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REGISTERED NUMBER: 02160526 (England and Wales)










REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

5 MARYLEBONE STREET LIMITED

5 MARYLEBONE STREET LIMITED (REGISTERED NUMBER: 02160526)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


5 MARYLEBONE STREET LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J A Barrett
M Barrett





REGISTERED OFFICE: 5 Marylebone Street
London
W1G 8JD





REGISTERED NUMBER: 02160526 (England and Wales)





ACCOUNTANTS: Websters
12 Melcombe Place
London
NW1 6JJ

5 MARYLEBONE STREET LIMITED (REGISTERED NUMBER: 02160526)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The company owns the head lease of 5 Marylebone Street, London W1 8JD. Its sole activity is the management of the property on behalf of the tenants, who are shareholders of the company. Howard De Walden Estates Limited own the reversionary freehold interest.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

J A Barrett
M Barrett

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M Barrett - Director


21 March 2025

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
5 MARYLEBONE STREET LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 5 Marylebone Street Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of 5 Marylebone Street Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 5 Marylebone Street Limited and state those matters that we have agreed to state to the Board of Directors of 5 Marylebone Street Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 5 Marylebone Street Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that 5 Marylebone Street Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 5 Marylebone Street Limited. You consider that 5 Marylebone Street Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 5 Marylebone Street Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Websters
12 Melcombe Place
London
NW1 6JJ


24 March 2025

5 MARYLEBONE STREET LIMITED (REGISTERED NUMBER: 02160526)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 23,702 34,966

Service charge expenditure (12,369 ) (22,688 )
Administrative expenses (11,346 ) (12,291 )
(13 ) (13 )

Other operating income 13 13
OPERATING PROFIT and
PROFIT BEFORE TAXATION - -

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR - -

5 MARYLEBONE STREET LIMITED (REGISTERED NUMBER: 02160526)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 6 14,111 23,693

CREDITORS
Amounts falling due within one year 7 (14,111 ) (23,693 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

-

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings (12 ) (12 )
SHAREHOLDERS' FUNDS - -

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

The financial statements have been prepared 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 21 March 2025 and were signed on its behalf by:





M Barrett - Director


5 MARYLEBONE STREET LIMITED (REGISTERED NUMBER: 02160526)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

5 Marylebone Street 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 comprises contributions from shareholders to fund the ground rent and service charges receivable from the tenants.

Recognition of income
Service charges receivable are recognised as income in the financial statements concurrently with the recognition of the service charge expenditure that is being funded.

3. EMPLOYEES AND DIRECTORS

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

4. OPERATING PROFIT

The directors received no remuneration in respect of their services to the company for the period.

5. CASH AT BANK

Service charge monies contributed by owners and occupiers are held in trust in designated bank accounts in the name of the company. Because such balances are held in trust, rather than belonging to the company, they are not recognised on the company's balance sheet, following the principles set out in draft FRC Abstract 1 (Residential Management Companies' Financial Statements). At the balance sheet date the company held funds of £23,571 (2023: £13,808) in trust.

5 MARYLEBONE STREET LIMITED (REGISTERED NUMBER: 02160526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors comprise :

31.3.24 31.3.23
£ £
Trade debtors2,833 -
Prepayments11,278 16,392
Amount due from service charge trust- 7,301
------------------------
14,111 23,693
====== ======













7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors comprise :

31.3.24 31.3.23
£ £
Accruals10,193 23,693
Amount due to service charge trust3,918 -
------------------------
14,111 23,693
====== ======


The 'Amount due to service charge trust' comes about as a result of following the principles set out in draft FRC Abstract 1 (Residential Management Companies' Financial Statements). The effect of this is that service charge assets and liabilities which are held in trust are not separately recognized in the balance sheet of the management company, but aggregated as a balance due from/(to) the service charge trust. The figure included in 'Other creditors' is, therefore, the aggregate of :

31.3.24
£
Service charge current bank account6,600
Service charge deposit bank account16,971
Tenants' arrears re service charge6,727
Refund due for over reimbursed expenses 92
Stock of keys88
Trust tax creditor(17 )
Reserve fund(34,379 )
------------
(3,918 )
======

8. RELATED PARTIES

Cleaning services, for a total cost of £1,590 (2023 - £1,560) were provided by the daughters of J.A.Barrett and Mrs.M.Barrett, the directors of 5 Marylebone Street Limited.