023

103,683

530

104,213

At 1 January 2023

-

353

353

Charge for the year

-

177

177

At 31 December 2023

-

530

530

Carrying amount

At 31 December 2023

103,683

-

103,683

At 31 December 2022

103,683

177

103,860

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

5

Debtors

Current

2023
£

2022
£

Other debtors

122,453

121,395

 

122,453

121,395

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.

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

179

-

Accruals and deferred income

6,565

6,740

Other creditors

177,287

177,286

184,031

184,026

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.

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

110

110

110

110