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REGISTERED NUMBER: 06475392 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24TH MARCH 2024

FOR

KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED

KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED (REGISTERED NUMBER: 06475392)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24TH MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 24TH MARCH 2024







DIRECTORS: A Kondratovs
I Tsatalmpasidis
A J Thorpe
G Kalamakis
E Karampa
C Clarke


REGISTERED OFFICE: Concierge Office
King & Queen Wharf
Rotherhithe Street
London
SE16 5QY


REGISTERED NUMBER: 06475392 (England and Wales)


ACCOUNTANTS: Sproull & Co.
Chartered Accountants
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD


MANAGING AGENTS: Rendall and Rittner Limited
13b St.George Wharf
London
SW8 2LE

KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED (REGISTERED NUMBER: 06475392)

BALANCE SHEET
24TH MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 836,714 836,714

CURRENT ASSETS
Debtors 5 11,169 5,368
Cash at bank 2,918 14,430
14,087 19,798
CREDITORS
Amounts falling due within one year 6 89,466 91,688
NET CURRENT LIABILITIES (75,379 ) (71,890 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

761,335

764,824

CREDITORS
Amounts falling due after more than one year 7 638,720 638,720
NET ASSETS 122,615 126,104

CAPITAL AND RESERVES
Called up share capital 8 1,290 1,290
Share premium 9 115,352 115,352
Retained earnings 9 5,973 9,462
SHAREHOLDERS' FUNDS 122,615 126,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24th March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 24th March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED (REGISTERED NUMBER: 06475392)

BALANCE SHEET - continued
24TH MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd December 2024 and were signed on its behalf by:





A Kondratovs - Director


KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED (REGISTERED NUMBER: 06475392)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24TH MARCH 2024


1. STATUTORY INFORMATION

King & Queen Wharf Freehold Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents ground rents and insurance commission refunds receivable.

Tangible fixed assets
Land and buildings are shown at cost less any accumulated depreciation and any accumulated impairment losses.

Land and buildings are depreciated over their estimated useful economic life after taking the residual value of the assets into consideration. The directors consider the residual value of the company's land and buildings to be in excess of the original cost and consequently no depreciation is provided.

The residual value of the company's assets and whether the value has been impaired are considered by the directors on an annual basis.

Taxation
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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 25th March 2023
and 24th March 2024 836,714
NET BOOK VALUE
At 24th March 2024 836,714
At 24th March 2023 836,714

KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED (REGISTERED NUMBER: 06475392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24TH MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

The company was set up to acquire the freehold property and other assets at King & Queen Wharf, the purchase of which took place in February 2010.

The total cost of acquisition included the cost of the King & Queen Wharf freehold, the cost of the 999 year leasehold interest in the Globe Wharf car park, and the net legal and professional costs.

Following the acquisition of the freehold title, extended leases have been granted to 129 (2023 - 129) member participants.

Following the acquisition, the company would initially receive annual ground rents of £26,500 per annum. The ground rent of non-participants doubled from 2014 in accordance with their leases. The ground rent of participants is reviewed annually and was reduced from March 2014 onwards.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Due from lessees 2,827 1,525
Other debtors 4,518 18
Prepayments and accrued income 3,824 3,825
11,169 5,368

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other taxation and social security 1,640 1,817
Lessee payments in advance 3,641 2,569
Other creditors 10,000 10,000
Loan from King & Queen Wharf
Residents Company Limited 62,600 62,600
Due to King & Queen Wharf
Residents Company Limited 7,805 10,596
Accruals and deferred income 3,780 4,106
89,466 91,688

The loan from King & Queen Wharf Residents Company Limited is repayable on six months notice, and interest is payable thereon at 4% over bank base rate.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Loans received from participants for
acquisition of the freehold

638,720

638,720

KING & QUEEN WHARF FREEHOLD COMPANY
LIMITED (REGISTERED NUMBER: 06475392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 24TH MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The loans received from participants are the net monies contributed towards the acquisition of the freehold and other assets, and are interest free, and are unlikely to be repaid in the foreseeable future.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
129 Ordinary £10 1,290 1,290

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 25th March 2023 9,462 115,352 124,814
Deficit for the year (3,489 ) - (3,489 )
At 24th March 2024 5,973 115,352 121,325