King & Queen Wharf Freehold Co Ltd - Accounts to registrar (filleted) - small 18.2
King & Queen Wharf Freehold Co Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 24TH MARCH 2019 |
| FOR |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED (REGISTERED NUMBER: 06475392) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 24TH MARCH 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 24TH MARCH 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 31-33 College Road |
| Harrow |
| Middlesex |
| HA1 1EJ |
| MANAGING AGENTS: |
| Portsoken House |
| 155-157 Minories |
| London |
| EC3N 1LJ |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED (REGISTERED NUMBER: 06475392) |
| BALANCE SHEET |
| 24TH MARCH 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED (REGISTERED NUMBER: 06475392) |
| BALANCE SHEET - continued |
| 24TH MARCH 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED (REGISTERED NUMBER: 06475392) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 24TH MARCH 2019 |
| 1. | STATUTORY INFORMATION |
| King & Queen Wharf Freehold Company Limited is a |
| 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 |
| Turnover |
| Turnover represents ground rents and insurance commission refunds receivable. |
| Tangible fixed assets |
| No depreciation is charged on the freehold property as the directors consider that, on reviewing the residual |
| value expected of the property and its estimated useful life, such an amount would be immaterial to the financial |
| statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST |
| At 25th March 2018 |
| and 24th March 2019 |
| NET BOOK VALUE |
| At 24th March 2019 |
| At 24th March 2018 |
| The company was set up to acquire the freehold property and other assets at King & Queen Wharf, the purchase |
| of which took place in February 2010. |
| The total cost of acquisition included the cost of the King & Queen Wharf freehold, the cost of the 999 year |
| leasehold interest in the Globe Wharf car park, and the net legal and professional costs. |
| Following the acquisition of the freehold title, extended leases have been granted to 129 (2018 - 127) member |
| participants. |
| Following the acquisition, the company would initially receive annual ground rents of £26,500 per annum. The |
| ground rent of non-participants doubled from 2014 in accordance with their leases. The ground rent of |
| participants is reviewed annually and was reduced from March 2014 onwards. |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED (REGISTERED NUMBER: 06475392) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 24TH MARCH 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Due from lessees |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other taxation and social security |
| Lessee payments in advance | 995 | 515 |
| Other creditors | 6,758 | 6,758 |
| Loan from King & Queen Wharf |
| Residents Company Limited | 50,000 | 80,000 |
| Due to King & Queen Wharf |
| Residents Company Limited | 580 | 300 |
| Accruals and deferred income |
| The loan from King & Queen Wharf Residents Company Limited is repayable on six months notice, and interest |
| is payable thereon at 4% over bank base rate. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Loans received from participants for acquisition of the freehold |
638,720 |
628,740 |
| The loans received from participants are the net monies contributed towards the acquisition of the freehold and |
| other assets, and are interest free, and are unlikely to be repaid in the foreseeable future. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £10 | 1,290 | 1,270 |
| During the year a further two £10 ordinary shares were issued for a consideration for each of £12,472 |
| comprising £10 for share capital, £7,472 share premium, and £4,990 long term shareholder loan. |
| KING & QUEEN WHARF FREEHOLD COMPANY |
| LIMITED (REGISTERED NUMBER: 06475392) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 24TH MARCH 2019 |
| 9. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 25th March 2018 | 121,598 |
| Profit for the year | - |
| Addition in year |
| At 24th March 2019 | 137,175 |