Cecil Close Limited - Limited company accounts 11.7

REGISTERED NUMBER: 03133317 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2014

for

Cecil Close Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

O C Coleman

D J Hill

K Kara

SECRETARIES:

Crabtree PM Limited

K Hobbs

REGISTERED OFFICE:

c/o Crabtree Property Management LLP

Marlborough House

298 Regents Park Road

London

N3 2UU

REGISTERED NUMBER:

03133317 (England and Wales)

ACCOUNTANTS:

Cartwrights

Chartered Accountants and Business Advisors

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The directors present their report with the financial statements of the company for the year ended 31 December 2014.

DIRECTORS

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

report.

O C Coleman

D J Hill

K Kara

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:

Crabtree PM Limited - Secretary

1 May 2015

TURNOVER

2,641

2,050

Administrative expenses

(545

)

(544

)

OPERATING PROFIT

2

2,096

1,506

Interest receivable and similar income

10

9

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2,106

1,515

Tax on profit on ordinary activities

3

(421

)

(303

)

PROFIT FOR THE FINANCIAL YEAR

1,685

1,212

CONTINUING OPERATIONS

None of the company's activities were acquired or discontinued during the current year or previous year.

TOTAL RECOGNISED GAINS AND LOSSES

The company has no recognised gains or losses other than the profits for the current year or previous year.

FIXED ASSETS

Tangible assets

4

11,280

CURRENT ASSETS

Debtors

5

105

Cash at bank

13,284

12,367

13,389

12,472

CREDITORS

Amounts falling due within one year

6

757

1,525

NET CURRENT ASSETS

12,632

10,947

TOTAL ASSETS LESS CURRENT
LIABILITIES

23,912

22,227

CREDITORS

Amounts falling due after more than one
year

7

4,550

NET ASSETS

19,362

17,677

CAPITAL AND RESERVES

Called up share capital

8

13

Share premium

9

2,999

Profit and loss account

9

16,350

14,665

SHAREHOLDERS' FUNDS

11

19,362

17,677

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.

The financial statements were approved by the Board of Directors on 1 May 2015 and were signed on its behalf by:

O C Coleman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the total value of ground rents contributed by residents in respect of ground rent

expenditure incurred during the year.

Tangible fixed assets and depreciation

There has been a change in the accounting policy in relation to depreciation of freehold property.

Up to 31 December 2005, freehold property other than freehold land was deprecated at a rate of 2% per annum

on cost. No depreciation was provided on freehold land.

From January 2006, it was decided that no further deprecation would be provided on freehold land and

buildings and that there would be no revaluation of freehold land and buildings.

Freehold land and buildings are therefore now continually stated in the accounts at their book value at 31

December 2005.

They are regularly maintained and repaired such that their condition and value is maintained.

Deferred tax

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

balance sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2014

2013

£

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

2014

2013

£

Current tax:

UK corporation tax

421

303

Tax on profit on ordinary activities

421

303

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2014

and 31 December 2014

11,280

NET BOOK VALUE

At 31 December 2014

11,280

At 31 December 2013

11,280

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Ground rent accrued

105

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Ground rent prepaid

36

24

Taxation and social security

421

601

Other creditors

300

900

757

1,525

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2014

2013

£

Other creditors

4,550

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

13

Ordinary

£1

13

9.

RESERVES

Profit

and loss

Share

account

premium

Totals

£

At 1 January 2014

14,665

2,999

17,664

Profit for the year

1,685

At 31 December 2014

16,350

2,999

19,349

10.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

11.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2014

2013

£

Profit for the financial year

1,685

1,212

Net addition to shareholders' funds

1,685

1,212

Opening shareholders' funds

17,677

16,465

Closing shareholders' funds

19,362

17,677