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Registration number: 06359671

38 Draycott Place Freehold Company Ltd (A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 24 December 2024

 

38 Draycott Place Freehold Company Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

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

Flat 6 38 Draycott Place
London
SW3 2SA

Accountants

Service Charge Assurance Limited
Chartered AccountantsSalatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

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

4

19,878

19,878

Current assets

 

Receivables

5

66,013

30,238

Payables: Amounts falling due within one year

6

(857)

(754)

Net current assets

 

65,156

29,484

Net assets

 

85,034

49,362

Equity

 

Capital contribution

7

63,074

32,874

Retained earnings

7

21,960

16,488

Total equity

 

85,034

49,362

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 6 June 2025 and signed on its behalf by:

.........................................

E B Golson
Director

.........................................

F J Harry
Company secretary and director

 

38 Draycott Place Freehold Company Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 24 December 2024

1

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.

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

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Property, plant and equipment

Freehold land
£

Cost

At 25 December 2023

19,878

At 24 December 2024

19,878

Carrying amount

At 24 December 2024

19,878

At 24 December 2023

19,878

 

38 Draycott Place Freehold Company Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 24 December 2024 (continued)

5

Receivables

2024
£

2023
£

Ground rent arrears

104

104

Other receivables

65,077

30,102

Prepayments

832

32

66,013

30,238

6

Payables

2024
£

2023
£

Due within one year

Accrued expenses & deferred income

857

754

7

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

8

Related party transactions

There were no related party transactions to disclose.