Sixteen Upper Brook Street Limited - Limited company accounts 18.2

REGISTERED NUMBER: 01910488 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

SIXTEEN UPPER BROOK STREET LIMITED

(A COMPANY LIMITED BY GUARANTEE)

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

6

Other Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

C Elwes

R Atwater

A J White

Mrs M L M Atwater

M Hinton

Princess Malla

P J B Corser

J M Atwater

S D Ferguson

Z Haddad

SECRETARY:

Fifield Glyn Limited

REGISTERED OFFICE:

C/o Fifield Glyn Limited 1 Royal Mews

Gadbrook Park

Northwich

Cheshire

CW9 7UD

REGISTERED NUMBER:

01910488 (England and Wales)

AUDITORS:

Mehta & Tengra

Chartered Accountants

Registered Auditors

24 Bedford Row

London

WC1R 4TQ

BANKERS:

Fifield Glyn's Global Client Account

NatWest Bank

The Bull Ring

Northwich

CW9 5BN

The directors present their report with the financial statements of the company for the year ended 31 March 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property rental and property management.

REVIEW OF BUSINESS

The company continued to act as a non-profit making vehicle for the individual leaseholders of 16 Upper Brook Street.

During the year the company acted as an agent in collecting variable service charges paid by the leaseholders in

accordance with their leases to cover the cost of providing services, repairs, maintenance, improvements, insurance and

management.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2017 to the date of this report.

C Elwes

R Atwater

A J White

Mrs M L M Atwater

M Hinton

Princess Malla

P J B Corser

J M Atwater

S D Ferguson

Z Haddad

In accordance with the company's Articles of Association, all individuals who are members of the company shall

automatically be a director of the company. However, to date, one leaseholder has not been registered as a director at

Companies House.

RELATED PARTY TRANSACTIONS

None of the directors had a material interest at any time during the year in any contracts of significance in relation to the

business of the company.

OPERATING RESULTS

The excess of expenses over service charge collected for the year amounted to £7,327 (2017 excess of expenses over

service charge collected £7,259)

Service charge receipts are contributed by each leaseholder in accordance with the percentage stated in the leases of

their respective properties.

DIRECTORS AND THEIR INTERESTS

The Company is limited by Guarantee having no share capital.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the surplus or deficit of the company for that period. In preparing these financial statements, the

directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act

2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have

taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the

company's auditors are aware of that information.

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:

R Atwater - Director

7 November 2018

Opinion

We have audited the financial statements of Sixteen Upper Brook Street Limited (the 'company') for the year ended

31 March 2018 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of

Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The

financial reporting framework that has been applied in their preparation is applicable law and United Kingdom

Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the

UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2018 and of its deficit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.

Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the

financial statements section of our report. We are independent of the company in accordance with the ethical

requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,

and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit

evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to

you where:

-	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of

the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise

explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing

so, consider whether the other information is materially inconsistent with the financial statements or our knowledge

obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or

apparent material misstatements, we are required to determine whether there is a material misstatement in the financial

statements or a material misstatement of the other information. If, based on the work we have performed, we conclude

that there is a material misstatement of this other information, we are required to report that fact. We have nothing to

report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit,

we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are

responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and

for such internal control as the directors determine necessary to enable the preparation of financial statements that are

free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a

going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of

accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic

alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs

(UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are

considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic

decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting

Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

P Tengra .

for and on behalf of Mehta & Tengra

Chartered Accountants

Registered Auditors

24 Bedford Row

London

WC1R 4TQ

7 November 2018

INCOME

38,000

38,000

Administrative expenses

(45,024

)

(45,225

)

OPERATING DEFICIT

(7,024

)

(7,225

)

Interest receivable and similar income

10

6

(7,014

)

(7,219

)

Interest payable and similar expenses

4

(311

)

(39

)

DEFICIT BEFORE TAXATION

(7,325

)

(7,258

)

