44/45 Cleveland Square Limited |
Registered number: |
02425484 |
Balance Sheet |
as at 31 March 2024 |
|
|
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
350 |
|
|
350 |
|
|
|
|
|
|
|
|
Current assets |
Debtors |
4 |
|
|
10,780 |
|
|
8,484 |
Cash at bank and in hand |
|
|
|
25,106 |
|
|
29,895 |
|
|
|
|
35,886 |
|
|
38,379 |
|
Creditors: amounts falling due within one year |
5 |
|
|
(25,581) |
|
|
(23,875) |
|
Net current assets |
|
|
|
10,305 |
|
|
14,504 |
|
|
|
|
|
|
|
|
|
Total assets less current liabilities |
|
|
|
10,655 |
|
|
14,854 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(8,272) |
|
|
(12,541) |
|
|
|
Net assets |
|
|
|
2,383 |
|
|
2,313 |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
7 |
|
|
7 |
Profit and loss account |
|
|
|
2,376 |
|
|
2,306 |
|
Shareholders' funds |
|
|
|
2,383 |
|
|
2,313 |
|
|
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
|
|
S Coles |
Director |
Approved by the board on 28 September 2024 |
|
44/45 Cleveland Square Limited |
Notes to the Accounts |
for the year ended 31 March 2024 |
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|
1 |
Accounting policies |
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|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Ownership of assets and transactions |
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The company owns the freehold reversionary interest in land and buildings at 44-45 Cleveland Square, London, and manages the property on behalf of the leaseholders on a non-profit basis. The lessees are the shareholders of the company. Although the company is owned entirely by the lessees of the property, currently it is generally considered that the collection of service charges (but not ground rent), service charge expenses, the attributable cash at bank, receivables and payables, including maintenance reserve fund and current and future financial commitments legally belong to the lessees not the company and the company only acts as an agent for the lessees. To reflect this the service charges and expenses have been matched out in the profit and loss account. Assets, mainly bank balances, and liabilities shown in the balance sheet belong to the lessees and also match out leaving the company with beneficial ownership of £2,383 (2023: £2,313) relating to its issued share capital and accumulated ground rent income. Whilst the assets and laibilities for the most part net off they have been shown seperately to help reflect the substance of the position between the company and lessees. |
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|
Maintenance reserve fund |
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The accumulated net services charges, after deducting attributable service charge expenses, is represented by bank balances, debtors less creditors and makes up the amount in the maintenace reserve fund, which is available to cover likely future repair and maintenace costs of the property. |
|
|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. |
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The company is the owner of the freehold reversionary interest in the land and buildings at 44-45 Cleveland Square, London. No depreciation is charged on freehold land and buildings on the grounds that it would be immaterial. |
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|
Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
|
As agreed by the Tax Authorities the company does not pay tax on its income. |
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|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Freehold Land and buildings |
£ |
|
Cost |
|
At 1 April 2023 |
350 |
|
At 31 March 2024 |
350 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
350 |
|
At 31 March 2023 |
350 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Amounts due from lessees |
|
|
|
|
858 |
|
- |
|
Other debtors |
9,922 |
|
8,484 |
|
|
|
|
|
|
10,780 |
|
8,484 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Amounts due to lessees |
22,253 |
|
15,460 |
|
Other creditors |
3,328 |
|
8,415 |
|
|
|
|
|
|
25,581 |
|
23,875 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Maintenance reserve fund |
|
|
|
|
8,272 |
|
12,541 |
|
|
|
|
|
|
|
|
|
|
7 |
Other information |
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44/45 Cleveland Square Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
c/o Thornhill Scott Ltd |
|
65 High Street |
|
Harpenden |
|
AL5 2QE |