47-58 Westminster Mansions Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2025

1	General information

47-58 Westminster Mansions Limited (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.

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 director has considered the company’s financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future and have also reviewed the availability of banking facilities. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continues to adopt the going concern basis in preparing the company’s 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 (£).

Reclassification of comparative amounts

During the year, the company reviewed the presentation of service charge transactions. Service charge monies are collected and held on trust on behalf of the leaseholders for the purpose of meeting the relevant costs in relation to the property and do not represent the company's funds. Therefore, the transactions and balances relating to the service charge are no longer included within the statutory financial statements and are reported separately in service charge accounts, which are prepared in accordance with ACCA professional guidance known as Technical Factsheet 172. Comparative figures have been restated accordingly.

47-58 Westminster Mansions Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Judgements

There are 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.

Taxation

Tax is recognised in profit or loss, 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.
Income tax charges are calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Property, plant and equipment

Property, plant and equipment comprises the freehold land at 47-58 Westminster Mansions, 1 Little Smith Street London SW1P 3DQ. No depreciation is provided on this.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

4	Property, plant and equipment

	Freehold land £
Cost or valuation
At 1 January 2025 and at 31 December 2025	1
Carrying amount
At 31 December 2025	1
At 31 December 2024	1

47-58 Westminster Mansions Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2025 (continued)

5

Payables

	2025 £	As restated 2024 £
Due within one year
Other payables	1	1

6	Service charge accounts

Service charge accounts have been prepared for 47-58 Westminster Mansions, 1 Little Smith Street, London, SW1P 3DQ in respect of the year ended 31 December 2025. A copy of these accounts may be obtained from the managing agent, Willmotts (Ealing) Limited, at the registered office address.