Company registration number 02241734 (England and Wales)
24 BRUNSWICK TERRACE, HOVE, (RESIDENTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
24 BRUNSWICK TERRACE, HOVE, (RESIDENTS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
24 BRUNSWICK TERRACE, HOVE, (RESIDENTS) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,776
2,776
Current assets
Debtors
4
2,825
3,659
Cash at bank and in hand
9,873
5,774
12,698
9,433
Creditors: amounts falling due within one year
5
(10,980)
(7,715)
Net current assets
1,718
1,718
Total assets less current liabilities
4,494
4,494
Creditors: amounts falling due after more than one year
6
(3,493)
(3,493)
Net assets
1,001
1,001
Capital and reserves
Called up share capital
7
7
Profit and loss reserves
994
994
Total equity
1,001
1,001

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 26 May 2025 and are signed on its behalf by:
R A L McCall
Director
Company registration number 02241734 (England and Wales)
24 BRUNSWICK TERRACE, HOVE, (RESIDENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

24 Brunswick Terrace, Hove, (Residents) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, Park Gate, 161-163 Preston Road, Brighton, East Sussex, BN1 6AF.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents fees receivable from the Lessees of 24 Brunswick Terrace during the year, in order to meet the relevant costs in relation to the property in accordance with the provisions of Section 42 of the Landlord and Tenant Act 1987.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
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.

1.6
Financial instruments

The company has the following financial instruments:

24 BRUNSWICK TERRACE, HOVE, (RESIDENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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.

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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
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
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
24 BRUNSWICK TERRACE, HOVE, (RESIDENTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2023 and 30 September 2024
2,776
Depreciation and impairment
At 1 October 2023 and 30 September 2024
-
0
Carrying amount
At 30 September 2024
2,776
At 30 September 2023
2,776

The company owns the freehold interest and manages the property 24 Brunswick Terrace, Hove. All 7 of the lessees of the property are also the company's shareholders and 4 are also the company's directors. The lessees are responsible for the cost of maintaining the property such that the residual value of the freehold interest continues to be not less than the original cost of £2,776. On this basis, no depreciation is required to be provided.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,825
3,659
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,902
-
0
Other creditors
7,078
7,715
10,980
7,715
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,493
3,493
7
Financial commitments, guarantees and contingent liabilities

The company contracts with third parties in its name for the supply to the property for maintenance of the common parts in accordance with the terms of the leases. At 30 September 2024, the company had not entered into any non-cancellable contractual commitments (2023 - £Nil).

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