REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 JUNE 2024 |
FOR |
COURTFIELD RESIDENTS (EALING) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 JUNE 2024 |
FOR |
COURTFIELD RESIDENTS (EALING) LIMITED |
COURTFIELD RESIDENTS (EALING) LIMITED (REGISTERED NUMBER: 01690699) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 JUNE 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
COURTFIELD RESIDENTS (EALING) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 24 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
COURTFIELD RESIDENTS (EALING) LIMITED (REGISTERED NUMBER: 01690699) |
STATEMENT OF FINANCIAL POSITION |
24 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
COURTFIELD RESIDENTS (EALING) LIMITED (REGISTERED NUMBER: 01690699) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24 JUNE 2024 |
1. | STATUTORY INFORMATION |
Courtfield Residents (Ealing) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Freehold interest |
On 11 July 1997, the Company acquired the freehold of 23-25 Courtfield Gardens. The cost, including professional fees, was £15,014. During 2007, the Company began extending the leases, by deed of variation, to 999 years with no ground rent accruing. In view of this, the directors considered that the freehold reversion had minimal value and therefore wrote it down to £nil in 2007/8. |
As at 24 June 2023 the directors consider that the Freehold reversion interest is £Nil (2023: £Nil). |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
COURTFIELD RESIDENTS (EALING) LIMITED (REGISTERED NUMBER: 01690699) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 24 JUNE 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Payments on account |
Other creditors |
Sinking fund | 56,431 | 32,486 |
Accrued expenses |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £50 | 15,600 | 15,600 |
Founder shares | £0.20 | 1 | 1 |
15,601 | 15,601 |
7. | RESERVES |
Retained |
earnings |
£ |
At 25 June 2023 |
Profit for the year |
At 24 June 2024 |
8. | OTHER FINANCIAL COMMITMENTS |
The Company has a commitment to redecorate the exterior and interior of the block every third and fifth year respectively. |
9. | RELATED PARTY DISCLOSURES |
Remuneration to directors totalled £275 (2023: £180) for administration and maintenance work in the year.There were no other transactions with related parties. |
COURTFIELD RESIDENTS (EALING) LIMITED (REGISTERED NUMBER: 01690699) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 24 JUNE 2024 |
10. | SINKING FUND |
A sinking fund has been set up to meet the cost of future major expenditures. The movement on the fund during the year was as follows: |
2024 | 2023 |
£ | £ |
Balance at beginning of year | 32,487 | 56,042 |
Transfer in during year | 29,317 | 15,475 |
Transfer out during the year | (6,168 | ) | (39,030 | ) |
--------------- | --------------- |
55,636 | 32,487 |
========= | ======== |
11. | LEGAL COSTS - LEASE RENEWALS ACCOUNTING TREATMENT |
To cover the legal costs borne by the Company on the individual lease renewals, it was agreed at the 2008 AGM to apply £9,165 of the maintenance payments contributed by the flat owners in 2007/8 to a reserve fund (lease renewal fund). As the leases are renewed, funds are released from the lease renewals fund. In this way, all lessees contribute towards this fund. During the year there were no lease renewals. The balance on this account of £1,536 (2023 - £1,536) represents the legal costs for the remaining 4 flats awaiting renewal. |