218 Sussex Gardens Freehold Limited - Limited company accounts 18.2

REGISTERED NUMBER: 04230188 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

218 SUSSEX GARDENS FREEHOLD LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mr Graeme Ker

SECRETARY:

Mr Graeme Ker

REGISTERED OFFICE:

Blacklands Farm

Exbury

Southampton

Hampshire

SO45 1AJ

REGISTERED NUMBER:

04230188 (England and Wales)

ACCOUNTANT:

Jane M Andrews

Chartered Accountant

9 Nimrod Close

St Albans

Hertfordshire

AL4 9XY

The director presents his report with the financial statements of the company for the year ended 31 March 2019.

DIRECTOR

Mr Graeme Ker held office during the whole of the period from 1 April 2018 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr Graeme Ker - Secretary

16 December 2019

SERVICE CHARGE INCOME

31,530

24,612

Service charge expenditure

31,530

24,612

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

-

FIXED ASSETS

Tangible assets

4

1

CURRENT ASSETS

Debtors

5

12,441

10,213

Cash at bank

13,929

10,304

26,370

20,517

CREDITORS

Amounts falling due within one year

6

17,317

11,464

NET CURRENT ASSETS

9,053

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,054

CAPITAL AND RESERVES

Called up share capital

50

Other reserves

1

Retained earnings

9,003

SHAREHOLDERS' FUNDS

9,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director on 16 December 2019 and were signed by:

Mr Graeme Ker - Director

1.	STATUTORY INFORMATION

218 Sussex Gardens Freehold Limited 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.

Service charge income

Service charge income represents the amounts chargeable to residents to cover maintenance and management of

the buildings and grounds.

Depreciation

The freehold property which the company manages was purchased in 2001. Depreciation has not been provided

as the director considers the freehold to have a negligible value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of

the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and
buildings

£

Valuation at 1st April 2016

1

Valuation at 31st March 2017

1

The freehold property which the company manages was purchased in 2001. The company has granted

999 year leases on all of the flats and the director considers the freehold to have a negligible value.

5.

DEBTORS

2019

2018

£

Amounts falling due within one year:

Other debtors

12,391

10,163

Amounts falling due after more than one year:

Other debtors

50

Aggregate amounts

12,441

10,213

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Other creditors

17,317

11,464

7.	ULTIMATE CONTROLLING PARTY

During the year the company was under the control of the leaseholders.