Tax on deficit

5

(2

)

(1

)

DEFICIT FOR THE FINANCIAL YEAR

(7,327

)

(7,259

)

DEFICIT FOR THE YEAR

(7,327

)

(7,259

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(7,327

)

(7,259

)

FIXED ASSETS

Tangible assets

6

1

1

CURRENT ASSETS

Debtors

7

32,175

35,679

Cash at bank and in hand

20,981

30,763

53,156

66,442

CREDITORS

Amounts falling due within one year

8

(6,893

)

(20,179

)

NET CURRENT ASSETS

46,263

46,263

TOTAL ASSETS LESS CURRENT LIABILITIES

46,264

46,264

CREDITORS

Amounts falling due after more than one year

9

(5,471

)

(5,471

)

NET ASSETS

40,793

40,793

RESERVES

Sinking fund reserve

11

40,793

40,793

40,793

40,793

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 7 November 2018 and were signed on its behalf by:

R Atwater - Director

Sinking

Retained

fund

Total

earnings

reserve

equity

£

£

£

Balance at 1 April 2016

-

40,793

40,793

Changes in equity

Balance at 31 March 2017

-

40,793

40,793

Changes in equity

Balance at 31 March 2018

-

40,793

40,793

1.	STATUTORY INFORMATION

Sixteen Upper Brook Street Limited is a private company, limited by guarantee , 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.

Income

Income represents the amount derived from service charges receivable within the Company's ordinary activities.

Tangible fixed assets

Depreciation is provided at the following annul rates in order to write off each asset over its estimated useful life.

Fixtures, furniture & office equipment - 15% per annum on cost

Bank accounts

The bank accounts represent service charge and sinking fund monies held in trust on behalf of the lessees and

are being held in ring- fenced designated bank accounts.

After the year end, all service charge monies were held in Fifield Glyn's Global Client Account, with the

NatWest Bank,The Bull Ring, Northwich,CW9 5BN.

Sinking fund

The sinking fund has been established to meet the cost of large, non-regular repairs and maintenance work.

Transfers to the sinking fund are established by the directors of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - NIL ) .

2018

2017

£

£

Directors' remuneration

-

-

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2018

2017

£

£

Bank interest paid

311

39

5.

TAXATION

The company is non-profit making.Tax is only payable on the bank interest received.

For the period from 6 April 2004, flat management companies are dealt with under Trust Tax Provisions.

Hitherto they were treated as corporation tax cases.

The Income tax for the year of £2 (2017: £1) represents tax on bank deposit interest.

6.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2017

and 31 March 2018

20,022

DEPRECIATION

At 1 April 2017

and 31 March 2018

20,021

NET BOOK VALUE

At 31 March 2018

1

At 31 March 2017

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Service charge owed

15,129

9,298

Service Charge Receivable

-

9,500

Service Charge Recoverable

7,327

7,259

Other debtors

620

620

Prepayments

9,099

9,002

32,175

35,679

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts (see note 10)

813

-

Taxation

10

8

Social security and other taxes

291

-

Service Charge Repayable

-

13,253

Overpayment of Service charges

-

1,543

Accrued expenses

5,779

5,375

6,893

20,179

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Deposits

5,471

5,471

The deposits are repayable on the departure of the leaseholder.

10.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

813

-

The bank overdraft is a book overdraft only.

11.

RESERVES

Income

and

Sinking

expenditure

fund

account

reserve

Totals

£

£

£

At 1 April 2017

-

40,793

40,793

Deficit for the year

(7,327

)

(7,327

)

Service charge recoverable

7,327

-

7,327

At 31 March 2018

-

40,793

40,793

The sinking fund has been established to meet the cost of large, non-regular repairs and maintenance work.

Transfers to the sinking fund are established by the directors of the company.

12.	STATUS OF THE COMPANY

Sixteen Upper Brook Street is a company limited by guarantee and does not have share capital. The liability of

each member is limited to £1.