Company Registration Number 2392201 (England and Wales)
CARLISLE MANSIONS EAST LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
CARLISLE MANSIONS EAST LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CARLISLE MANSIONS EAST LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2021
30 November 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
38,633
38,633
Current assets
Debtors
5
436,697
206,555
Cash at bank and in hand
4,854
4,848
441,551
211,403
Creditors: amounts falling due within one year
6
(200,840)
(55,330)
Net current assets
240,711
156,073
Total assets less current liabilities
279,344
194,706
Creditors: amounts falling due after more than one year
7
(230,049)
(145,411)
Net assets
49,295
49,295
Capital and reserves
Called up share capital
35
35
Share premium account
39,916
39,916
Profit and loss reserves
9,344
9,344
Total equity
49,295
49,295
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 October 2022 and are signed on its behalf by:
J J Corbett
Director
Company Registration No. 2392201
CARLISLE MANSIONS EAST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 2 -
1
Accounting policies
Company information
Carlisle Mansions East Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
18 Carlisle Mansions, Carlisle Place, London, SW1P 1HX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the service charges demanded from the owners of properties at Carlisle Mansions East Limited. Administrative expenses is the total expended from the service charge and reserve fund accounts. Any surplus on service charge is refunded to the lessees and any deficit is recovered from the lessees. Any surplus or deficit on reserve fund is transferred to or from the reserve fund.
1.3
Tangible fixed assets
The tangible fixed asset is made up of the cost of the freehold reversion. No depreciation is recognised.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
CARLISLE MANSIONS EAST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends are not payable.
1.7
Taxation
The tax expense represents the sum of the tax currently payable
surpluses and deficits arising on the service charge account are not taxable
.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
1
CARLISLE MANSIONS EAST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 4 -
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2020 and 30 November 2021
38,633
Depreciation and impairment
At 1 December 2020 and 30 November 2021
Carrying amount
At 30 November 2021
38,633
At 30 November 2020
38,633
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
323,711
179,126
Other debtors
112,986
27,429
436,697
206,555
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
33,973
5,106
Taxation and social security
64
57
Other creditors
166,803
50,167
200,840
55,330
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Trade creditors
230,049
145,411
The balance on reserve fund is composed of monies collected from lessees for major and cyclical repairs which has not yet been expended
CARLISLE MANSIONS EAST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 5 -
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
Senior Statutory Auditor:
Susan Elizabeth Leathem
Statutory Auditor:
J R Watson & Co.