| 14 Palmeira Avenue (Hove) Ltd |
| Accountants' Report |
|
|
| Accountants' report to the directors of |
| 14 Palmeira Avenue (Hove) Ltd |
|
| You consider that the company is exempt from an audit for the year ended 31 August 2021. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| Albion Accounting and Taxation Services Ltd |
| Chartered Certified Accountants |
|
| 35 Roman Avenue |
| Angmering |
| Littlehampton |
| West Sussex |
| BN16 4GH |
|
| 7 January 2022 |
|
| 14 Palmeira Avenue (Hove) Ltd |
| Registered number: |
05539939 |
| Balance Sheet |
| as at 31 August 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
500 |
|
|
500 |
|
| Current assets |
| Debtors |
4 |
|
- |
|
|
7 |
| Cash at bank and in hand |
|
|
4,713 |
|
|
36,136 |
|
|
|
4,713 |
|
|
36,143 |
|
| Creditors: amounts falling due within one year |
5 |
|
(550) |
|
|
(1,379) |
|
| Net current assets |
|
|
|
4,163 |
|
|
34,764 |
|
| Total assets less current liabilities |
|
|
|
4,663 |
|
|
35,264 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
- |
|
|
(30,658) |
|
|
|
| Net assets |
|
|
|
4,663 |
|
|
4,606 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
7 |
|
|
7 |
| Reserves |
|
|
|
4,656 |
|
|
4,599 |
|
| Shareholders' funds |
|
|
|
4,663 |
|
|
4,606 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| M E Barnard |
| Director |
| Approved by the board on 7 January 2022 |
|
| 14 Palmeira Avenue (Hove) Ltd |
| Notes to the Accounts |
| for the year ended 31 August 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the collection of ground rents for the property known as 14 Palmeira Avenue, Hove, East Sussex. In the year ended 31/08/20 this also included monies received from a partial disposal of the freehold interest/lease extension. |
|
|
Tangible fixed assets |
|
Freehold land is not depreciated. The building is maintained in its existing condition via an independent maintenance account from contributions by leaseholders. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
6 |
|
6 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 September 2020 |
500 |
|
At 31 August 2021 |
500 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 August 2021 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2021 |
500 |
|
At 31 August 2020 |
500 |
|
|
| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Share capital not yet paid |
|
- |
|
7 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Creditors |
550 |
|
563 |
|
Loan from maintenance fund |
- |
|
816 |
|
|
|
|
|
|
550 |
|
1,379 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Monies introduced by shareholders re Freehold purchase |
- |
|
30,658 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
14 Palmeira Avenue (Hove) Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Rochester House |
|
48 Rochester Gardens |
|
Hove |
|
East Sussex |
|
BN3 3AW |
