Company registration number 07823878 (England and Wales)
62 HORNTON STREET LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
62 HORNTON STREET LIMITED
COMPANY INFORMATION
Directors
Mr NB Beckwith
Ms J Burleigh
Company number
07823878
Registered office
355c Archway Road
Highgate
London
N6 4EJ
Accountants
Evans Mockler Limited
5 Beauchamp Court
Victors Way
Barnet
London
EN5 5TZ
62 HORNTON STREET LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
62 HORNTON STREET LIMITED
BALANCE SHEET
AS AT
30 OCTOBER 2023
30 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
6
25,583
23,407
Creditors: amounts falling due within one year
7
(989)
(1,122)
Net current assets
24,594
22,285
Capital and reserves
Called up share capital
5
5
Sinking fund reserves
13,690
13,690
Income and expenditure reserve
10,899
8,590
Total equity
24,594
22,285

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
Mr NB Beckwith
Director
Company Registration No. 07823878
62 HORNTON STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

62 Hornton Street Limited is a private company limited by shares incorporated in England and Wales. The registered office is 355c Archway Road, Highgate, London, N6 4EJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Income represents service charge receivable from the leaseholders

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

62 HORNTON STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

62 HORNTON STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2023
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Interest receivable and similar income
2023
2022
£
£
Interest receivable and similar income includes the following:
99
2
Service charge monies are held on trust in accordance with section 42, Landlord and Tenant Act 1987.  Interest earned on service charge monies held on deposit is taxable at the basic rate of income tax.  The rate of tax applied to interest received during the year was 20%.
5
Taxation
The company is a residential service management company. On the basis of these financial statements no provision has been made for corporation tax.
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,005
-
0
Other debtors
23,670
22,499
Prepayments and accrued income
908
908
25,583
23,407

Service charge money was held in trust at Barclays Bank Plc under the title Langford Chase Estate Agents Limited Client Accounts Re Hornton Street account number 83915794 and Langford Chase Estate Agents Limited Client Accounts Re Hornton Street Sink fund account number 93804798 , in accordance with section 42 of the Landlords and Tenants act 1987.

7
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals
989
1,122
2023-10-302022-10-31falseCCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr NB BeckwithMs J Burleighfalsefalse078238782022-10-312023-10-3007823878bus:Director12022-10-312023-10-3007823878bus:Director22022-10-312023-10-3007823878bus:RegisteredOffice2022-10-312023-10-30078238782023-10-30078238782022-10-3007823878core:CurrentFinancialInstruments2023-10-3007823878core:CurrentFinancialInstruments2022-10-3007823878core:ShareCapital2023-10-3007823878core:ShareCapital2022-10-3007823878core:OtherMiscellaneousReserve2023-10-3007823878core:OtherMiscellaneousReserve2022-10-3007823878core:RetainedEarningsAccumulatedLosses2023-10-3007823878core:RetainedEarningsAccumulatedLosses2022-10-30078238782021-10-312022-10-3007823878bus:PrivateLimitedCompanyLtd2022-10-312023-10-3007823878bus:SmallCompaniesRegimeForAccounts2022-10-312023-10-3007823878bus:FRS1022022-10-312023-10-3007823878bus:AuditExempt-NoAccountantsReport2022-10-312023-10-3007823878bus:FullAccounts2022-10-312023-10-30xbrli:purexbrli:sharesiso4217:GBP