42 Devonshire Street Limited 31/03/2022 iXBRL
42 Devonshire Street Limited 31/03/2022 iXBRL
Company registration number:
02236164
Company limited by guarantee
Company limited by guarantee
Contents
Balance sheet
Notes to the financial statements
Company limited by guarantee
Balance sheet
31 March 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 6 |
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves | |||||||||
Profit and loss account |
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Members funds |
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Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the Profit and loss has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
15 December 2022
, and are signed on behalf of the board by:
........................................
Director
Company registration number:
02236164
Company limited by guarantee
Notes to the financial statements
Year ended 31 March 2022
1.
General information
The company is a private company limited by guarantee, registered in United Kingdom. The address of the registered office is 42 Devonshire Street, London, W1G 7AL.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property | - | 15 years straight line | |
Fittings fixtures and equipment | - | 15% reducing balance | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
4.
Limited by guarantee
The company is limited by guarantee, and is in effect owned by the persons at any time occupying the flats at 42, Devonshire Street, London. No member's liability will exceed £1 in the event of the company being wound up.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2021:
4
).
6.
Tangible assets
Freehold property | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 April 2021 and 31 March 2022 |
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Depreciation | ||||
At 1 April 2021 |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount | ||||
At 31 March 2022 | - |
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_______ | _______ | _______ | ||
At 31 March 2021 |
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_______ | _______ | _______ | ||
7.
Debtors
2022 | 2021 | |||
£ | £ | |||
Other debtors |
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_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Other creditors |
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_______ | _______ | |||