COMPANY REGISTRATION NUMBER:
02715860
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42 Kingsfield Road Limited |
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Filleted Unaudited Financial Statements |
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42 Kingsfield Road Limited |
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Year ended 31 May 2025
The directors present their report and the unaudited financial statements of the company for the year ended
31 May 2025
.
Principal activities
The principal activity of the company during the year was the supply of property management services to the lessees of the flats at 42 Kingsfield Road. The company does not trade with a view to profit and service charges are collected and held on trust for the lessees benefit. Accordingly, the service charge income and expenditure is excluded from the company's accounts and separate service charge accounts are prepared.
Directors
The directors who served the company during the year were as follows:
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A Brown |
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J Coule |
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F Martino |
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Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
30 August 2026
and signed on behalf of the board by:
Amanda Brown
_______________
Director
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Registered office: |
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3a The Wenta Business Centre |
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Colne Way |
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Watford |
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Herts |
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WD24 7ND |
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42 Kingsfield Road Limited |
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31 May 2025
Fixed assets
|
Tangible assets |
4 |
|
2,830 |
2,830 |
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|
|
|
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Current assets
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Debtors |
5 |
200 |
|
345 |
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Cash at bank and in hand |
3,941 |
|
2,075 |
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------- |
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------- |
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4,141 |
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2,420 |
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|
|
|
|
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Creditors: amounts falling due within one year |
6 |
2,621 |
|
894 |
|
------- |
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------- |
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Net current assets |
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1,520 |
1,526 |
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|
------- |
------- |
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Total assets less current liabilities |
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4,350 |
4,356 |
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|
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Creditors: amounts falling due after more than one year |
7 |
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2,968 |
2,968 |
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------- |
------- |
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Net assets |
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1,382 |
1,388 |
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------- |
------- |
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Capital and reserves
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Called up share capital |
|
4 |
4 |
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Profit and loss account |
|
1,378 |
1,384 |
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|
------- |
------- |
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Shareholders funds |
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1,382 |
1,388 |
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------- |
------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
30 August 2026
, and are signed on behalf of the board by:
Filomena Martino
_______________ Director
Company registration number:
02715860
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42 Kingsfield Road Limited |
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Notes to the Financial Statements |
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Year ended 31 May 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3a The Wenta Business Centre, Colne Way, Watford, Herts, WD24 7ND.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The company acts as trustee in respect of service charge monies collected for the maintenance of the common parts in accordance with the leases. In accordance with the latest accounting guidelines, the company's accounting policy is to exclude these funds and transactions from its financial statements as separate service charge accounts are prepared.
Revenue recognition
Turnover represents the ground rent income received in the year. The company does not trade with a view to profit but manages the property at 42 Kingsfield Road on behalf of the lessees as described above and in the directors report and for which the company makes no charge.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tangible assets
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Land and buildings |
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£ |
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Cost |
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At 1 June 2024 and 31 May 2025 |
2,830 |
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------- |
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Depreciation |
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At 1 June 2024 and 31 May 2025 |
– |
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------- |
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Carrying amount |
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At 31 May 2025 |
2,830 |
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------- |
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At 31 May 2024 |
2,830 |
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------- |
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In the opinion of the directors, the market value of the freehold interest in land and buildings is fairly represented by the original cost shown.
5.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Prepayments and accrued income |
200 |
345 |
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---- |
---- |
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6.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
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Funds held on behalf of the lessees |
2,621 |
894
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------- |
---- |
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7.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
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Shareholder loans |
2,968 |
2,968 |
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------- |
------- |
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The loans are not repayable to the shareholders while the company continues to own the freehold interest in 42 Kingsfield Road. Where there is a leasehold sale by a shareholder, the benefit of that part of the total loan which attaches that shareholder is assigned on completion to the incoming lessee as a new shareholder.