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Company No: 12371944 (England and Wales)

23 BOSCOMBE OVERCLIFF DRIVE FLAT MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

23 BOSCOMBE OVERCLIFF DRIVE FLAT MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

23 BOSCOMBE OVERCLIFF DRIVE FLAT MANAGEMENT LIMITED

BALANCE SHEET

As at 31 December 2023
23 BOSCOMBE OVERCLIFF DRIVE FLAT MANAGEMENT LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 30,308 30,308
30,308 30,308
Current assets
Debtors 4 1,053 981
Cash at bank and in hand 3,059 184
4,112 1,165
Creditors: amounts falling due within one year 5 ( 53,402) ( 42,943)
Net current liabilities (49,290) (41,778)
Total assets less current liabilities (18,982) (11,470)
Net liabilities ( 18,982) ( 11,470)
Capital and reserves
Called-up share capital 6 100 3
Profit and loss account ( 19,082 ) ( 11,473 )
Total shareholder's deficit ( 18,982) ( 11,470)

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.

Director's responsibilities:

The financial statements of 23 Boscombe Overcliff Drive Flat Management Limited (registered number: 12371944) were approved and authorised for issue by the Director on 03 December 2024. They were signed on its behalf by:

Dr J R Hickey
Director
23 BOSCOMBE OVERCLIFF DRIVE FLAT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
23 BOSCOMBE OVERCLIFF DRIVE FLAT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

23 Boscombe Overcliff Drive Flat Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:-

Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £18,982 (2022: £11,470). The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated gross of VAT and is comprised of ground rent that is recognised for the year it relates to.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on basis over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 January 2023 30,308 30,308
At 31 December 2023 30,308 30,308
Accumulated depreciation
At 01 January 2023 0 0
At 31 December 2023 0 0
Net book value
At 31 December 2023 30,308 30,308
At 31 December 2022 30,308 30,308

4. Debtors

2023 2022
£ £
Prepayments 953 931
Other debtors 100 50
1,053 981

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 42,065 35,746
Accruals 11,337 7,197
53,402 42,943

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2022: 3 shares of £ 1.00 each) 100 3

During the year, 97 ordinary shares of £1 each were allotted for consideration of £1 per share. These share are entitled to vote in any circumstance, and have a right to dividends. Each share is entitled pari passu to participate in a distribution arising from a winding up or sale of the company.