Pepper Street (Freehold) Ltd - Abbreviated accounts 16.1
Pepper Street (Freehold) Ltd - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| PEPPER STREET (FREEHOLD) LTD |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31ST AUGUST 2015 |
| PEPPER STREET (FREEHOLD) LTD (REGISTERED NUMBER: 07752712) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST AUGUST 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 4 |
| PEPPER STREET (FREEHOLD) LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST AUGUST 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| PEPPER STREET (FREEHOLD) LTD (REGISTERED NUMBER: 07752712) |
| ABBREVIATED BALANCE SHEET |
| 31ST AUGUST 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Share premium |
| Profit and loss account |
| 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. |
| The financial statements were approved by the Board of Directors on |
| PEPPER STREET (FREEHOLD) LTD (REGISTERED NUMBER: 07752712) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST AUGUST 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover comprises ground rent due from leasehold tenants. The company is not registered for Value Added |
| Tax. No turnover is attributable to markets outside the United Kingdom. |
| Tangible fixed assets: freehold land and buildings |
| Freehold Land and Buildings are stated at cost, which includes acquisition cost, less any accumulated |
| depreciation and any provision for impairment if required. |
| No depreciation is provided on the basis that the resulting charge would be immaterial given the long estimated |
| remaining useful life and the high anticipated residual value estimated as greater than or not materially different |
| from the current cost. The directors reviewed the asset for impairment at the end of the period and no provision |
| for impairment is required. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st September 2014 |
| and 31st August 2015 |
| NET BOOK VALUE |
| At 31st August 2015 |
| At 31st August 2014 |
| The directors reviewed the estimated useful life and estimated residual value of the asset at the end of the period. |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | ULTIMATE CONTROLLING PARTY |
| The company does not have an ultimate controlling party. |
| 5. | COMMITMENTS AND CONTINGENT LIABILITIES |
| The company has contracted with a Managing Agent to manage building maintenance, it's part of estate |
| maintenance, the collection of service charges and all other rights and obligations arising under long leases |
| granted in flats and houses in the buildings at 2, 4, 6, 13 and 15 Pepper Street. |
| Service charges are budgeted, collected and managed by the Managing Agent who draws up annual service |
| charge accounts that are audited. Neither the expense obligation, not any surplus belongs to the company but |
| reverts to the leasehold tenants under the terms of their leasehold agreements. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PEPPER STREET (FREEHOLD) LTD |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Pepper Street (Freehold) Ltd for the year ended 31st August 2015 which comprise the Profit and |
| Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Pepper Street (Freehold) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pepper Street (Freehold) Ltd and state those matters that we have agreed to state to the Board of Directors of Pepper Street (Freehold) Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Pepper Street (Freehold) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pepper Street (Freehold) Ltd. You consider that Pepper Street (Freehold) Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Pepper Street (Freehold) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 31st May 2016 |