Registered number: 01223994
RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
COMPANY INFORMATION
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J G Hume (resigned 16 May 2022)
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G Culatti (resigned 3 May 2022)
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R Cheles (appointed 13 October 2021)
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Principia Estate & Asset Management Limited
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The directors present their report and the financial statements for the year ended 31 December 2022.
Directors' responsibilities statement
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The directors are responsible for preparing the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
The principal activity of the company is to act as the service manager of the flats known as River Gardens,
Stevenage Road, London SW6 on a non profit basis. The whole of the service and management expenses are
recoverable from the lessees in accordance with the terms of their respective leases.
The directors who served during the year were:
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J G Hume (resigned 16 May 2022)
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G Culatti (resigned 3 May 2022)
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R Cheles (appointed 13 October 2021)
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
................................................
L Laptiste (for and on behalf of Principia Estate & Asset Management Limited)
Secretary
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RIVER GARDENS AMENITY LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of River Gardens Amenity Limited for the year ended 31 December 2022 which comprise the Income Statement, the Statement of Financial Position 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of Directors of River Gardens Amenity Limited, as a body, in accordance with the terms of our engagement letter dated 02/02/2016. Our work has been undertaken solely to prepare for your approval the financial statements of River Gardens Amenity Limited and state those matters that we have agreed to state to the Board of Directors of River Gardens Amenity Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than River Gardens Amenity Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that River Gardens Amenity Limited 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 River Gardens Amenity Limited. You consider that River Gardens Amenity Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of River Gardens Amenity 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 financial statements.
Gibson Appleby
Chartered Accountants
1-3 Ship Street
Shoreham-by-Sea
West Sussex
BN43 5DH
29 August 2023
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2022
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Cost of maintenance and services
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Interest receivable and similar income
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Profit for the financial year
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The notes on pages 6 to 8 form part of these financial statements.
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01223994
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 the 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 were approved and authorised for issue by the board and were signed on its behalf on 24 August 2023.
The notes on pages 6 to 8 form part of these financial statements.
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
River Gardens Amenity Limited is a private company limited by guarantee and incorporated in England. It's registered office is The Studio, 16 Cavaye Place, London SW10 9PT.
The financial statements are presented in Sterling, which is the functional currency of the company.
2.Accounting policies
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Basis of preparation of financial statements
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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.
Turnover represents service charges receivable together with parking space and other income from the residential lessees.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Expenditure for cyclical maintenance is shown as a deduction from maintenance reserve which is set out in the notes to the accounts. This expenditure is not included in the income and expenditure account. The annual transfer to maintenance reserve is shown in the income and expenditure account and under the reserves note.
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The average monthly number of employees, including directors, during the year was 4 (2021 - 4).
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Bank and other interest receivable
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Income tax and corporation tax payable
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There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% (2021 - %).
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The freehold property at River Gardens, Stevenage Road, Fulham, London, was acquired for a nominal cost of £1. The property is subject to 115 nine hundred and ninety nine year leases issued 1975.
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Other debtors recoverable
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Prepayments and accrued income
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RIVER GARDENS AMENITY LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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Creditors: Amounts falling due within one year
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Purchase ledger control account
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Accruals and deferred income
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The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
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