Holyoake Court Limited |
Balance Sheet for the Limited Company |
for the year ended 24 March 2024 |
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Balance Sheet at 24 March 2024 |
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Notes |
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2024 |
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|
2023 |
£ |
£ |
|
Tangible assets |
3 |
|
13,589 |
|
|
13,589 |
Debtors |
4 |
|
150 |
|
|
75 |
Cash at bank and in hand |
5 |
|
927 |
|
|
925 |
|
Creditors: amounts falling due after more than one year |
6 |
|
(13,583) |
|
|
(13,583) |
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Net assets |
1,083 |
|
|
1,006 |
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|
|
|
|
|
|
Capital and reserves |
Allotted, called up and fully paid share capital |
6 |
|
|
6 |
Profit and Loss Account |
1,077 |
|
|
1,000 |
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Shareholders' funds |
1,083 |
|
|
1,006 |
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|
|
|
|
|
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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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Mr A N Gough |
Director |
Approved by the board on 26 November 2024 |
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Holyoake Court Limited |
Notes to the Limited Company Accounts |
for the year ended 24 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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Turnover |
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The Company only has ground rent income in its own right. All other transactions in the year relate to maintenance of the common parts in accordance with the lease. Income and expenditure arising from these transactions is shown in separate service charge accounts for Flats 8A - 8F Holyoake Court that do not form part of the annual accounts of the Company and are not filed at Companies House. All service charge monies received from the residents of Flats 8A - 8F, Holyoake Court, London, are held on trust for the residents. |
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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, as follows: |
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Freehold of the building |
over 0 years |
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The residual value of the Freehold of the building is deemed to be equal to, or exceeds, its current carrying value, and therefore the depreciation for the year was £Nil |
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In accordance with FRS102 the freehold of the building has been treated as property plant and equipment. |
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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 |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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|
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2 |
Corporation Tax |
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There is no Corporation Tax payable based on the result for the year (2023: No Corporation Tax payable) |
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3 |
Tangible fixed assets |
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Freehold of the building |
£ |
|
Cost |
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At 25 March 2023 |
13,589 |
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Additions |
- |
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Surplus on revaluation |
- |
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Disposals |
- |
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At 24 March 2024 |
13,589 |
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Depreciation |
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At 24 March 2024 |
- |
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Net book value |
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At 24 March 2024 |
13,589 |
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At 24 March 2023 |
13,589 |
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Freehold land and buildings: |
2024 |
|
2023 |
£ |
£ |
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Historical cost |
13,589 |
|
13,589 |
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Cumulative depreciation based on historical cost |
- |
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- |
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13,589 |
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13,589 |
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4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
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Ground Rent Debtor |
150 |
|
75 |
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|
150 |
|
75 |
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5 |
Cash at bank and in hand |
2024 |
|
2023 |
£ |
£ |
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Ground Rents Bank Account |
227 |
|
225 |
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Limited Company funds held in Service Charge Bank Account |
700 |
|
700 |
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|
|
|
|
927 |
|
925 |
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In prior years the Limited Company did not have a separate bank account to hold funds belonging to Holyoake Court Limited, instead these monies were combined with the service charge trust bank balance. During the year ending 24th March 2021 a new bank account was opened and ground rents from 2021/22 are now held within this account. Prior year ground rents are still held within the service charge trust bank balance. |
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6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
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Freehold Purchase liability |
13,583 |
|
13,583 |
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13,583 |
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13,583 |
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7 |
Tech 03/11 |
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In accordance with Tech 03/11, guidance issued by the Institute of Chartered Accountants in England and Wales, the net service charge assets and reserves which are held under trust on behalf of the tenants are shown in a separate service charge accounts balance sheet. Thus the assets owned by the company are distinguished from those held on trust for the tenants. |
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8 |
Service Charge Reserves held on trust |
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The service charge reserves held on trust for tenants and thus no longer included within Holyoake Court Limited balance sheet total £23,406. |
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9 |
Freehold Purchase Liability |
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The freehold purchase liability of £13,583.00 represents amounts the company has borrowed indefinitely from four flat owners relating to the freehold purchase. The flat owners are Mr A N Gough, Ms V Harvey, Mr J Brown and Mr J Talu. |
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10 |
Other information |
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Holyoake Court Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
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8a Holyoake Court |
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Bryan Road |
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London |
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SE16 5HJ |