Riverside Gardens (Hendon) Management Co. Limited - Period Ending 2016-12-31

Registration number: 03149348

Riverside Gardens (Hendon) Management Co. Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2016

Brooks Green Chartered Accountants Abbey House 342 Regents Park Road London N3 2LJ

Riverside Gardens (Hendon) Management Co. Limited

Contents
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Company Information	1
Accountants' Report	2
Balance Sheet	3
Statement of Changes in Equity	4
Notes to the Financial Statements	5 to 6

Riverside Gardens (Hendon) Management Co. Limited

Company Information
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Directors

J R Levinson B D Melville H M Solomon M M Gold R I Bernstein

Company secretary

R Aarons

Registered office

9 Riverside Gardens London N3 3GR

Accountants

Brooks Green Chartered Accountants Abbey House 342 Regents Park Road London N3 2LJ

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Statutory Accounts of
Riverside Gardens (Hendon) Management Co. Limited
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Riverside Gardens (Hendon) Management Co. Limited for the year ended 31 December 2016 as set out on pages 3 to 6 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Riverside Gardens (Hendon) Management Co. Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Riverside Gardens (Hendon) Management Co. Limited and state those matters that we have agreed to state to the Board of Directors of Riverside Gardens (Hendon) Management Co. Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Riverside Gardens (Hendon) Management Co. Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Riverside Gardens (Hendon) Management Co. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Riverside Gardens (Hendon) Management Co. Limited. You consider that Riverside Gardens (Hendon) Management Co. Limited 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 accounts of Riverside Gardens (Hendon) Management Co. Limited. 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 accounts.

Brooks Green Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

22 March 2017

Page 2

Riverside Gardens (Hendon) Management Co. Limited

(Registration number: 03149348)
Balance Sheet as at 31 December 2016
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	Note	2016 £		2015 £
Current assets
Debtors	3		10,621		10,534
Cash at bank and in hand			108,103		59,550
			118,724		70,084
Creditors: Amounts falling due within one year	4		(22,195)		(25,108)
Net assets			96,529		44,976
Capital and reserves
Profit and loss account		96,529		44,976
Total equity			96,529		44,976

For the financial year ending 31 December 2016 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 21 March 2017 and signed on its behalf by:
 

J R Levinson

Director

The notes on pages 5 to 6 form an integral part of these financial statements.

Page 3

Riverside Gardens (Hendon) Management Co. Limited

Statement of Changes in Equity for the Year Ended 31 December 2016
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	Profit and loss account £	Total £
At 1 January 2016	44,976	44,976
Surplus for the year	51,553	51,553
Total comprehensive income	51,553	51,553
At 31 December 2016	96,529	96,529

The notes on pages 5 to 6 form an integral part of these financial statements.

Page 4

Riverside Gardens (Hendon) Management Co. Limited

Notes to the Financial Statements for the Year Ended 31 December 2016
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1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 5

Riverside Gardens (Hendon) Management Co. Limited

Notes to the Financial Statements for the Year Ended 31 December 2016
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2	Profit/loss before tax

Arrived at after charging/(crediting)

2016 £

2015 £

3

Debtors

	2016 £	2015 £
Other debtors	10,621	10,534
Total current trade and other debtors	10,621	10,534

4

Creditors

	Note	2016 £	2015 £
Due within one year
Other creditors		22,195	25,108

Page 6