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Company registration number: 14282814
Plender Street Management Company Limited
Unaudited filleted financial statements
31 August 2024
Plender Street Management Company Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Plender Street Management Company Limited
Directors and other information
Directors Ms Rose Cobbe
Mr Christopher Artingstall
Company number 14282814
Registered office 73 Plender Street
London
NW1 0LB
Business address 73 Plender Street
London
NW1 0LB
Accountants Hill Allen (Wickford) Limited
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Barclays Bank plc
25 Gresham Street
London
EC2V 7HN
Plender Street Management Company Limited
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 47,223 47,223
_______ _______
47,223 47,223
Current assets
Debtors 5 435 1,196
Cash at bank and in hand - 474
_______ _______
435 1,670
Creditors: amounts falling due
within one year 6 - ( 1,050)
_______ _______
Net current assets 435 620
_______ _______
Total assets less current liabilities 47,658 47,843
Creditors: amounts falling due
after more than one year 7 ( 48,000) ( 48,000)
_______ _______
Net liabilities ( 342) ( 157)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 343) ( 158)
_______ _______
Shareholders deficit ( 342) ( 157)
_______ _______
For the year ending 31 August 2024 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 September 2024 , and are signed on behalf of the board by:
Mr Christopher Artingstall
Director
Company registration number: 14282814
Plender Street Management Company Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 73 Plender Street, London, NW1 0LB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
The company owns and manages a residential proprty on behalf of the long leaseholders. Income is generated on a non profit basis to enable it to meet the day to day running costs of the property and to provide for future maintenance costs.
Taxation
The company operates on a not for profit basis. No provision for tax is made on surpluses generated in advance of expenditure.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - The company owns the freehold reversionary interest of a property on which no depreciation is provid
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Tangible assets
Freehold property Total
£ £
Cost
At 1 September 2023 and 31 August 2024 47,223 47,223
_______ _______
Depreciation
At 1 September 2023 and 31 August 2024 - -
_______ _______
Carrying amount
At 31 August 2024 47,223 47,223
_______ _______
At 31 August 2023 47,223 47,223
_______ _______
5. Debtors
2024 2023
£ £
Other debtors 435 1,196
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors - 1,050
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 48,000 48,000
_______ _______
The company raised finance from the long term leaseholders of the flats within the freehold property so as to acquire that property. There is no expectation that these funds will be repaid.
8. Controlling party
There is no overall controlling party.