Registration number:
38 Draycott Place Freehold Company Ltd (A company limited by guarantee)
for the Year Ended 24 December 2024
38 Draycott Place Freehold Company Ltd
Contents
|
Company Information |
|
|
Statement of Financial Position |
|
|
Notes to the Unaudited Financial Statements |
38 Draycott Place Freehold Company Ltd
Company Information
|
Directors |
E B Golson F J Harry E Haim-Swarovski R D Leigh P A Reynolds A K Vaananen Gisev Family Office S.P.A. |
|
Company secretary |
F J Harry |
|
Registered office |
|
|
Accountants |
|
38 Draycott Place Freehold Company Ltd
(Registration number: 06359671)
Statement of Financial Position as at 24 December 2024
|
Note |
2024 |
2023 |
|
|
Non-current assets |
|||
|
Property, plant and equipment |
|
|
|
|
Current assets |
|||
|
Receivables |
|
|
|
|
Payables: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Equity |
|||
|
Capital contribution |
|
|
|
|
Retained earnings |
|
|
|
|
Total equity |
|
|
For the financial year ending 24 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
.........................................
Director
.........................................
Company secretary and director
38 Draycott Place Freehold Company Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 24 December 2024
|
General information |
38 Draycott Place Freehold Company Ltd (the 'company') is a company limited by guarantee, registered in England and Wales under the Companies Act, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
|
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Judgements
There were no critical judgements made by the directors in the process of applying the company’s accounting policies which have the most significant effect on the amounts recognised in the financial statements.
Revenue recognition
Turnover represents ground rents receivable.
38 Draycott Place Freehold Company Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 24 December 2024 (continued)
|
2 |
Accounting policies (continued) |
Taxation
The tax expense for the period comprises current tax. Tax is recognised in the income statement, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the year end.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Property, plant and equipment
Tangible fixed assets comprises the freehold land at 38 Draycott Place, London, SW3 2SA. No depreciation is provided in respect of the land.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk
of change in value.
Financial instruments
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Property, plant and equipment |
|
Freehold land |
|
|
Cost |
|
|
At 25 December 2023 |
|
|
At 24 December 2024 |
|
|
Carrying amount |
|
|
At 24 December 2024 |
|
|
At 24 December 2023 |
|
38 Draycott Place Freehold Company Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 24 December 2024 (continued)
|
Receivables |
|
2024 |
2023 |
|
|
Ground rent arrears |
|
|
|
Other receivables |
|
|
|
Prepayments |
|
|
|
|
|
|
Payables |
|
2024 |
2023 |
|
|
Due within one year |
||
|
Accrued expenses & deferred income |
|
|
|
Reserves |
Capital contributions represents funding received from the directors.
The retained earnings reserve represents cumulative profit or losses and other adjustments.
|
|
|
Capital contribution |
Retained earnings |
Total |
|
|
At 25 December 2023 |
32,874 |
16,488 |
49,362 |
|
Profit for the year |
- |
5,472 |
5,472 |
|
Other comprehensive income |
30,200 |
- |
30,200 |
|
Total comprehensive income |
30,200 |
5,472 |
35,672 |
|
At 24 December 2024 |
63,074 |
21,960 |
85,034 |
|
Related party transactions |
There were no related party transactions to disclose.