ESSJAY FLATS (HAMPSTEAD) LIMITED Filleted accounts for Companies House (small and micro)

ESSJAY FLATS (HAMPSTEAD) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 706333

ESSJAY FLATS (HAMPSTEAD) LIMITED

Filleted Unaudited Financial Statements

31 August 2023

ESSJAY FLATS (HAMPSTEAD) LIMITED

Statement of Financial Position

31 August 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5		697,281	697,874

Current assets

Debtors	6	1,937	1,227
Cash at bank and in hand		31,684	33,108
		--------	--------
		33,621	34,335

Creditors: amounts falling due within one year	7	242,149		210,043
		---------		---------
Net current liabilities			208,528	175,708
			---------	---------
Total assets less current liabilities			488,753	522,166
			---------	---------
Net assets			488,753	522,166
			---------	---------

Capital and reserves

Called up share capital	102	102
Profit and loss account	488,651	522,064
	---------	---------
Shareholders funds	488,753	522,166
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ESSJAY FLATS (HAMPSTEAD) LIMITED

Statement of Financial Position (continued)

31 August 2023

These financial statements were approved by the board of directors and authorised for issue on 11 January 2024 , and are signed on behalf of the board by:

J L Renshaw

Director

Company registration number: 706333

ESSJAY FLATS (HAMPSTEAD) LIMITED

Notes to the Financial Statements

Year ended 31 August 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

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.

Tangible assets

No provision has been made for depreciation of long leasehold buildings.

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:

		-	20% straight line

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Land and buildings	Equipment	Total
	£	£	£
Cost
At 1 September 2022 and 31 August 2023	697,281	5,305	702,586
	---------	-------	---------
Depreciation
At 1 September 2022	–	4,712	4,712
Charge for the year	–	593	593
	---------	-------	---------
At 31 August 2023	–	5,305	5,305
	---------	-------	---------
Carrying amount
At 31 August 2023	697,281	–	697,281
	---------	-------	---------
At 31 August 2022	697,281	593	697,874
	---------	-------	---------

6. Debtors

	2023	2022
	£	£
Other debtors	1,937	1,227
	-------	-------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Other creditors	242,149	210,043
	---------	---------

8. Related party transactions

The company was under the control of Mr JL Renshaw throughout the current and previous year. Mr J L Renshaw is the managing director and majority shareholder.