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REGISTERED NUMBER: 00790234 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

59 HOLLAND PARK MANAGERS LIMITED

59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


59 HOLLAND PARK MANAGERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: T Kerno
I J Kerno
O Majidpour
P C Michael
P Steggall





SECRETARY: JMW Barnard Management Limited





REGISTERED OFFICE: JMW Barnard Management Limited
17 Abingdon Road
London
W8 6AH





REGISTERED NUMBER: 00790234 (England and Wales)





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

59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 4 21,920 8,604
Cash at bank 5 62,762 211,741
84,682 220,345
CREDITORS
Amounts falling due within one year 6 15,329 23,975
NET CURRENT ASSETS 69,353 196,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,353

196,370

CAPITAL AND RESERVES
Called up share capital 125 125
Other reserve - Flat A 7 29,570 33,359
Projects reserve 7 (9,376 ) 119,653
Retained earnings 7 49,034 43,233
SHAREHOLDERS' FUNDS 69,353 196,370

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 Income and Expenditure Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th February 2025 and were signed on its behalf by:





P C Michael - Director


59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

59 Holland Park Managers 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.

Departures from Companies Act requirements
The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income and cost of sales has been replaced by service charge expenditure. This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activities. The result for the year is unaffected by the accounting treatment adopted.

Income
Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987.

Service charge income represents variable service charges receivable from the members for the year.

Flat A income represents rental income receivable in respect of Flat A, a property at 59 Holland Park owned by the company.

Taxation
The company acts as a trustee in respect of funds held to manage 59 Holland Park. In consequence service charge contributions and service charge expenditure items are neither taxable nor allowable for corporation tax purposes.

Service charge monies are held on trust in accordance with Section 42 of the Landlord and Tenant Act 1987. Interest earned on service charge monies held on deposit is now received gross. As the interest falls below HMRC's informal relaxation threshold for trusts that only receive interest, no trust tax return will need to be filed, or tax paid on interest, until such time interest exceeds such threshold, or HMRC notifies otherwise.

Corporation tax is provided in respect of net rental income from Flat A and 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 6 (2022 - 5 ) .

59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Service charge arrears 14,855 2,698
Other receivables 1,088 1,088
Prepayments 5,977 4,818
21,920 8,604

Debtors can be further analysed between company and service charge assets as follows:

20232022
££
Service charge debtors
Service charge arrears14,8552,698
Other receivables1,0381,038
Prepayments4,7433,603
20,6367,339
Company debtors
Other receivables5050
Prepayments1,2341,215
1,2841,265

5. CASH AT BANK

The bank balances held represent both company and service charge trust monies, as follows:
2023 2022
£ £
Service charge trust money 24,466 155,587
Company money 38,296 56,154
62,762 211,741

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 185 1,836
Taxation - 2,577
Social security and other taxes 159 -
Other creditors 9,460 14,460
Accruals 3,900 3,477
Deferred income - Flat A 1,625 1,625
15,329 23,975

59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Creditors can be further analysed between company and service charge liabilities as follows:

20232022
££
Service charge creditors
Trade creditors1851,836
Social security and other taxes159-
Other creditors9,46014,460
Accruals3,0302,715
12,83419,011
Company creditors
Taxation-2,577
Accruals870762
Deferred income1,6251,625
2,4954,964

7. RESERVES
Other
Retained reserve - Projects
earnings Flat A reserve Totals
£ £ £ £

At 1st January 2023 43,233 33,359 119,653 196,245
Profit for the year 12,012 - - 12,012
Reserve expenditure - - (139,029 ) (139,029 )
Transfer to Projects reserve (10,000 ) - 10,000 -
Transfer Flat A deficit 3,789 (3,789 ) - -
At 31st December 2023 49,034 29,570 (9,376 ) 69,228

Details of Projects Reserve expenditure:

£   
External repair and redecoration135,274
Professional fees19,003
Contribution towards costs from Flat A(15,248)
139,029

59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michelle Wickwar (Senior Statutory Auditor)
for and on behalf of Sproull & Co.