Company Registration Number 02378993 (England and Wales)
KINGS COURT (LONDON) ASSOCIATION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
KINGS COURT (LONDON) ASSOCIATION LIMITED
COMPANY INFORMATION
Director
K Karol
Secretary
The Residents Management Company Limited
Company number
02378993
Registered office
296 King Street
Hammersmith
London
W6 0RR
Accountants
Begbies
9 Bonhill Street
London
EC2A 4DJ
Business address
296 King Street
Hammersmith
London
W6 0RR
KINGS COURT (LONDON) ASSOCIATION LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet and notes to the financial statements
4 - 5
KINGS COURT (LONDON) ASSOCIATION LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 -
The director presents his annual report and financial statements for the year ended 31 December 2022.
Principal activities
The principal activity of the company continued to be that of holding the superior lease of the property known as Kings Court, Hamlet Gardens, London, W6 0RN.
In recent years the company has been obliged to grant lease extensions, as a result of which it receives a fixed sum in compensation, but is responsible for continuing ground rent liability.
The proceeds are invested for future growth. A provision for future ground rent liabilities is made, based on compensation receivable plus investment income and gains, less ground rent actually paid. The director is unable to determine how closely this provision matches the ultimate liability.
Investments are stated at cost. The market value of investments as at 31 December 2022 was £1,618,898.
During the year, the company paid administrative fees of £14,786 (2021: £17,588) to a business controlled by the director.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
K Karol
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
On behalf of the board
K Karol
Director
4 December 2023
KINGS COURT (LONDON) ASSOCIATION LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE STATUTORY FINANCIAL STATEMENTS OF KINGS COURT (LONDON) ASSOCIATION LIMITED FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kings Court (London) Association Limited for the year ended 31 December 2022 set out on pages 3 to 5 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 Kings Court (London) Association Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Kings Court (London) Association Limited and state those matters that we have agreed to state to the Board of Directors of Kings Court (London) Association Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kings Court (London) Association Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Kings Court (London) Association Limited has kept adequate accounting records and to prepare statutory financial statements that comply with the requirements of the Companies Act 2006. You consider that Kings Court (London) Association Limited 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 Kings Court (London) Association 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.
Begbies
4 December 2023
Chartered Accountants
9 Bonhill Street
London
EC2A 4DJ
KINGS COURT (LONDON) ASSOCIATION LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
2022
2021
£
£
Turnover
186,781
258,510
Other income
75,751
95,702
Ground rent and future ground rent
(241,516)
(342,212)
Other charges
(56,030)
(32,531)
Loss
(35,014)
(20,531)
KINGS COURT (LONDON) ASSOCIATION LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 4 -
2022
2021
£
£
£
£
Fixed assets
1,761,719
1,593,343
Current assets
60,640
39,779
Prepayments and accrued income
1,576
1,576
Creditors: amounts falling due within one year
(10,863)
(9,679)
Net current assets
51,353
31,676
Total assets less current liabilities
1,813,072
1,625,019
Creditors: amounts falling due after more than one year
(2,031,703)
(1,808,636)
Net liabilities
(218,631)
(183,617)
Capital and reserves
(218,631)
(183,617)
Notes to the financial statements
1
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2022
2021
Number
Number
Employees
Kings Court (London) Association Limited is a private company limited by shares incorporated in England and Wales. The registered office is 296 King Street, Hammersmith, London, W6 0RR.
For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and the provisions applicable to companies subject to the small companies regime.
KINGS COURT (LONDON) ASSOCIATION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 5 -
The financial statements were approved and signed by the director and authorised for issue on 4 December 2023
K Karol
Director
Company registration number 02378993 (England and Wales)