Limes gardens Freehold Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10631179 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1ST MARCH 2018 TO 31ST DECEMBER 2018

FOR

LIMES GARDENS FREEHOLD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms R H Bahnemann

G S Bridge

Ms F M Dawson

Ms D M McNally

L Williams

SECRETARY:

Ms R H Bahnemann

REGISTERED OFFICE:

31-33 College Road

Harrow

London

HA1 1EJ

REGISTERED NUMBER:

10631179 (England and Wales)

ACCOUNTANTS:

Sproull & Co.

Chartered Accountants

31-33 College Road

Harrow

Middlesex

HA1 1EJ

FIXED ASSETS

Tangible assets

4

201,942

-

CURRENT ASSETS

Debtors

5

22,266

5

Cash at bank

1,380

-

23,646

5

CREDITORS

Amounts falling due within one year

6

18,411

-

NET CURRENT ASSETS

5,235

5

TOTAL ASSETS LESS CURRENT LIABILITIES

207,177

5

CREDITORS

Amounts falling due after more than one year

7

199,602

-

NET ASSETS

7,575

5

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

7,570

-

7,575

5

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 24th October 2019 and were signed on its behalf by:

Ms R H Bahnemann - Director

1.	STATUTORY INFORMATION

Limes gardens Freehold Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

No depreciation is provided on the freehold property as the directors are of the opinion that the property is

maintained to such a standard that, when taking into account the expected residual value of the property and its

estimated useful economic life, any charge to depreciation would be immaterial to the financial statements.

Taxation

Current tax 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 period was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

Additions

404,913

Disposals

(202,971

)

At 31st December 2018

201,942

NET BOOK VALUE

At 31st December 2018

201,942

During the period the company purchased the freehold interest of Limes Gardens, including various estate assets.

The total consideration, including associated professional fees, was £900,788, which was funded by

contributions from participating members.

Within the total consideration were eight amounts totalling £495,875, which were funded by the eight

participants, to whom extended leases were granted at the same time.

In addition, other assets within the original acquisition have subsequently been sold.

£

Total consideration

900,788

Cost of extended leases to participants

(495,875

)

404,913

Cost of disposals in period

(202,971

)

Residual cost

201,942

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2018

£

£

Other debtors

22,266

5

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2018

£

£

Taxation

1,681

-

Other creditors

500

-

Contributions from participants for funding

12,390

-

Accrued expenses

3,840

-

18,411

-

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2018

£

£

Contributions from participants for purchase

199,602

-

The contributions from participants for purchase relates to the monies contributed by the participants to fund the

purchase of the freehold interest. The amounts contributed will not be repaid in the foreseeable future.