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REGISTERED NUMBER: 00790234 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

59 HOLLAND PARK MANAGERS LIMITED
59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


59 HOLLAND PARK MANAGERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: T Kerno
I J Kerno
O Majidpour
P C Michael
P Steggall





SECRETARY: JMW Barnard Management Limited





REGISTERED OFFICE: JMW Barnard Management Limited
17 Abingdon Road
London
W8 6AH





REGISTERED NUMBER: 00790234 (England and Wales)





AUDITORS: Sproull & Co.
Chartered Accountants
Statutory Auditors
First Floor, Jebsen House
53-61 High Street
Ruislip
Middlesex
HA4 7BD
Page 1
59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £ £
CURRENT ASSETS
Debtors 4 31,710 21,920
Cash at bank 5 72,112 62,762
103,822 84,682
CREDITORS
Amounts falling due within one year 6 21,003 15,329
NET CURRENT ASSETS 82,819 69,353
TOTAL ASSETS LESS CURRENT
LIABILITIES
82,819
69,353

CAPITAL AND RESERVES
Called up share capital 125 125
Other reserve - Flat A 7 40,327 29,570
Projects reserve 7 (2,665 ) (9,376 )
Retained earnings 7 45,032 49,034
SHAREHOLDERS' FUNDS 82,819 69,353

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

In accordance with Section 444 of the Companies Act 2006, the Income and Expenditure Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th September 2025 and were signed on its behalf by:





P C Michael - Director


The notes form part of these financial statements

Page 2
59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

59 Holland Park Managers Limited is a private company, limited by shares , registered in England and Wales. 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 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.

Departures from Companies Act requirements
The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income and cost of sales has been replaced by service charge expenditure. This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activities. The result for the year is unaffected by the accounting treatment adopted.

Income
Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987.

Service charge income represents variable service charges receivable from the members for the year.

Flat A income represents rental income receivable in respect of Flat A, a property at 59 Holland Park owned by the company.

Taxation
The company acts as a trustee in respect of funds held to manage 59 Holland Park. In consequence service charge contributions and service charge expenditure items are neither taxable nor allowable for corporation tax purposes.

Service charge monies are held on trust in accordance with Section 42 of the Landlord and Tenant Act 1987. Interest earned on service charge monies held on deposit is now received gross. As the interest falls below HMRC's informal relaxation threshold for trusts that only receive interest, no trust tax return will need to be filed, or tax paid on interest, until such time interest exceeds such threshold, or HMRC notifies otherwise.

Corporation tax is provided in respect of net rental income from Flat A and is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Service charge arrears 23,642 14,855
Other receivables 1,088 1,088
Prepayments 6,980 5,977
31,710 21,920

Page 3
59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Debtors can be further analysed between company and service charge assets as follows:

20242023
££
Service charge debtors
Service charge arrears23,64214,855
Other receivables1,0381,038
Prepayments5,7514,743
30,43120,636
Company debtors
Other receivables5050
Prepayments1,2291,234
1,2791,284

5. CASH AT BANK

The bank balances held represent both company and service charge trust monies, as follows:
2024 2023
£ £
Service charge trust money 15,971 24,466
Company money 56,141 38,296
72,112 62,762

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 234 185
Taxation 1,634 -
Social security and other taxes 224 159
Other creditors 9,460 9,460
Accruals 7,718 3,900
Deferred income - Flat A 1,733 1,625
21,003 15,329

Page 4
59 HOLLAND PARK MANAGERS LIMITED (REGISTERED NUMBER: 00790234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Creditors can be further analysed between company and service charge liabilities as follows:

20242023
££
Service charge creditors
Trade creditors234185
Social security and other taxes224159
Other creditors9,4609,460
Accruals5,8883,030
15,80612,834
Company creditors
Taxation1,634-
Accruals1,830870
Deferred income1,7331,625
5,1972,495

7. RESERVES
Other
Retained reserve - Projects
earnings Flat A reserve Totals
£ £ £ £

At 1st January 2024 49,034 29,570 (9,376 ) 69,228
Profit for the year 16,755 - - 16,755
Reserve expenditure - - (3,289 ) (3,289 )
Transfer to Projects reserve (10,000 ) - 10,000 -
Transfer Flat A surplus (10,757 ) 10,757 - -
At 31st December 2024 45,032 40,327 (2,665 ) 82,694

Details of Projects Reserve expenditure:

£   
External repair and redecoration3,289
3,289

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michelle Wickwar (Senior Statutory Auditor)
for and on behalf of Sproull & Co.

Page 5