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Registered number: 10377085









12-14 CLEVELAND SQUARE FREEHOLD LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
 
 
COMPANY INFORMATION


Directors
L Benzoni 
C D Clark 
P J Hawkins 
S F Jamil 
M Lupi 
M D S O'Broin 
M Tollgard (resigned 8 March 2024)
A K Chainwala 
A M Hadjipateras 
M Tazi 
A G R Zegarra 
J R L Knight (appointed 7 April 2024)




Company secretary
No company secretary



Registered number
10377085



Registered office
Lps Livingstone
Wenzel House

Olds Approach

Watford

WD18 9AB




Accountants
Gibson Appleby Chartered Accountants

1-3 Ship Street

Shoreham-by-Sea

West Sussex

BN43 5DH





 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
 

CONTENTS



Page
Directors' Report
1
Accountants' Report
2
Income Statement
3
Statement of Financial Position
4 - 5


 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Principal activity

The principal activity of the company is to act as the service manager of the flats known as 12-14 Cleveland Square, London on a non profit basis. The whole of the service and management expenses are recoverable from the lessees in accordance with the terms of their respective leases.

Review of activity

On 20 December 2016, the company acquired the freehold property known as 12-14 Cleveland Square, London, W2. The acquisition was funded by contributions form the participant leaseholders/shareholders. At the same time the company granted lease extensions to the participant leaseholders and their ground rent is now a peppercorn. As a result of the lease extensions, the value of the freehold has been reduced to £68,589 being the freehold value attributed to storage, caretaker space, and non-participants share of the property. 
The company acts as a trustee in respect of service charge monies collected in connection with the above
property. In accordance with recommendations from ARMA (Association of Residential Managing Agents), the
service charge monies are excluded from the accounts as the company acts only in a trustee capacity in this
connection. Separate service charge accounts are prepared and certified.
 

Directors

The directors who served during the year were:

L Benzoni 
C D Clark 
P J Hawkins 
S F Jamil 
M Lupi 
M D S O'Broin 
M Tollgard (resigned 8 March 2024)
A K Chainwala 
A M Hadjipateras 
M Tazi 
A G R Zegarra 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 


................................................
L Benzoni
Director
Date: 30 September 2024

Page 1

 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 12-14 CLEVELAND SQUARE FREEHOLD LIMITED
FOR THE 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 12-14 Cleveland Square Freehold Limited for the year ended 31 March 2024 which comprise the Income Statement, the Statement of Financial Position and the 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 https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of 12-14 Cleveland Square Freehold Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of 12-14 Cleveland Square Freehold Limited and state those matters that we have agreed to state to the Board of Directors of 12-14 Cleveland Square Freehold Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 12-14 Cleveland Square Freehold Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that 12-14 Cleveland Square Freehold Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 12-14 Cleveland Square Freehold Limited. You consider that 12-14 Cleveland Square Freehold Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of 12-14 Cleveland Square Freehold Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Gibson Appleby Chartered Accountants
 
1-3 Ship Street
Shoreham-by-Sea
West Sussex
BN43 5DH
1 October 2024
Page 2

 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
 
 
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
£
£

Turnover
  
6,436
4,486

Other charges
  
(4,736)
(2,174)

Tax
  
(323)
(439)

Profit
  
1,377
1,873

Page 3

 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
REGISTERED NUMBER: 10377085

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£


Fixed assets
68,588
68,588

Current assets
23,275
18,545

Creditors: amounts falling due within one year
(11,626)
(8,273)

Net current assets
 
 
11,649
 
 
10,272

Total assets less current liabilities
80,237
78,860

Creditors: amounts falling due after more than one year
(68,588)
(68,588)


Net assets
11,649
10,272



Capital and reserves
11,649
10,272


Page 4

 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
REGISTERED NUMBER: 10377085
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

Notes


General information

12-14 Cleveland Square Freehold Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 10 St. Bride Street, London, EC4A 4AD. 


Average number of employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


Directors' confirmations

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
L Benzoni
Director
Date: 30 September 2024

Page 5

 
12-14 CLEVELAND SQUARE FREEHOLD LIMITED
REGISTERED NUMBER: 10377085

1.


Debtors

2024
2023
£
£


Trade debtors
5,490
3,995

Other debtors
11
11

5,501
4,006



2.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
17,774
14,539



3.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amount due to Service Charge Fund
6,869
1,694

Corporation tax
456
572

Other creditors
2,430
4,136

Accruals and deferred income
1,871
1,871

11,626
8,273


 
Page 6