| Chartwell House (Kensington) Limited |
| Notes to the Accounts |
| for the period from 14 December 2023 to 31 December 2024 |
|
| 1 |
Accounting policies |
|
|
The accounts have been prepared under the historical cost convention. |
|
| 2 |
Controlling party |
|
|
The company’s members are the leaseholders, who have a controlling interest in the company through their membership. The company does not trade or engage in any commercial activity and exists to manage the legal interests related to the headlease. |
|
| 3 |
Headlease Acquisition and Members’ Contributions |
|
|
The company acquired the headlease of the property at Chartwell House, 12 Ladbroke Terrace, London W11 3PG on 1 July 2024, for a total consideration of £95,846. This amount was funded entirely through non-refundable contributions from the leaseholders (members). As these contributions do not give rise to any repayment obligation by the company, they have not been recognised as liabilities in the balance sheet. The company holds the headlease solely for administrative purposes on behalf of the leaseholders. It derives no economic benefit from the arrangement and retains no beneficial interest in the property. As long leases had already been granted to the individual leaseholders prior to the acquisition, the headlease is considered to have negligible or nil value. Accordingly, it has not been recognised as an asset in the financial statements. |
|
| 4 |
Limited by Guarantee |
|
|
The company is a private company limited by guarantee and does not have any share capital. In the event of the company being wound up, each member has undertaken to contribute an amount not exceeding £1 towards the liabilities of the company. |
|
| 5 |
Other information |
|
|
Company's registered office is: |
|
|
17 Abingdon Road |
|
London |
|
England |
|
W8 6AH |