ACCOUNTS - Final Accounts

20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED - Company Information

Caseware UK (AP4) 2014.0.91 2014.0.91 2016-12-312016-12-31Included in other creditors due within one year is a loan from the director Mr I C Revere amounting to £(400) [2015 - £(150)] Mr I C RevereThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueManagement of flats at 20-26 Lambs Conduit Streetfalse2016-01-01 6160970 2016-01-01 2016-12-31 6160970 2015-01-01 2015-12-31 6160970 2016-12-31 6160970 2015-12-31 6160970 c:Director1 2016-01-01 2016-12-31 6160970 d:Buildings 2016-01-01 2016-12-31 6160970 d:Buildings 2016-12-31 6160970 d:Buildings 2015-12-31 6160970 d:CurrentFinancialInstruments 2016-12-31 6160970 d:CurrentFinancialInstruments 2015-12-31 6160970 d:Non-currentFinancialInstruments 2016-12-31 6160970 d:Non-currentFinancialInstruments 2015-12-31 6160970 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 6160970 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 6160970 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 6160970 d:Non-currentFinancialInstruments d:AfterOneYear 2015-12-31 6160970 d:ShareCapital 2016-12-31 6160970 d:ShareCapital 2015-12-31 6160970 d:RetainedEarningsAccumulatedLosses 2016-12-31 6160970 d:RetainedEarningsAccumulatedLosses 2015-12-31 6160970 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-12-31 6160970 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2015-12-31 6160970 c:FRS102 2016-01-01 2016-12-31 6160970 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 6160970 c:AbridgedAccounts 2016-01-01 2016-12-31 6160970 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP xbrli:pure

Registered number: 6160970

20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016


20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED REGISTERED NUMBER:6160970

BALANCE SHEET

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£

Fixed assets
Tangible assets	4		99,730		99,730
			99,730		99,730
Current assets
Cash at bank and in hand		560		637
		560		637
Creditors: amounts falling due within one year	6	(7,078)		(6,104)
Net current liabilities			(6,518)		(5,467)
Total assets less current liabilities			93,212		94,263
Creditors: amounts falling due after more than one year			(61,497)		(63,597)
Net assets			31,715		30,666

Capital and reserves
Called up share capital	10	10
Profit and loss account	31,705	30,656
	31,715	30,666

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 July 2017.

I C Revere

Director

The notes on pages 3 to 6 form part of these financial statements.

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20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED REGISTERED NUMBER:6160970

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2016

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20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

The legal form of the entity is Private Limited Company, its country of incorporation is England and Wales, and address of its registered office is Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.
The company's principal activities is that of the management of flats at 20-26 Lambs Conduit Street.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the contract;

·the stage of completion of the contract at the end of the reporting period can be measured reliably; and

·the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.7

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 3 (2015 - 3).

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 January 2016	99,730
	At 31 December 2016	99,730

	At 31 December 2016	-
	Net book value
	At 31 December 2016	99,730
	At 31 December 2015	99,730

5.	Cash and cash equivalents
		2016	2015
		£	£

Cash at bank and in hand	560	637
	560	637

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20-26 LAMBS CONDUIT STREET (MANAGEMENT) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

6.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Corporation tax	262	271
Other creditors	5,350	5,100
Accruals and deferred income	1,466	733
	7,078	6,104

7.	Creditors: Amounts falling due after more than one year
		2016	2015
		£	£

Other creditors	61,497	63,597
	61,497	63,597

8.	Financial instruments
		2016	2015
		£	£

Financial assets
Financial assets measured at fair value through profit or loss	560	637
	560	637

Financial assets measured at fair value through profit or loss comprise cash.

9.	Transactions with directors

Included in other creditors due within one year is a loan from the director Mr I C Revere amounting to £(400) [2015 - £(150)]

10.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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