PEPPER_STREET_(FREEHOLD)_ - Accounts

PEPPER STREET (FREEHOLD) LTD - Company Information

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Company Registration No. 07752712 (England and Wales)

PEPPER STREET (FREEHOLD) LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

PEPPER STREET (FREEHOLD) LTD

COMPANY INFORMATION

Directors

Mr C E Cintra Stelin

Mr R W Clegg

Mr I Recinos-Garcia

Company number

07752712

Registered office

6 Admirals Way

Canary Wharf

London

England

E14 9UD

Accountants

Ormerod Rutter Limited

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

PEPPER STREET (FREEHOLD) LTD

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

PEPPER STREET (FREEHOLD) LTD

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PEPPER STREET (FREEHOLD) LTD FOR THE YEAR ENDED 31 AUGUST 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 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 31 August 2016 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, 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 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 ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pepper Street (Freehold) Ltd 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.

Ormerod Rutter Limited

31 May 2017

Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

PEPPER STREET (FREEHOLD) LTD

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

54,662

Current assets

Debtors

150

Cash at bank and in hand

3,214

2,598

3,364

2,623

Creditors: amounts falling due within one year

(548)

(914)

Net current assets

2,816

1,709

Total assets less current liabilities

57,478

56,371

Capital and reserves

Called up share capital

894

Share premium account

54,077

Profit and loss account

2,507

1,400

Shareholders' funds

57,478

56,371

For the financial year ended 31 August 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 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 May 2017

Mr I Recinos-Garcia

Director

Company Registration No. 07752712

PEPPER STREET (FREEHOLD) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents 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.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 September 2015 & at 31 August 2016

54,662

At 31 August 2015

54,662

Ultimate controlling party

There is no ultimate controlling party.

Share capital

2016

2015

Allotted, called up and fully paid

894 Ordinary of £1 each

894

PEPPER STREET (FREEHOLD) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 4 -

Commitments and Contingent Liabilities

The company has contracted with a Managing Agent to manage the building maintenance, it's part of the estate maintenance, the collection of service charges and 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 draw up annual service charge accounts that are audited. Neither the expense obligation, nor any surplus belongs to the company but reverts to the leasehold tenants under the terms of their leasehold agreements.