Toradell Management Company Limited - Accounts to registrar (filleted) - small 23.2.5
Toradell Management Company Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| TORADELL MANAGEMENT COMPANY LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2023 |
| TORADELL MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03240568) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TORADELL MANAGEMENT COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| t/a Findlay Wetherfield Scott & Co., |
| Chartered Accountants |
| 137, Station Road, |
| Chingford, |
| London |
| E4 6AG |
| BANKERS: |
| 301 St Vincent Street, |
| Glasgow, |
| G2 5NB |
| MANAGING AGENTS: |
| 22 Courtland Avenue, |
| North Chingford, |
| London, |
| E4 6DU |
| TORADELL MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03240568) |
| BALANCE SHEET |
| 31ST DECEMBER 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 profit or loss 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| TORADELL MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03240568) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2023 |
| 1. | STATUTORY INFORMATION |
| Toradell Management Company Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents ground rent receivable during the year. |
| Tangible fixed assets |
| Freehold property | - |
| It is the company's practice to maintain its freehold buildings in a continual state of sound repair and to make improvements thereto from time to time. Accordingly the directors' assessment of the lives of these assets and their residual values is such that any depreciation relating thereto would be immaterial. Consequently no charge for depreciation is made. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2022 - NIL). |
| TORADELL MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03240568) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold |
| property |
| £ |
| Cost |
| At 1st January 2023 |
| and 31st December 2023 |
| Net book value |
| At 31st December 2023 |
| At 31st December 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Owed by lessees for |
| service charges levied |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Held by company |
| in Trust for lessees | 20,983 | 15,711 |
| Accrued expenses |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As each director is also a lessee of the property, service charges and ground rent were levied on normal commercial terms. The amount of service charges due by each director and the balance due either to the company or to the lessee as at the year end date are as shown below: |
| 2023 | 2022 |
| £ | £ |
| B.A. Millan | Service charges, etc. | 2,250 | 1,820 |
| Balance due to (from) the director | - | - |
| D.J. Bradbury | Service charges, etc. | 2,250 | 1,820 |
| Balance due to (from) the director | - | - |
| Service charges and supplementary service charges shown above only relate to the period each individual was a director. None of these transactions are with the company directly but they are with the company acting as agent on behalf of the lessees. |
| 8. | RELATED PARTY DISCLOSURES |
| There is no overall controlling party. Each individual lessee is also a shareholder of the company and owns no more than 20% of the issued ordinary shares of £1 each. |