71 Park Street Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02650248 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2021

for

71 Park Street Management Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1

3,882

CURRENT ASSETS

Debtors

5

108,191

78,772

Cash at bank and in hand

355,787

341,590

463,978

420,362

CREDITORS

Amounts falling due within one year

6

167,687

149,845

NET CURRENT ASSETS

296,291

270,517

TOTAL ASSETS LESS CURRENT LIABILITIES

296,292

274,399

AMOUNTS DUE TO TENANTS

(359,599

)

(394,799

)

TENANT DEPOSITS HELD AT BANK

359,599

396,799

NET ASSETS

296,292

276,399

CAPITAL AND RESERVES

Called up share capital

7

13

13

Share premium

5,104

5,104

Retained earnings

291,175

271,282

SHAREHOLDERS' FUNDS

296,292

276,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2022 and were signed on its behalf by:

D Rubin - Director

1.	STATUTORY INFORMATION

71 Park Street Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02650248

Registered office:

Upper Feilde,

71 Park Street,

Mayfair,

London

W1K 7HN

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.

The director considers that Pounds Sterling are the company's functional currency. The financial statements are therefore presented in Pounds Sterling.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

over the term of the lease

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.

Other operating income

Other operating income represents licence fees and rental income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 October 2020

and 30 September 2021

171,380

DEPRECIATION

At 1 October 2020

167,498

Charge for year

3,881

At 30 September 2021

171,379

NET BOOK VALUE

At 30 September 2021

1

At 30 September 2020

3,882

The Directors consider the market value of the leasehold to be £1 as at the year end.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Due from Lessees

66,602

23,892

Other debtors

2,239

6,191

Prepayments

39,350

48,689

108,191

78,772

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Surplus due to lessees

14,436

2,688

Corporation tax

5,577

7,675

Other creditors

22,621

11,401

Sinking fund

111,946

111,946

Loan notes

1,049

1,049

Accruals and deferred income

12,058

15,086

167,687

149,845

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

13

Ordinary

£1

13

13

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There was no dividend declared or paid during the year to the directors of the company.

9.	ULTIMATE CONTROLLING PARTY

In the opinion of directors there is no Ultimate Controlling Party.