55-57 Gloucester Road SW7 Limited - Limited company accounts 16.3

REGISTERED NUMBER: 04596491 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

For The Year Ended 31 December 2016

for

55-57 GLOUCESTER ROAD SW7 LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

A Agrawal

Imperial Homes (Residential Lettings & Sales) Limited

SECRETARY:

C J P Lindon

REGISTERED OFFICE:

27 Palace Gate

Kensington

London

W8 5LS

REGISTERED NUMBER:

04596491 (England and Wales)

ACCOUNTANTS:

LBCo Ltd

16 Northfields Prospect

Putney Bridge Road

London

SW18 1PE

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this

report.

A Agrawal

Imperial Homes (Residential Lettings & Sales) Limited

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

A Agrawal - Director

21 September 2017

TURNOVER

-

-

Administrative expenses

(1,576

)

(1,527

)

(1,576

)

(1,527

)

Other operating income

1,576

1,527

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

-

Tax on profit

-

-

PROFIT FOR THE FINANCIAL YEAR

-

-

FIXED ASSETS

Tangible assets

5

1,000

1,000

CURRENT ASSETS

Debtors

6

138,435

119,016

Cash at bank

25,992

25,992

164,427

145,008

CREDITORS

Amounts falling due within one year

7

129,030

109,611

NET CURRENT ASSETS

35,397

35,397

TOTAL ASSETS LESS CURRENT LIABILITIES

36,397

36,397

CREDITORS

Amounts falling due after more than one year

8

(1,000

)

(1,000

)

PROVISIONS FOR LIABILITIES

(19,343

)

(19,343

)

NET ASSETS

16,054

16,054

CAPITAL AND RESERVES

Called up share capital

9

8

8

Retained earnings

16,046

16,046

SHAREHOLDERS' FUNDS

16,054

16,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 September 2017 and were signed on its behalf by:

A Agrawal - Director

1.	STATUTORY INFORMATION

55-57 Gloucester Road SW7 Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

3.	SERVICE CHARGE SURPLUS

During the year the company received contributions from the lessees of 55-57 Gloucester Road, London SW7 in

respect of the management of the property. The movement of those funds during the year was as follows;

2016

2015

Total

Total

£

£

Service charge demands

31,038

31,260

Service charge expenditure

(31,754

)

(22,191

)

(716

)

9,069

Funds due to lessees

31st December 2015

36,935

27,866

31st December 2016

36,219

36,935

4.	SERVICE CHARGE RESERVE FUND

31.12.16

31.12.15

£

£

Balance at 1 January 2016

35,510

14,623

Reserve fund demands

20,875

20,875

Interest received net of tax

21

12

Transfer to major works fund

(1,714

)

0

54,692

35,510

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 January 2016

and 31 December 2016

1,000

NET BOOK VALUE

At 31 December 2016

1,000

At 31 December 2015

1,000

In the opinion of the directors at 31st December 2016 there was no material difference between the book and fair

value of the property.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Lessee arrears

18,325

17,386

Shareholders' loans

28,874

27,298

Funds held by managing agent

69,391

53,167

Prepayments

21,845

21,165

138,435

119,016

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Service charge surplus (note 3)

36,219

36,935

Reserve fund (note 4)

54,692

35,510

Demands issued in advance

13,034

13,034

Sundry creditors

22,953

21,476

Accruals

2,132

2,656

129,030

109,611

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Non refundable members' loans

to fund freehold purchase

1,000

1,000

1,000

1,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

8

Ordinary shares

£1

8

8