10 Finborough Road Limited - Limited company accounts 23.2

REGISTERED NUMBER: 07705970 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

For The Year Ended 31 December 2022

for

10 FINBOROUGH ROAD LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Ms G Alberti

M S Cunningham

Ms A Iacovella

Ms V M Martinez-Gonzalez

REGISTERED OFFICE:

Unit 16

Northfields Prospect Business Centre

Putney Bridge Road

London

SW18 1PE

REGISTERED NUMBER:

07705970 (England and Wales)

ACCOUNTANTS:

LBCo Ltd

T/A Lees-Buckley & Co

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

The directors present their report with the financial statements of the company for the year ended 31 December 2022.

PRINCIPAL ACTIVITY

The company's principal activity during the year was the management of its freehold property at 10 Finborough Road, London SW10.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

Ms G Alberti

M S Cunningham

Ms A Iacovella

Ms V M Martinez-Gonzalez

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M S Cunningham - Director

26 February 2024

TURNOVER

-

Administrative expenses

(648

)

(672

)

(648

)

(672

)

Other operating income

3

648

672

OPERATING SURPLUS and

SURPLUS BEFORE TAXATION

-

Tax on surplus

-

SURPLUS FOR THE FINANCIAL YEAR

-

FIXED ASSETS

Investment property

5

100

CURRENT ASSETS

Debtors

6

12,264

4,674

CREDITORS

Amounts falling due within one year

7

12,264

4,674

NET CURRENT LIABILITIES

-

TOTAL ASSETS LESS CURRENT
LIABILITIES

100

CREDITORS

Amounts falling due after more than one
year

8

100

NET LIABILITIES

-

RESERVES

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 surplus or deficit 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:

M S Cunningham - Director

1.	STATUTORY INFORMATION

10 Finborough Road Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Service Charge Balances

The company is trustee for the service charge of its freehold property and related expenditure is commissioned in its own (company) name. Accordingly, and whilst service charge income and expenditure have been excluded from the Profit and Loss Account, related assets and liabilities are recorded in the Balance Sheet with movement therein shown in notes to the financial statements.

3.	OTHER OPERATING INCOME

During the year the company received contributions from its lessees in respect of its administrative expenses, and the management of the property. The movement of those funds during the year was as follows;

31.12.22

31.12.21

£

Contributions Receivable From Lessees:

Service charge demands

13,888

13,928

Company expense demands

980

Service charge surplus and company demands balance refunded

(3,387

)

(3,030

)

11,481

11,878

Service charge expenditure

13,746

10,849

Contribution to administrative expenses

of 10 Finborough Road Limited

648

672

14,394

11,521

(2,913

)

357

Funds due to lessees at 31st December 2021

3,387

3,030

Funds due to lessees at 31st December 2022

474

3,387

Represented by:

Service charge surplus for the year

142

3,079

Company expense demands balance

332

308

474

3,387

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5.	INVESTMENT PROPERTY

The company owns the freehold reversionary interest in 10 Finborough Road, London SW10 subject to

to long lease extensions.

£

Cost At 31.12.21 & 31.12.22

100

In the opinion of the directors at 31st December 2022 there was no material difference between the book

and fair value of the property.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

Funds held by managing agents

7,710

4,023

Prepayments

4,554

651

12,264

4,674

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

Lessee account balances

3,379

-

Trade creditors

6,568

-

Service charge surplus/company

demands balance (Note 3)

473

3,387

Other creditors

216

-

Accrued expenses

1,628

1,287

12,264

4,674

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.22

31.12.21

£

Members' Loans To Fund Freehold Purchase

100

Repayable at the discretion of the directors to the members at the time of repayment.

9.	SHARE CAPITAL

The company is limited by guarantee, and consequently has no share capital. The liability of the members is limited to the sum of £1 each in the event that the company is wound up.