Copse Hill Estate Limited - Accounts to registrar (filleted) - small 18.2

Copse Hill Estate Limited - Accounts to registrar (filleted) - small 18.2

COPSE HILL ESTATE LIMITED - Company Information

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REGISTERED NUMBER: 02032433 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

COPSE HILL ESTATE LIMITED
COPSE HILL ESTATE LIMITED (REGISTERED NUMBER: 02032433)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COPSE HILL ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: I A Cessford
A E Jamieson
K Kelly





SECRETARY: A E Jamieson





REGISTERED OFFICE: 4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU





REGISTERED NUMBER: 02032433 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY
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COPSE HILL ESTATE LIMITED (REGISTERED NUMBER: 02032433)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,875 1,875

CURRENT ASSETS
Debtors 5 596 730
Cash at bank 28,238 35,564
28,834 36,294
CREDITORS
Amounts falling due within one year 6 8,071 6,292
NET CURRENT ASSETS 20,763 30,002
TOTAL ASSETS LESS CURRENT
LIABILITIES
22,638
31,877

CAPITAL AND RESERVES
Called up share capital 7 7,600 7,600
Retained earnings 15,038 24,277
SHAREHOLDERS' FUNDS 22,638 31,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 May 2022 and were signed on its behalf by:





K Kelly - Director


The notes form part of these financial statements

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COPSE HILL ESTATE LIMITED (REGISTERED NUMBER: 02032433)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Copse Hill Estate 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 company holds the freehold title to land (communal gardens) surrounding 38 townhouses known as Copse Hill Estate. The freehold title to each townhouse and its footprint is held by the respective homeowner. Under a Scheme of Arrangement between the company and the homeowners, made under Section 19 of the Leasehold Reform Act 1967, the operations of the company comprise the maintenance of the communal gardens and the company is empowered to require homeowners to act according to provisions of the scheme relating to the estate's general appearance and to pay their proportionate share of all costs incurred in the operations and general management of the estate.

The company's sole source of income is from fees paid by the estate's homeowners and under its Memorandum of Association the company is obliged to apply all its income and profits for the benefit of its objects and may not distribute any portion of its income and profits to its members. Under the company's Articles of Association shares may only be issued to homeowners on the estate and shareholders ceasing to be homeowners have no voting rights and are not eligible to be directors.

The directors of the company have considered Technical Release TR03-11 'Accounting for Service Charges' and, due to the restrictions imposed by the company's Memorandum and Articles of Association and the common relationship between the company's shareholders and the estate's homeowners (more fully described in Note 11 'Related Party Disclosures'), are of the opinion that to split the company's financial statements into those relating to the service charge element and those relating to the company is neither practicable nor meaningful. The directors believe that these accounts comply in every significant respect with the substance of the accounting requirements and disclosures recommended by the release and that they show a true and fair view of the company's activities.

Turnover
Revenue is measured at fair value of the consideration received or receivable. Revenue represents service charges receivable from homeowners. Interest is charged on unpaid service fees at a rate of 5% per annum.

Tangible fixed assets
The company's interest in common ground is not depreciated.

Taxation
The company is chargeable to corporation tax on its investment income on the basis that it is not carrying out a trade or if there is an aspect of trading that the trading would be between the company and its members and the mutual trading exemptions would apply.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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COPSE HILL ESTATE LIMITED (REGISTERED NUMBER: 02032433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 5 ) .

4. TANGIBLE FIXED ASSETS
Common
Ground
£   
COST
At 1 January 2021
and 31 December 2021 1,875
NET BOOK VALUE
At 31 December 2021 1,875
At 31 December 2020 1,875

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Prepayments 596 730

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Service charges received in advance 5,650 4,320
Corporation tax - 1
Accruals and other creditors 2,421 1,971
8,071 6,292

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
7,600 Ordinary £1 7,600 7,600

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COPSE HILL ESTATE LIMITED (REGISTERED NUMBER: 02032433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


8. RELATED PARTY DISCLOSURES

The company's share capital is held, in equal part, by the directors and others comprising all 38 homeowners on the estate; a 100% common ownership. All homeowners are subject to the terms of the Scheme of Arrangement and pay an annual amount sufficient to reimburse the company for costs incurred in its operations and any general management costs.

Because of the common relationship between the shareholders and the homeowners an arms-length 'management fee', per se, cannot be determined and therefore none is charged by the company. However, the annual reimbursement paid by the homeowners is increased sufficiently to cover the company's direct expenses. These direct expenses include both company statutory costs and a share of other expenses, such as the cost of general meetings, where the exact split between the company and homeowner elements is not clear. In total these direct company expenses are negligible as the directors personally manage the operations and give of their services to the company without remuneration.

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