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| DIRECTORS' REPORT |
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| FOR THEYEARENDED23 June 2022 |
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| The directors present their report and accounts for theyearended23 June 2022 |
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| BUSINESS ACTIVITY AND REDISPOSITIONS OF TITLE |
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| The company originally held the freehold interest of the land and premises comprising nos 1-8 Devonhurst Place, Chiswick, London W4.
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| At a meeting of the Board on 6th January 2020, the transfer of the freehold title for 3-8 Devonhurst Place to IndigoScott Devonhurst Place LLP (ISDP) was considered. It was explained that the reason ISDP wished to take this course of action was due to the onerous nature and unduly complicated existing title structure. A simpler approach was to be preferred which would result in returning back to three separate freehold titles for the three respective properties, no 1; no 2, and nos 3-8.
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| The transaction was agreed to be non-controversial since the freehold is deemed as valueless due to the 999 year leases already in place and granted to the three subject buildings. There is therefore nominal change only to the value.
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| The Board was briefed on the legalities surrounding the transfer and advised that the best mechanism for the transfer to be effected was to transfer the entire freehold of 1-8 Devonhurst Place to ISDP and then immediately to transfer the freehold of 1-2 Devonhurst Place back to the company. In so doing the freehold pertaining to the buildings owned by the remaining Members would remain unaffected by the transaction.
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| The Board also considered a legal advice note provided independently by Cripps Pemberton Greenish by letter dated 5th December 2019 and previously circulated to all Directors.
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| Attendees of the meeting noted that this letter addressed all pertinent legal issues in detail and concluded as follows: "in our opinion, the Proposal, if implemented, is within the power of the Company and the board and we are not aware of any adverse consequences for any of the members".
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| Attendees resolved unanimously to instruct the legal adviser of ISDP with immediate effect to submit to the Land Registry applications for registration of the disposition of the freehold title as described above.
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| Accordingly, the company presently holds the freehold titles to 1-2 Devonhurst Place only. |
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| DIRECTORS |
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| The directors who served during theyearwere as follows: |
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| N B Ridge |
| T J Miller |
| Jonathan R Davis |
| Jeremy R Scott |
| Sharon T Scott |
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| STATEMENT OF DIRECTORS RESPONSIBILITIES |
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| The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulation.
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| 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:
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| DIRECTORS' REPORT |
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| FOR THEYEARENDED23 June 2022 |
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| - Select suitable accounting policies and then apply them consistently;
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| - Make judgements and accounting estimates that are reasonable and prudent;
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| - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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| The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable then 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. |
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| The report of the directors has been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. |
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| This report was approved by the board on13 June 2023 |
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| N B Ridge |
| Director |
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| BALANCE SHEET AT 23 June 2022 |
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| | | | 2022 | | 2021 |
| | Notes | | £ | | £ |
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| CURRENT ASSETS | | | | | | |
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| CAPITAL AND RESERVES | | | | | | |
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| For the year ending 23 June 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
| The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
| These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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| Approved by the board on 13 June 2023 and signed on their behalf by | | | | | | |
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| ............................. | | | | | | |
| N B Ridge | | | | | | |
| Director | | | | | | |
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