REGISTERED NUMBER: 02753094 (England)

Report of the Directors and

Financial Statements

For The Year Ended 31 December 2024

for

QUEEN'S CLUB GARDENS LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

7

Balance Sheet

8

Notes to the Financial Statements

9

DIRECTORS:

N E Brewer

J J Chidson (Chairman)

M F A Derome

P E Fowler

J Inderbitzin-Stone

P R J S Mumford

G R Williams

SECRETARY:

J J Chidson

REGISTERED OFFICE:

5 Zenobia Mansions

Queen's Club Gardens

London

W14 9TD

REGISTERED NUMBER:

02753094 (England)

AUDITORS:

LBCo Ltd

T/A Lees-Buckley & Co

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The company's principal activity during the year was the management of Queen's Club Gardens, London W14.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

N E Brewer

J J Chidson (Chairman)

M F A Derome

P E Fowler

J Inderbitzin-Stone

P R J S Mumford

G R Williams

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included in the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, LBCo Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

G R Williams - Director

20 October 2025

Opinion

We have audited the financial statements of Queen's Club Gardens Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its surplus for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to

you if, in our opinion:

- adequate accounting records have not been kept; or

- the financial statements are not in agreement with the accounting records; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small

companies regime and take advantage of the small companies exemption from the requirement to

prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have familiarised ourselves with the laws and regulations identified as being of significance to the company, namely the Companies Act 2006 and the Landlord and Tenant Act 1985. Audit staff and systems are reviewed annually to ensure adequate experience, knowledge and depth of procedures.

Our work has been designed to identify fraud, misstatement and non-compliance with such laws and regulations through full examination of all transactions and analytical review of results, assets and liabilities. Enquiries of all matters requiring further explanation or confirmation have been made of directors and their agents, such as to confirm our conclusions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lewis Gary Lees-Buckley F.C.A. (Senior Statutory Auditor)

for and on behalf of LBCo Ltd

T/A Lees-Buckley & Co

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

21 October 2025

TURNOVER

57,184

56,192

Profit on disposal of tangible fixed asset

81,259

116,610

GROSS SURPLUS

138,443

172,802

Administrative expenses

(24,224

)

(42,166

)

OPERATING SURPLUS

4

114,219

130,636

Interest receivable and similar income

25,935

3,256

SURPLUS BEFORE TAXATION

140,154

133,892

Tax on surplus

5

(24,005

)

(23,451

)

SURPLUS FOR THE FINANCIAL YEAR

116,149

110,441

FIXED ASSETS

Tangible assets

6

1,108,992

1,115,959

CURRENT ASSETS

Debtors

7

1,296,281

1,853,793

Cash in hand

1,608,983

300,274

2,905,264

2,154,067

CREDITORS

Amounts falling due within one year

8

787,934

654,632

NET CURRENT ASSETS

2,117,330

1,499,435

TOTAL ASSETS LESS CURRENT LIABILITIES

3,226,322

2,615,394

PROVISIONS FOR LIABILITIES

9

504,021

11,242

NET ASSETS

2,722,301

2,604,152

RESERVES

Capital reserves

10

142,825

140,825

Income and expenditure account

10

2,579,476

2,463,327

2,722,301

2,604,152

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2025 and were signed on its behalf by:

J J Chidson (Chairman) - Director

1.	STATUTORY INFORMATION

Queen's Club Gardens Limited is a private company, limited by guarantee , registered in England. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Service Charge Balances

The company is trustee for the service charge of its freehold property and related expenditure is commissioned in its own (company) name. Accordingly, and whilst service charge income and expenditure have been excluded from the Profit and Loss Account, related assets and liabilities are recorded in the Balance Sheet with movement therein shown in notes to the financial statements.

Investment Property (note 6)

In the opinion of the directors, whilst fair value at 31st December 2023 was substantially in excess of cost, the expense of carrying out a valuation would have been out of proportion to any possible value to members.

Turnover

Turnover represents rents and fees receivable for the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	OPERATING SURPLUS

This is stated after charging:

31.12.24

31.12.23

£

£

Auditor's remuneration (Net of VAT)

4,250

3,750

5.

TAXATION

Analysis of the tax charge

The tax charge on the surplus for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

24,005

23,451

Tax on surplus

24,005

23,451

6.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 January 2024

1,115,959

Disposals

(6,967

)

At 31 December 2024

1,108,992

NET BOOK VALUE

At 31 December 2024

1,108,992

At 31 December 2023

1,115,959

.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

Service

Charge

Other

Total

Total

£

£

£

£

Funds Held By Managing Agents

934,794

21,125

955,919

1,073,390

Lessee Account Balances

71,797

55,297

127,094

42,405

Excess Service Charge Due (Note 12)

0

0

0

484,555

Other Debtors & Prepayments

200,124

13,144

213,268

253,443

1,206,715

89,566

1,296,281

1,853,793

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

Service

Charge

Other

Total

Total

£

£

£

£

Corporation Tax

0

23,756

23,756

23,451

Other Taxes

6,461

0

6,461

2,304

Lessee Account Balances

512,981

0

512,981

464,402

Other Creditors & Accruals

183,252

61,484

244,736

164,475

702,694

85,240

787,934

654,632

9.	PROVISIONS FOR LIABILITIES

Service charge reserves

31.12.24

31.12.23

Garages

General

Total

Total

£

£

£

£

Reserves at 1st January

11,242

0

11,242

8,008

Transfer from service charge funds (Note 12)

3,418

489,361

492,779

3,234

Reserves at 31st December

14,660

489,361

504,021

11,242

10.

RESERVES

31.12.24

31.12.23

Capital Reserves

Income and Expenditure Account

Total

Total

£

£

£

£

Balance brought forward

140,825

2,463,327

2,604,152

2,491,711

Contribution received from new member during the year

2,000

0

2,000

2,000

Profit for the year

0

116,149

116,149

110,441

Capital Reserves and Profit & Loss Account, carried forward

142,825

2,579,476

2,722,301

2,604,152

11.	LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital, 546 members having guaranteed £1 each.

12.	LESSEE SERVICE CHARGE FUNDS

During the year the company received contributions from the lessees of Queen's Club Gardens, London W14 in respect of the management of the property. The movement of those funds during the year was as follows;

31.12.24

31.12.23

Contributions receivable from lessees

£

£

£

Advance service charge demands

2,324,073

2,189,000

Service charge expenditure

1,363,365

1,381,269

Transfer to reserves

492,779

3,234

1,856,144

1,384,503

Interest received, less provision for taxation

(16,626

)

(8,051

)

1,839,518

1,376,452

484,555

812,548

Due from lessees at 31st December 2023

(484,555

)

(1,297,103

)

Due from lessees at 31st December 2024

0

(484,555

)