| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2024 |
| FOR |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2024 |
| FOR |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04665667) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| First Floor, Jebsen House |
| 53-61 High Street |
| Ruislip |
| Middlesex |
| HA4 7BD |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04665667) |
| BALANCE SHEET |
| 31ST MAY 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04665667) |
| BALANCE SHEET - continued |
| 31ST MAY 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04665667) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2024 |
| 1. | STATUTORY INFORMATION |
| Twenty New Globe Walk Management Company Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company meets its day to day working capital requirements through the support of its shareholders. The directors have confirmed that this support will continue to be made available for the foreseeable future. |
| Turnover |
| Turnover represents ground rents and storeroom rent receivable. |
| Tangible fixed assets |
| Land and buildings are shown at cost less any accumulated depreciation and any accumlated 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 |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04665667) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST |
| At 1st June 2023 |
| and 31st May 2024 |
| NET BOOK VALUE |
| At 31st May 2024 |
| At 31st May 2023 |
| The freehold title is subject to long leases granted to individual flat owners in the property. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation |
| Other creditors |
| Due to lessees | 34,473 | 4,187 |
| Due to 20 New Globe Walk |
| Service Charge Fund | 3,458 | 11,615 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Loan capital and interest due |
| to shareholders |
| TWENTY NEW GLOBE WALK |
| MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04665667) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| The capital provided by the shareholders to purchase the freehold of Twenty New Globe Walk included loan notes and loan capital. |
| The loan notes have been repaid in full. The loan capital is not interest bearing and can be repaid at the direction of the directors and hence is shown due in greater than one year. |
| The provision for interest (which relates to the interest bearing loan notes) included in the total balance is £25,795 (2023 - £25,795). |