Belgrave Gardens Management Limited - Limited company accounts 11.6

REGISTERED NUMBER: 04729806 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

BELGRAVE GARDENS MANAGEMENT LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Accountants

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

Sherine Dewlett

Matthew Colin Eddolls

Aidan Paul Morris

SECRETARY:

Michael Laurie Magar Limited

REGISTERED OFFICE:

Melville House

2nd Floor

8-12 Woodhouse Road

London

N12 0RG

REGISTERED NUMBER:

04729806 (England and Wales)

ACCOUNTANTS:

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

The directors present their report with the financial statements of the company for the year ended

31 December 2014.

PRINCIPAL ACTIVITY

The company's activities comprise the control, supervision and management, on behalf of the tenants, of the

site known as Belgrave Gardens, London NW8 0RE. Belgrave Gardens (Jersey) Limited own the

reversionary freehold interest.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2014 to the date of

this report.

Sherine Dewlett

Matthew Colin Eddolls

Aidan Paul Morris

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in

accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law

the directors have elected to prepare the financial statements in accordance with United Kingdom Generally

Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company

law the directors must not approve the financial statements unless they are satisfied that they give a true and

fair view of the state of affairs of the company and of the profit or loss of the company for that period. In

preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain

the company's transactions and disclose with reasonable accuracy at any time the financial position of the

company and enable them to ensure that the financial statements comply with the Companies Act 2006. They

are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for

the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

Aidan Paul Morris - Director

28 May 2015

In accordance with the terms of our engagement letter with Michael Laurie Magar Limited who act as agents

to Belgrave Gardens Management Limited ("the company"), we set out our chartered accountants' report to

the board of directors on the preparation of the unaudited statutory accounts for the year ended 31 December

2014:

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the accounts of the company for year ended 31 December 2014 from the company's accounting records and

the information and explanations supplied to us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we

are subject to its ethical and other professional requirements which are detailed at

icaew.com/membershandbook.

Our work has been undertaken to prepare, for your approval, the accounts of the company and to state those

matters that we have agreed to state to you, as a body, in this report in accordance with AAF 2/10 as detailed

at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to

anyone other than the company and its board of directors as a body for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory

accounts that give a true and fair view of the assets, liabilities, financial position and surplus of the company.

You consider that the company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of the company. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations that you have given us and we do not, therefore, express any opinion on the statutory accounts.

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

28 May 2015

TURNOVER

-

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

-

Tax on profit on ordinary activities

3

-

PROFIT FOR THE FINANCIAL YEAR

-

CURRENT ASSETS

Debtors

4

22

TOTAL ASSETS LESS CURRENT
LIABILITIES

22

CAPITAL AND RESERVES

Called up share capital

5

22

SHAREHOLDERS' FUNDS

22

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 28 May 2015 and were signed on its
behalf by:

Aidan Paul Morris - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Service charge funds

The company receives contributions towards property outgoings from the lessees ('service charge

funds'). However, as set out in Section 42 of The Landlord & Tenant Act 1987, the company holds

these funds in trust for the lessees and, in accordance with recommended practice issued by Institute

of Chartered Accountants in England and Wales, these contributions are not reflected in the accounts.

2.	OPERATING PROFIT

The directors received no remuneration in respect of their services to the company for the year.

3.

TAXATION

Service charge funds are held by the company in trust for the tenants and hence any income tax

chargeable at the rate applicable to such trusts is not reflected in these accounts.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.14

31.12.13

£

Other debtors

22

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

22

Ordinary shares

£1

22

6.

RESERVES

Profit

and loss

account

£

Profit for the year

-

At 31 December 2014

-

7.	ULTIMATE CONTROLLING PARTY AND RELATED PARTY TRANSACTIONS

The company is controlled by a voting majority of its shareholders and accordingly there is no

controlling related party.