Registered number
07126952
City Road Flat Management Company Limited
Unaudited Filleted Accounts
31 December 2024
City Road Flat Management Company Limited
Registered number: 07126952
Balance Sheet for the Limited Company
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 33,881 33,881
Current assets
Debtors 4 707 707
Net current assets 707 707
Total assets less current liabilities 34,588 34,588
Creditors: amounts falling due after more than one year 5 (33,865) (33,865)
Net assets 723 723
Capital and reserves
Called up share capital 16 16
Income and Expenditure account 707 707
Shareholders' funds 723 723
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Loh
Director
Approved by the board on 20 June 2025
City Road Flat Management Company Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes historical income received in respect of the property at 315 City Road, London EC1V 1LA
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold of the building over 0 years
The residual value of the Freehold of the building is deemed to be equal to, or exceeds, its current carrying value, and therefore the depreciation for the year was £Nil
In accordance with FRS102 the freehold of the building has been treated as property, plant and equipment.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

There is no Corporation Tax payable based on the result for the year (2023: No Corporation Tax payable)
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Freehold of the Buildings
£
Cost
At 1 January 2024 33,881
At 31 December 2024 33,881
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 33,881
At 31 December 2023 33,881
Freehold land and buildings: 2024 2023
£ £
Historical cost 33,881 33,881
Cumulative depreciation based on historical cost - -
33,881 33,881
Tangible Fixed Assets represent the Freehold Property title to 315 City Road, London at cost.
4 Debtors 2024 2023
£ £
Monies owed from unincorporated service charge accounts 707 707
5 Creditors: amounts falling due after one year 2024 2023
£ £
Freehold purchase liability 33,865 33,865
6 Freehold Purchase Liability
The freehold purchase liability of £33,881.25 represents amounts the company has borrowed indefinitely from each flat owner relating to the freehold purchase. The eight flat owners are as follows;
Ms Newman
Mrs H Perkoff
Mr N O'Rourke & Mr S Lally
Ms C Lum & Mr W Lum
Mr A James
Mr S Fearn
Mr H Lodhia
Y Y Ooi & J C Loh
7 315 City Road, London, EC1V 1LA
The unincorporated 315 City Road, London EC1V 1LA collects the service charges for the property owned by the freehold. A balance of £707.45 is included within Debtors, which relates to monies of the Freehold Company currently held by the unincorporated 315 City Road London EC1V 1LA. (2023:£707.45)
8 Transactions with Director
None Noted
9 Service Charge Surplus and Reserves held on Trust
The service charge surplus and reserves are held on trust for lessees within the Service Charge accounts known as 315 City Road, London EC1V 1LA and have a balance sheet total of £56,559 as at 31st December 2024.
10 Costs of City Road Flat Management Company Limited
During the year the Company incurred costs which are associated with the general running of a Limited Company. These costs including the Annual Accounts fees, Annual Return fee, Company Secretary fees and D&O Insurance, all of which have been charged to the Service Charge accounts in accordance with the lease.
11 Other information
City Road Flat Management Company Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Old Bank
Beaufort Street
Crickhowell
Powys
NP8 1AD
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