Company Registration No. 09940640 (England and Wales)
MILLENNIUM WHARF FREEHOLDERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTS FOR FILING WITH REGISTRAR
MILLENNIUM WHARF FREEHOLDERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MILLENNIUM WHARF FREEHOLDERS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
195,391
195,391
Current assets
Cash at bank and in hand
4,586
5,289
Creditors: amounts falling due within one year
4
(183,775)
(184,036)
Net current liabilities
(179,189)
(178,747)
Net assets
16,202
16,644
Capital and reserves
Called up share capital
5
35
35
Share premium account
43,899
43,899
Profit and loss reserves
(27,732)
(27,290)
Total equity
16,202
16,644
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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 21 June 2025 and are signed on its behalf by:
S L'Estrange
Director
Company registration number 09940640 (England and Wales)
MILLENNIUM WHARF FREEHOLDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Millennium Wharf Freeholders Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Sears Morgan Property Management Ltd, Suite A5 Kebbell House, Delta Gain, Watford, Herts, WD19 5EF.
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
The company receives ground rents from the lessees which did not participate in the purchase of the freehold.
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
Nil
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
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.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and other loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
MILLENNIUM WHARF FREEHOLDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024 and 31 December 2024
195,391
Depreciation and impairment
At 1 January 2024 and 31 December 2024
Carrying amount
At 31 December 2024
195,391
At 31 December 2023
195,391
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
183,775
184,036
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
35
35
35
35