33 Stanhope Gardens Residents Company Limited

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

1	General information

33 Stanhope Gardens Residents Company Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. 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 directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual 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 pounds sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pounds sterling (£).

Departure from requirements of FRS 102

The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income, cost of sales has been replaced by service charge expenditure and profit/(loss) has been replaced by surplus/(deficit). 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 activity. The result for the year is unaffected by the accounting treatment adopted.

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.

33 Stanhope Gardens Residents Company Limited

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

2	Accounting policies (continued)

Revenue recognition

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 leaseholders for the year.

Tax

The company acts as a trustee in respect of funds held to manage 33 Stanhope Gardens. In consequence, service charge income and service charge expenditure items are neither taxable nor allowable for corporation tax purposes and therefore there is no liability to UK corporation tax. Income tax payable is provided on investment income at the current rate of tax.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Property, plant and equipment

Tangible fixed assets comprises the freehold land at 33 Stanhope Gardens, London, SW7 5QY.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land	No depreciation provided.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

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

33 Stanhope Gardens Residents Company Limited

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

4	Property, plant and equipment

	Freehold land £
Cost
At 1 January 2025	65,604
At 31 December 2025	65,604
Net book value
At 31 December 2025	65,604
At 31 December 2024	65,604

5	Receivables

	2025 £	2024 £
Prepayments	5,226	5,041
	5,226	5,041

6

Cash

	2025 £	2024 £
Cash at bank	76,320	70,513

33 Stanhope Gardens Residents Company Limited

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

7

Payables

	2025 £	2024 £
Due within one year
Receipts in advance	13,621	13,278
Accrued expenses	454	450
	14,075	13,728
Due after one year
Other creditors	7,810	7,810

Other creditors represents shareholders' funds introduced to the company for the purchase of the freehold interest in 33 Stanhope Gardens, London, SW7 5QY.

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	6	6	6	6

9

Reserves

		Service charge reserve		Maintenance reserve		Capital reserve		Total
		£		£		£		£
At 1 January 2025		944		61,170		57,500		119,614
Surplus for the year		5,645		-		-		5,645
Contribution to maintenance reserve		(4,000)		4,000		-		-
Transfer net interest to maintenance reserve		(514)		514		-		-
At 31 December 2025		2,075		65,684		57,500		125,259

33 Stanhope Gardens Residents Company Limited

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

10	Related party transactions

There were no other party related party transactions to disclose.