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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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St. Hilda's Wharf (Wapping) Management |
Company Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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St. Hilda's Wharf (Wapping) Management |
Company Limited |
St. Hilda's Wharf (Wapping) Management |
Company Limited (Registered number: 02441302) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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St. Hilda's Wharf (Wapping) Management |
Company Limited |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4th Floor |
167 Fleet Street |
London |
EC4A 2EA |
St. Hilda's Wharf (Wapping) Management |
Company Limited (Registered number: 02441302) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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St. Hilda's Wharf (Wapping) Management |
Company Limited (Registered number: 02441302) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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St. Hilda's Wharf (Wapping) Management Company Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Service charge accounts |
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The company exists to manage and administer on a non profit making basis, the communal areas relating to St Hilda's Wharf at 160 and 170 Wapping High Street on behalf of the lessees. Service charges are held in trust for the lessees benefit. The company's financial statements reflect a summary of the Service Charge Accounts which are separately presented to the lessees. |
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Turnover |
Turnover represents service charges receivable. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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Cash held by agents | 367,257 | 266,173 |
Prepayments and accrued income |
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The cash held by agents is held by way of two statutory trusts, in designated Client Bank Accounts at the National Westminster Bank in accordance with Section 42 and Section 42A of the Landlord & Tenant Act 1987. In addition to the Service Charge Client Account, the cash held by agents at the year end included £257,557 (2020 - £178,903) in respect of the reserve fund (see note 6) in the Reserve Funds Client Account. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors and accruals |
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Service charge in advance | 74,930 | 56,207 |
Surplus due to lessees |
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The service charge surplus or deficit is separately presented and analysed in the Service Charge Accounts as referred to in Note 2 Accounting Policies. |
St. Hilda's Wharf (Wapping) Management |
Company Limited (Registered number: 02441302) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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6. | PROVISIONS FOR LIABILITIES |
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2021 | 2020 |
£ | £ |
Reserve fund |
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Balance brought forward | 178,903 | 175,445 |
Add: contribution for the year | 100,000 | 100,000 |
Add: net interest receivable | 32 | 261 |
Add: other receipts | - | 400 |
Less: reserves utilised - major works | (24,178 | ) | (91,833 | ) |
Less: reserves utilised - other works | - | (5,370 | ) |
Previous year's service charge surplus | 2,800 | - |
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257,557 | 178,903 |
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The Reserve Fund has been established to provide funds in order to contribute to the cost of major works which are expected to arise in the future. The present level of the fund may prove insufficient, given the uncertainty as to when such costs may arise. Due to the uncertainty of timing of works and their extent and costs, the amount included within the financial statements as a Reserve Fund should not be regarded as the full sum to meet future costs but merely a contribution to such costs. |